NEW YORK, Nov. 13 /PRNewswire/ -- Phoenix FA Holdings, LLC, a Delaware
limited liability company ("Phoenix") announced today that it intends to
make a cash tender offer for up to 6,700,000 shares of Class A Common Stock
of The Fairchild Corporation (NYSE: FA) at a price of $2.50 per share. The
offer price represents a 20% premium over Fairchild's closing stock price
of $2.08 on November 12, 2007.
    Once the tender offer is commenced, offering materials will be mailed
to Fairchild stockholders and filed with the Securities and Exchange
Commission. Fairchild stockholders are urged to read the offering materials
when they become available because they will contain important information.
    The tender offer will be subject to customary conditions for
transactions of this type, including a minimum of 3,700,000 shares of Class
A Common Stock being properly tendered. Phoenix's offer will not be subject
to financing.
    THIS DOCUMENT IS NEITHER AN OFFER TO PURCHASE NOR A SOLICITATION OF AN
OFFER TO SELL SECURITIES. PHOENIX HAS NOT YET COMMENCED THE TENDER OFFER
DESCRIBED HEREIN. THE TENDER OFFER WILL BE MADE ONLY THROUGH AN OFFER TO
PURCHASE AND RELATED LETTER OF TRANSMITTAL. INVESTORS AND SECURITY HOLDERS
ARE STRONGLY ADVISED TO READ THIS TENDER OFFER STATEMENT OF PHOENIX AND THE
RELATED LETTER OF TRANSMITTAL WHEN SUCH DOCUMENTS ARE FILED AND BECOME
AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. THE TENDER
OFFER STATEMENT WILL BE FILED BY PHOENIX WITH THE SECURITIES AND EXCHANGE
COMMISSION ("SEC"). INVESTORS AND SECURITY HOLDERS MAY OBTAIN A FREE COPY
OF THIS STATEMENT (WHEN FILED AND AVAILABLE) AND OTHER RELEVANT DOCUMENTS
ON THE SEC'S WEB SITE AT: HTTP://WWW.SEC.GOV. THE TENDER OFFER STATEMENT
AND RELATED MATERIALS MAY ALSO BE OBTAINED FOR FREE BY DIRECTING SUCH
REQUESTS TO PHOENIX.
    Questions should be directed to the offer information agent at
MacKenzie Partners Inc. 1-800-322-2885.

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