16 May 2003, Wichita Falls, Texas

For Immediate Release:
From the offices of The Organization for Sport Aviation Competition

OSAC to Partner with Carter to Restore the CCTD

The CarterCopter Technology Demonstrator (CCTD) was back in flight-testing in late March after eight months of extensive modifications, and plans were moving forward toward breaking the Mu-1 Barrier. Unfortunately, the CCTD sustained extensive damage in the wheels-up landing incident on April 8th. This accident caused Carter executives and stockholders to take a very close look at whether or not the CCTD should be rebuilt. Several hundred thousand dollars had just been spent to complete what was to be the final series of improvements to the CCTD. Carter has essentially completed the design for the next generation aircraft, the NxCC, and this aircraft will be able to outperform the CCTD in every aspect. The option was put forth to part-out the damaged CCTD and begin concentrating on production of the NxCC since partial funding was in place to begin building the new aircraft.

Anita Infante, President of the Organization for Sport Aviation Competition (OSAC), became aware of the discussions to scrap the CCTD and suggested an alternative. OSAC is a public charity whose primary purpose is to support and provide educational programs to the general public. In addition, its focus is to build a greater understanding of the history and impact that experimental aviation has had on society and to support the field of sport/experimental aviation through competitive events. Ms. Infante and her board of directors believe that the CCTD has tremendous importance as a revolutionary and historic aircraft and that it should be restored for educational purposes for future generations. They also believe the CCTD, by right, should be the aircraft to break the Mu-1 Barrier.

The two most important aviation prototypes that constitute the heritage of the CCTD - the 1903 Wright Flyer and the Cierva C.4 Autogyro - are no longer in existence because it wasn't considered good business sense to repair or maintain them (The Wright Flyer in the Smithsonian is actually a reconstruction made several years later that is only partially constructed from original parts). These icons in aviation history have been lost to the generations whose lives they so dramatically changed. OSAC has agreed to help save the CCTD through a grass-roots fundraising initiative so that it will be available to future generations for centuries to come as an example of the personal achievement that is possible when we dare to dream beyond the known.

In consideration for OSAC's partnership, Carter has agreed to restore the CCTD with the intent to use it to break the Mu-1 Barrier. In addition, Carter has agreed that once restored the CCTD cannot be sold, but must be donated to a public museum or other public education program. In order to maintain the original schedule for breaking the Mu-1 Barrier in November of this year, Carter has temporarily canceled work on the NxCC production and is using that funding to begin repairs to the CCTD. As financial support becomes available through OSAC's funding campaign the donations will be credited toward the restoration.

OSAC is creating a Mu-1 Members Club for those who would like to contribute to the restoration campaign. An overview of the contribution levels and member benefits will be posted here on the Carter Website within the next week.

Jay Carter, Jr., Anita Infante and their organization directors agree that the revolutionary technology represented by the original CarterCopter prototype is destined to change aviation for the next century and the CCTD, as the cornerstone of that technology, deserves its place in history.

The Organization for Sport Aviation Competition (OSAC) is incorporated in the State of Illinois as a not-for-profit organization established to provide educational programs. OSAC has been recognized by the Internal Revenue Service as a public charity under sections 501(c)(3) and 509(a)(2) of the federal tax code, therefore, contributions to OSAC are tax deductible for federal income tax purposes.