PROJECT FINANCE MAGAZINE’S

BOND DEAL OF THE YEAR

Nassau, Bahamas  March 5, 2010—Project Finance Magazine awarded Nassau Airport Development Company the Latin America Project Bond Deal of the Year for 2009. The publication, a subsidiary of Euromoney Magazine, based its decision on NAD’s ability to secure $265 million to finance stage one of the Lynden Pindling International Airport redevelopment project.

Yesterday, NAD executives travelled to New York to accept the award on behalf of LPIA. Project Finance Magazine looked at the airport management company’s ability to be innovative, show best practice, risk mitigation and problem solving skills during the finance negotiations.

According to the magazine’s website, the evaluation team took into consideration the overall world economic climate when selecting this year’s recipients. “Since the liquidity crunch of 2008…we have judged all deals in the context of the lending climate at the time of financial close.”

Stewart Steeves, Vice President of Project Development and the former Vice President of Finance and CFO at NAD, spearheaded the negotiations. “We were able to raise $40.1 million in $B, $194.9 million in $US and $30 million available in either $B or $US for our expansion project,” Steeves explains. “Once the new terminal opens in the spring of 2011, we will seek subsequent funding for stages two and three.”

A total of 16 investors and lenders along with NAD’s shareholder the Government of The Bahamas provided the capital to begin work on stage one. Funding is broken down into three segments: a $153 million revolving credit facility, a $42 million senior note (bond) facility and a $70 million subordinated participating debt facility.

Stage one of the airport expansion project includes construction of a 247,000 sq. ft. US Departures Terminal and Pier, approximately 1,000,000 sq. ft. of asphalt apron, expanded parking facilities and new roadways. NAD finalized funding in March 2009 and began construction on the new terminal in August 2009.

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Media Contact:

Shonalee King Johnson

Manager, Communications

Nassau Airport Development Company                                   

(242) 702-1061

(242) 376-3617 mobile

Shonalee.Johnson@nas.bs

On Tuesday January 12, 2010, a major earthquake struck Port-Au-Prince, Haiti, leaving the city completely devastated.

In the aftermath of the earthquake, the entire world responded with an outpouring of support.

NAD’s Operations Centre at the Lynden Pindling International Airport, played an instrumental role in accommodating a number of humanitarian flights en route to Haiti.

Some of the aircraft that landed during the latter part of January 2010, had never landed at LPIA.

During the time of the humanitarian flights, all landing fees and parking fees were waived.

Here are some of the unique aircraft that appeared on our runways:

Iceland Air- Boeing 757-200

Icelandair is the flag carrier airline of Iceland, based in Reykjavík. It is part of the Icelandair Group and operates services to 25 cities in 12 countries on both sides of the Atlantic. Its main base is Keflavík International Airport.

• Routing: Port-Au-Prince – Iceland
• Arrival Dates: January 14th, 2010
• Crew: 2
• Fuel: 11,489
• Payload: 255,000 lbs
• Seats: 200
• Range: 7,222 km at MTOW

Volga-Dnepr Ilyushin 76 -TD

The Ilyushin Il-76  is a multi-purpose 4-engined strategic airlifter that was first planned as a commercial freighter in 1967. Intended as a replacement for the An-12, the Il-76 was designed for delivering heavy machinery to remote, poorly-serviced areas of Russia. Military versions of the Il-76 have seen widespread use in Europe, Asia and Africa, including use as an airborne refueling tanker, as a commercial freighter for ramp-delivered cargo, as emergency response transport for civilian evacuations and to deliver humanitarian/disaster relief aid around the world, especially to undeveloped areas due to its ability to operate from unpaved runways. A water-carrying version of the plane has been effective in fire-fighting, and it is also used for zero-G training.

• Routing: Port-Au-Prince – Trenton, Gander
• Arrival Dates: January 18th, 21st, 22nd, 23rd, 26th, 2010
• Crew: 5
• Fuel: 28,926 gallons
• Payload: 40 tonnes
• Seats: NONE
• Range: 5,000 km at MTOW

Iceland Express--Boeing 737-100

Iceland Express is a budget airline, offering daily low-fare flights between Reykjavík Iceland and destinations in Europe.  There are no length-of-stay restrictions, no Sunday rule, easy online booking and e-ticketing.

• Routing: Port-Au-Prince – Halifax
• Arrival Dates: January 20th
• Crew: 2
• Fuel: 6,875 gallons
• Payload: 144,500 – 187,700
• Seats: 148
• Range: 5,650 – 10,200 km at MTOW

Qatar C-17

The Boeing (formerly McDonnell Douglas) C-17 Globemaster III is a large military transport aircraft. The C-17 was developed for the United States Air Force from the 1980s to the early 1990s by McDonnell Douglas. The aircraft carries on the name of two previous United States military cargo aircraft, the C-74 Globemaster and the C-124 Globemaster II. The C-17 is used for rapid strategic airlift of troops and cargo to main operating bases or forward operating bases throughout the world. It has the ability to rapidly deploy a combat unit to a potential battle area and sustain it with on-going supplies. The C-17 is also capable of performing tactical airlift, medical evacuation and airdrop missions.

• Routing: Port-Au-Prince – Morocco
• Arrival Dates: January 25th 
• Crew: 3
• Fuel: 35, 546 lbs
• Payload: 170,900 lbs
• Seats: 134
• Range: 4,482 km at MTOW

Nassau Airport Development Company Ltd.

Job Description

TITLE:                         Corporate Messenger/Driver

DEARTMENT:               People       

DATE:                           January 2010

JOB PURPOSE- This position is responsible for making corporate deliveries and pick ups both internally across company departments and externally within New Providence.

REPORTS TO – Manager, People

QUALIFICATIONS-

• Two years experience in a similar position
• A safe driving record
• Proven time management skills
• Ability to handle multiple task and interact professionally with staff and stakeholders
• Proven communication skills with the ability to engage in active listening and verbally communicate with both the internal and external customer
• Proven customer services skills

KEY RESPONSIBILITIES-

• Make corporate deliveries and pick ups at the direction of the corporate receptionist and the storekeeper
• Deliver internal mail and supplies among corporate departments
• Other duties as assigned
• Performs physical activities that require considerable use of arms and legs such as walking, stooping and lifting of packages up to 35lbs

REQUEST for PROPOSALS

FOOD COURT OUTLETS

NEW U.S. DEPARTURES TERMINAL

AT

LYNDEN PINDLING INTERNATIONAL AIRPORT

Nassau Airport Development Company Limited (NAD) is seeking two Proponents (individuals, consortiums or joint ventures that must include an experienced restaurant operator) to finance, design, develop, operate and manage two separate food court outlets of approximately 700sq. ft. and 602 sq. ft respectively in the new U.S. Departures Terminal currently under construction at the Lynden Pindling International Airport.

Two additional food court outlets have been identified for the new terminal with concepts as follows:

1.   Hamburgers/Chicken Burgers/Etc.

1. Other (Deli, Sandwiches/Soups, Bahamian food, Chinese food, Japanese food, Greek food, etc.) Note: a pizza outlet is already confirmed.

Minimum Qualifications

1. Proponents must be Bahamian and incorporated in The Bahamas.
2. Proponents must have operated at least one similar food outlet within the last three (3) years.

NAD’s goals and objectives are to:

(a)    achieve a high standard of excellence and customer service;

(b)   offer a mix of concepts that will help to enhance the image of the Nassau Airport as a world class airport;

(c)    offer food & beverage choices to passengers at reasonable prices;

(d)   offer a mix of  local, regional and national and international brands;

(e)    develop and design food facilities that complement the qualities of the new terminal; and

(f)     optimize revenue to NAD.

Qualified and interested parties may pick-up the Request for Proposal package at NAD’s offices at the reception desk on the second floor Domestic/International Terminal at Lynden Pindling International Airport between the hours of 8:00am and 4:00pm, from February 8^th to February 19^th, 2009. A mandatory pre-proposal briefing for those who have picked up packages will be held at the Airport on Wednesday, February 24^th at 10:00am.

Request for Proposal – RFP C-290 IT Infrastructure and C-294 IT Flight Information Systems

Nassau Airport Development Company (NAD) is pleased to announce the release of RFP C-290 IT Infrastructure and C-294 IT Flight Information Systems for Stage 1, 2 and 3 of the Lynden Pindling International Airport Expansion with Stage 1 awarded at this time.  The scope of work includes:

C290 IT Infrastructure:

• Local Area Network
• IP Telephone System
• Wireless LAN

C294 IT Flight Information Systems

• Flight Information Displays (FIDs)
• Resource Management System (RMS)
• Airport Operational Database System (AODB)
• Counter and Gate Podium Monitors
• Common Use Self Serve Kiosks

The proponent shall be fully responsible for the design and implementation of the Scope of Work described in the RFP and shall make maximum use of commercial off the shelf products and technologies.

The C-290 and C-294 RFP Documents will be available for pick up after 1:00pm, Thursday January 28^th, 2010.  

Bidders meetings will be held each RFP as follows:

• C290 IT Infrastructure: 10:00 am, Thursday, February 4^th, 2010.
• C294 IT Flight Information Systems: 1:30 pm, Thursday, February 4^th, 2010. 

Please contact Traci Brisby to register at the NAD Project office.

RETAIL/ FOOD & BEVERAGE OUTLETS TO OPEN IN SPRING 2011

NASSAU, BAHAMAS February 10, 2010— Nassau Airport Development Company is pleased to announce that it has awarded contracts for retail and food & beverage outlets in the new U.S. Departures Terminal. Last month, the airport management company wrapped up the most recent round of Requests for Proposals for commercial space in the terminal scheduled to open in the first quarter of 2011. All of the winning companies are 100% Bahamian-owned. The winners are:

KAFÉ KALIK—Casual Dining Sit-Down Restaurant, owner Tyrone Nabbie

OLDE NASSAU NEWS—Newsstands/Gifts and Convenience (3 locations), owner Patricia Mortimer

MY OCEAN— Bahamian Retail, owner Tanya Klonaris-Azevedo

UNIQUELY BAHAMIAN— Bahamian Retail, owner Betty-Jane Dean

A BELLY FULL— Bahamian Retail, owner Derryann Tennielle Strachan 

THE LAST STRAW— Bahamian Retail, owner Allison Dean

“It is most encouraging to see a mixture of current and new tenants moving into the new terminal. Travellers can anticipate an exciting and diversified retail and food & beverage offering as they wait for their flights to the U.S.” said John Spinks, Vice President of Commercial Development at NAD. “We would like to thank all those who participated in these RFPs and wish all of the winners much success here at LPIA.”

Additional Requests for Proposals for the new terminal building are currently in progress including space for two general retail stores and two food court outlets. More than 15,000 sq. ft. in the new 247,000 sq. ft. terminal has been set aside for retail and food and beverage concessions. Tenants will begin fitting out their new locations in the terminal as early as August/September of this year.

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Media Contact:

Shonalee King Johnson                                                        

Manager, Communications              

Nassau Airport Development Company                              

(242) 702-1061

(242) 376-3617

Shonalee.Johnson@nas.bs

NAD STAFF RAISES MORE THAN $20,000

FOR HAITI EARTHQUAKE RELIEF

NASSAU, BAHAMAS February 3, 2010— Today, the Nassau Airport Development Company presented a cheque for more than $20,000 to the Bahamas Red Cross Haiti Relief Fund.

Shortly after the major earthquake struck Port-au-Prince last month, staff members formed the NAD Helping Haiti committee with the goal of raising $5000. Company executives agreed to match whatever staff raised dollar for dollar. 

“In the aftermath of the earthquake, people from all around the company kept asking what they could to do help Haiti,” said John Terpstra, Vice President of Operations at NAD. “Our executive team was so inspired by the response that we agreed to match whatever the committee raised within a two-week period.”

In addition to traditional donation boxes in the staff lunch room, the committee sold lunch and held a private auction. They appealed to corporate sponsors for assistance and were overwhelmed by the support when donations including airline tickets, spa services, golf passes and more poured in. 

 “We would like to thank our NAD family for supporting this drive. We have a small team here, less than 150 on staff and we were able to not only meet our initial goal of $5000 but exceed it by more than $15,000,” said Deborah Coleby, Director of Operations at NAD. “We would also like to thank our corporate partners who gave generously to this cause. The people of Haiti will no doubt appreciate your kindness.”

Corporate sponsors included

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Media Contact:

Shonalee King Johnson                                                        

Manager, Communications              

Nassau Airport Development Company                              

(242) 702-1061

(242) 376-3617

Shonalee.Johnson@nas.bs

NEW AIRPORT TERMINAL TESTED FOR HURRICANE READINESS—

BUILT TO WITHSTAND 150 MPH WINDS

NASSAU, BAHAMAS January 21, 2010 —When the new U.S. Departures terminal opens in Spring 2011 at the Lynden Pindling International Airport, the structure will be able to withstand winds of up to 150 mph. Earlier this month, a team from the Nassau Airport Development Company’s LPIA Expansion Project Team travelled to a manufacturing facility in Shenyang, China to observe the manufacturing process and test the durability of the curtain wall (window wall) system for stage one of the development. 

In a controlled environment at the Yuanda Aluminum Industry Engineering Company Limited’s testing facilities in China, glass panels for the 247,000 sq. ft. terminal were placed in a mock up chamber for the test series.

According to NAD Vice President of Airport Development, Stewart Steeves, the tests included simulated hurricane wind and rain conditions through a series of over 9,000 positive and negative pressure tests, air and water infiltration tests, and simulated hurricane debris impact through a series of small missile (ball bearings) impact tests at 90 mph and large missile (2×4 lumber) impact tests at 35 mph.

The panels will be manufactured in Shenyang, China, by Yuanda, one of the largest curtain wall manufacturers in the world. The largest curtain wall panels are 20 ft. high and 8 ft. wide. Delivery and installation on site is expected during the summer 2010.

With more than 200 construction workers presently on site, work continues on budget and on schedule for stage one of the $409.5 airport redevelopment project.

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Nassau Airport Development Company (NAD) has a requirement for the Supply and Delivery of Furnishings (PI-190A), Supply and Delivery of Appliances (PI-190 B) and Supply and Delivery of Commercial Seating (PI-190 C), for Stage 1, Stage 2 and Stage 3 of the Lynden Pindling International Airport Expansion Project. These Supply and Delivery Price Inquiries are to be in accordance with the required schedule and specifications, with Stage 1 being awarded at this time. 

PI-190 A Furnishings Scope of Work includes:

• Supply and Delivery of Specified Furnishings

PI-190 B Appliances Scope of Work includes:

• Supply and Delivery of Specified Appliances
• Warranty and on-island Service for warranty period

PI-190 C Commercial Seating Scope of Work includes:

• Supply and Delivery of Specified Appliances

Price Inquiry Packages will be available for pick up after 1:00 pm, on Thursday, November 19^th, 2009.

Contact:

Traci Brisby

Contract & Procurement Manager

LPIA Expansion Project

ph: (242) 702-1086

fax: (242) 377.2117

P.O. Box AP 59229

Nassau, Bahamas

email: traci.brisby@nas.bs

 Nassau Airport Development Company (NAD) has a requirement for the Supply and Delivery of Furnishings (PI-190A), Supply and Delivery of Appliances (PI-190 B) and Supply and Delivery of Commercial Seating (PI-190 C), for Stage 1, Stage 2 and Stage 3 of the Lynden Pindling International Airport Expansion Project. These Supply and Delivery Price Inquiries are to be in accordance with the required schedule and specifications, with Stage 1 being awarded at this time. 

PI-190 A Furnishings Scope of Work includes:

• Supply and Delivery of Specified Furnishings

PI-190 B Appliances Scope of Work includes:

• Supply and Delivery of Specified Appliances
• Warranty and on-island Service for warranty period

PI-190 C Commercial Seating Scope of Work includes:

• Supply and Delivery of Specified Appliances

 Price Inquiry Packages will be available for pick up after 1:00 pm, on Thursday, November 19^th, 2009.