HONG KONG, CHINA - Media OutReach - 24 February 2015 -KuangChi Science Limited (KuangChi) (HKSE:00439) today reached another milestone with the listing of its New Zealand investment company Martin Aircraft Company Limited (MJP) on the Australian Stock Exchange (ASX). MJP is also set to deliver its first manned and unmanned revolutionary jetpacks by 2016.

MJP shares opened at AUD0.6, up 50% from the IPO price of AUD0.4. Its final IPO price per share was AUD0.4 with an issuance of 67.5 million new shares, and raising a total of AUD27 million. The proceeds will be used for the development, production and sales promotion of Martin Jetpacks, and the development of related products and services.

KuangChi acquired 55,763,636 shares in MJP earlier in the week, on 23 February, as part of the Group's strategy to deepen its subversive space technologyand eventually providea full range ofspaceservices. Martin Aircraft Company has been developing the Martin Jetpack, a practical jetpack with potential usage spanning research and rescue, military, recreational and commercial applications, both manned and unmanned.

KuangChi Chairman Dr. Liu Ruopeng and founder of Martin Aircraft, Glenn Martin were present for the listing ceremony in Sydney, together with MJP Chairman Jon Mayson and CEO Peter Coker.

Dr. Liu said KuangChi and Martin Aircraft agreed last December on KuangChi's acquisition of shares in MJP, with both companies working jointly to achieve the dream of producing 'Iron Man' jetpacks, thereby revolutionizing the aviation, leisure and transport sector. Mr. Martin said at the listing event that KuangChi's expertise would be beneficial to MJP's commercial development and promotion of subversive space technology. Mr. Martin's ideas and invention started in 1981, and the Martin Jetpack is expected to be the world's first commercial and practical jetpack.

KuangChi subscribed for 41 million new shares at a cost of approximately AUD16 million. In addition, amongst the original key shareholders of MJP, founder Glenn Martin and institutional investor "8th venture" will sell shares to KuangChi. After the completion of the transaction and the IPO, KuangChi has become the largest shareholder of MJP.

KuangChi will use no more than AUD29 million (23 to 29 million) to subscribe for MJP's convertible warrants. After completion of the transaction and full conversion of warrants convertible into shares, KuangChi would hold 52% of MJP and would have controlling rights. The two companies will also set up a joint venture in China, Hong Kong, where 51% will be held by KuangChi, and the joint venture would be able to subscribe for MJP's future shares issuance, which could then raise KuangChi's stake to 52%.

Dr. Liu commented: "We are delighted with this IPO milestone and the significant technology lift that Martin Jetpack adds to the KuangChi Group. It is a three-way win as the revolutionary jetpacks will benefit society too."

MJP'sprospectus states that its Martin Jetpack (both mannedandunmanned versions) has beenapproved by the New ZealandCivil Aviation Authority.  In order to comply with the aviationrulesof many other countries that are similar to New Zealand's, MJP will make upgradesto comply with, for example, US aviationrules. The prototypeforfurther testing anddemonstrationis currently atthe finalstage, and it will be equipped with an integratedballistic parachute, to better ensurethe safety ofpilots.

The mannedandunmanned jetpacks are divided intoFirst Responder JetpackandPersonal Martin Jetpack.The formertargets customers who are with quick-responsedepartments, so that rescue workerscould be likeIron Man, flying over obstaclesanddangers. The Personal EditionechoesMJP's original purpose for its jetpacks --personalleisure services.

KuangChi Science Limitedis a globalscienceandtechnology innovationcompany that is listed on themain board of the stock exchange of Hong Kong. The Group is currentlyfocused on the developmentof differenttypes ofsubversive space technology to providea full range ofspaceservices. Its scientificresearch on subversivespacetechnology platformincludes the "Cloud" and "Traveller" which are designedto provide communicationscoverage andlargedata collection and services that would be moreconvenient than traditional and economical technology.

Martin Aircraft Company Limited is the maker of the innovative Martin Jetpack. With its patented technology, the Martin Jetpack is poised to alter the dynamics of aviation.  Initially designed as a personal Jetpack for individuals in the leisure market, the technology is being recognised for its applications across a broad range of different sectors. Established originally as a research and development company, Martin Aircraft Company is now being positioned to enter the commercial market.

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