(September 13, 2004) - CitationShares will now be able to operate under new FAR regulations for fractional ownership programs. The company announced that it has obtained FAR part 91K authorization and Management Specification approval from the FAA. The FAA agency amended FAR part 91, which regulates general aviation, to include specific regulations (subpart K) for fractional operators. Specifically, subpart K defines fractional ownership programs and their various participants, formalizes regulations specifically for fractional ownership programs, and allocates responsibility and authority for safety.

Phil Marraccini, Senior Vice President, Operations, at CitationShares added, "We were able to reach this milestone and achieve FAR 91K authorization only with the cooperative efforts and hard work of our local FAA Flight Standards District Office (FSDO) representatives, as well as every member of our operations team."

In addition to operating its fractional aircraft ownership program, CitationShares launched its new Vector JetCard program in July, where all JetCard flights are operated by CitationShares under its FAR Part 135 Air Carrier Certificate.With the Vector JetCard, individuals and companies can pre-pay for 25 hours of private flight time on CitationShares-operated aircraft.