AVIANCATACA SHARES ALLOCATION

· In an unprecedented move AviancaTaca is the first Airline to allocate 100% of its initial public offering among frequent flyers and company employees.

· During the IPO AviancaTaca received more than 64 thousand investment requests, equivalent to more than USD$1.6 billion, six times the offered amount.

· AviancaTaca has positioned itself as one of the private companies with the largest number of shareholders in Colombia.

AviancaTaca surpassed their established goals in their recent share issuance. During the bidding process that took place between March 28 and April 15, 2011, the company received orders for more than USD$1.6 billion, almost six times the offered amount.

After completing the allocation process for the 100 million preferential shares, equivalent to 11% of the Company, a total of 47,554 persons, among them members of the loyalty program and company employees, have become the new airline shareholders.

Following these impressive results AviancaTaca has positioned itself as the first Airline in placing 100% of its shares among company employees and frequent flyer. The number of new owners also places the airline among the principal companies with the greatest number of shareholders in Colombia.

The Executive President of AviancaTaca, Fabio Villegas Ramírez, noted: “The huge response that the AviancaTaca IPO elicited is a strong signal of the credibility and recognition of thousands of individuals, and especially our frequent flyers, with a project that we have been jointly building over recent years. We want to thank all those investors that have decided to form part of the company. This vote of confidence encourages us to continue with the successful ongoing development of our business plan, as we look to position AviancaTaca as the leading airline in Latin America preferred by travelers throughout the world”.

AviancaTaca prepares to make its debut on the Colombia Stock market on May 11, 2011, following the shares allocation, when the Airline stock will start to be traded on the secondary market.