NEW YORK, Dec. 19 /PRNewswire/ -- Phoenix FA Holdings, LLC ("Phoenix")
announced today that the offering period to its previously announced tender
offer for up to 6,700,000 shares of Class A Common Stock (the "Shares") of
The Fairchild Corporation ("Fairchild") expired at 5:00 p.m., New York
time, on December 18, 2007. At such time, approximately 4,701,080 Shares
had been tendered and not withdrawn. The tendered Shares represented
approximately 20.8% of all outstanding shares of Fairchild's Class A Common
Stock. All tendered Shares were accepted for payment pursuant to the terms
of the offer. Payment for Shares accepted for payment is expected to be
made promptly.

    After giving effect to the results of the offer and previous share
acquisitions, Phoenix is the beneficial holder of 6,902,580 shares of
Fairchild's Class A Common Stock, representing approximately 30.5% of all
outstanding shares of Fairchild's Class A Common Stock. According to
Fairchild's most recently filed Form 10-Q for the quarterly period ended
March 31, 2007, as of October 31, 2007, there were 22,604,835 shares of
Fairchild's Class A Common Stock and 2,621,338 shares of Fairchild's Class
B Common Stock outstanding.

    Questions should be directed to the offer information agent, Mackenzie
Partners, Inc., at 1-800-322-2885.

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