SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(Amendment No. __)*
Air Transport Services Group, Inc.
(Name of Issuer)
Common Stock, par value $.01
(Title of Class of Securities)
00922R105
(CUSIP Number)
June 6, 2008
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
(Page 1 of 13 Pages)
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*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934 ("Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 00922R105 13G Page 2 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
PERELLA WEINBERG PARTNERS XERION MASTER FUND LTD.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
5,000,000 Shares of Common Stock
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
5,000,000 Shares of Common Stock
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
5,000,000 Shares of Common Stock
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.9%
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(12) TYPE OF REPORTING PERSON **
OO
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 00922R105 13G Page 3 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
PERELLA WEINBERG PARTNERS XERION EQUITY LP
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
5,000,000 Shares of Common Stock
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
5,000,000 Shares of Common Stock
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
5,000,000 Shares of Common Stock
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.9%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 00922R105 13G Page 4 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
PERELLA WEINBERG PARTNERS XERION FUND GP LLC
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
5,000,000 Shares of Common Stock
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
5,000,000 Shares of Common Stock
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
5,000,000 Shares of Common Stock
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.9%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
00
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 00922R105 13G Page 5 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
PERELLA WEINBERG PARTNERS CAPITAL MANAGEMENT LP
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
5,000,000 Shares of Common Stock
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
5,000,000 Shares of Common Stock
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
5,000,000 Shares of Common Stock
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.9%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IA
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 00922R105 13G Page 6 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
PERELLA WEINBERG PARTNERS CAPITAL MANAGEMENT GP LLC
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
5,000,000 Shares of Common Stock
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
5,000,000 Shares of Common Stock
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
5,000,000 Shares of Common Stock
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.9%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
00
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 00922R105 13G Page 7 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
PERELLA WEINBERG PARTNERS GROUP LP
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
5,000,000 Shares of Common Stock
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
5,000,000 Shares of Common Stock
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
5,000,000 Shares of Common Stock
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.9%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
HC
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 00922R105 13G Page 8 of 13 Pages
Item 1(a). Name of Issuer:
The name of the issuer is Air Transport Services Group, Inc. (the
"Company").
Item 1(b). Address of Issuer's Principal Executive Offices:
The Company's principal executive office is located at 145 Hunter Drive,
Wilmington, Ohio 45177
Item 2(a). Name of Person Filing:
This statement is filed by:
(i) Perella Weinberg Partners Xerion Master Fund Ltd., a Bermuda
exempted investment Fund company (the "Master Fund"), with
respect to shares of Common Stock (as defined in Item 2(d)
below) directly owned by it;
(ii) Perella Weinberg Partners Xerion Equity LP, a Delaware
limited partnership (the "Master Fund Manager"), which
serves as the manager of the Master Fund, with respect to
shares of Common Stock (as defined in Item 2(d) below)
directly owned by the Master Fund;
(iii) Perella Weinberg Partners Xerion Fund GP LLC, a Delaware
limited liability company (the "GP"), which serves as the
general partner of the Master Fund Manager, with respect to
shares of Common Stock (as defined in Item 2(d) below)
directly owned by the Master Fund;
(iv) Perella Weinberg Partners Capital Management LP, a Delaware
limited partnership (the "Investment Manager") that is
registered with the Securities and Exchange Commission as an
investment adviser, which indirectly serves as the
investment adviser to the Master Fund and is also the
managing member of the GP, with respect to the shares of
Common Stock (as defined in Item 2(d) below), directly owned
by the Master Fund;
(v) Perella Weinberg Partners Capital Management GP LLC, a
Delaware limited liability company ("PWPCMGP"), which serves
as the general partner of the Investment Manager, which
indirectly serves as the investment adviser to the Master
Fund, with respect to the shares of Common Stock (as defined
in Item 2(d) below), directly owned by the Master Fund; and
(vi) Perella Weinberg Partners Group LP, a Delaware limited
partnership ("Group"), which serves as the managing member
of PWPCMGP, the general partner of the Investment Manager,
which indirectly serves as the investment adviser to the
Master Fund, with respect to the shares of Common Stock (as
defined in Item 2(d) below), directly owned by the Master
Fund.
The Master Fund, the Master Fund Manager, the GP, the Investment Manager,
PWPCMGP and Group are hereinafter sometimes collectively referred to as the
"Reporting Persons." Any disclosures herein with respect to persons other than
the Reporting Persons are made on information and belief after making inquiry
to the appropriate party.
CUSIP No. 00922R105 13G Page 9 of 13 Pages
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the principal business office of each of the Reporting
Persons except the Master Fund is 767 Fifth Avenue, New York, NY 10153. The
address of the principal business office of the Master Fund is c/o Citco Fund
Services (Bermuda) Limited, Washington Mall West, 7 Reid Street, Hamilton HM II
Bermuda.
Item 2(c). Citizenship:
The Master Fund is organized under the laws of Bermuda. Each of the Master
Fund Manager, the GP, the Investment Manager, PWPCMGP and Group is organized
under the laws of the state of Delaware.
Item 2(d). Title of Class of Securities:
Common Stock, par value $.01 (the "Common Stock")
Item 2(e). CUSIP Number:
00922R105
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or
(c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act,
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940,
(e) [ ] Investment Adviser in accordance with Rule
13d-1(b)(1)(ii)(E),
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance
with Rule 13d-1(b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G),
(h) [ ] Savings Association as defined in Section 3(b) of the
Federal Deposit Insurance Act,
(i) [ ] Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act of 1940,
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to 13d-1(c), check this box: [X]
CUSIP No. 00922R105 13G Page 10 of 13 Pages
Item 4. Ownership.
A. The Master Fund
(a) Amount beneficially owned:
5,000,000 Shares of Common Stock
(b) Percent of class: 7.9%
The percentages used herein and in the rest of this Schedule
13G are calculated based upon the 63,227,084 shares of
Common Stock issued and outstanding on May 12, 2008, as
reflected in the Company's Form 10-Q filed on May 13, 2008.
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
5,000,000 Shares of Common Stock
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
5,000,000 Shares of Common Stock
B. The Master Fund Manager
(a) Amount beneficially owned:
5,000,000 Shares of Common Stock
(b) Percent of class: 7.9%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
5,000,000 Shares of Common Stock
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
5,000,000 Shares of Common Stock
C. The GP
(a) Amount beneficially owned:
5,000,000 Shares of Common Stock
(b) Percent of class: 7.9%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
5,000,000 Shares of Common Stock
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
5,000,000 Shares of Common Stock
CUSIP No. 00922R105 13G Page 11 of 13 Pages
D. The Investment Manager
(a) Amount beneficially owned:
5,000,000 Shares of Common Stock
(b) Percent of class: 7.9%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
5,000,000 Shares of Common Stock
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
5,000,000 Shares of Common Stock
E. PWPCMGP
(a) Amount beneficially owned:
5,000,000 Shares of Common Stock
(b) Percent of class: 7.9%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
5,000,000 Shares of Common Stock
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
5,000,000 Shares of Common Stock
F. Group
(a) Amount beneficially owned:
5,000,000 Shares of Common Stock
(b) Percent of class: 7.9%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
5,000,000 Shares of Common Stock
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
5,000,000 Shares of Common Stock
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
The Master Fund Manager, as manager to the Master Fund, which directly owns
the Common Stock to which this filing relates, has voting and dispositive
authority over such Common Stock. As such the Master Fund Manager may be deemed
to be the beneficial owner of such Common Stock. The GP, as general partner to
the Master Fund Manager, may be deemed to control such entity and therefore, may
be deemed to be the beneficial owner of the Common Stock to which this filing
relates. The Investment Manager is the managing member of the GP. As such, it
may be deemed to control such entity and therefore may be deemed to be the
beneficial owner of the Common Stock to which this filing relates. PWPCMGP is
the general partner of the Investment Manager. As such, it may be deemed to
control such entity and therefore, may be deemed to be the beneficial owner
of the Common Stock to which this filing relates. Group is the managing member
of PWPCMGP. As such, it may be deemed to control PWPCMGP and therefore, may
be deemed to be the beneficial owner of the Common Stock to which this filing
relates.
CUSIP No. 00922R105 13G Page 12 of 13 Pages
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
See Item 2.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
Each of the Reporting Persons hereby makes the following certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
DATED: June 16, 2008
/s/ WILLIAM KOURAKOS
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Partner and Authorized Person
CUSIP No. 00922R105 13G Page 13 of 13 Pages
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledges and agrees that the foregoing statement on
Schedule 13G, is filed on behalf of each of the Reporting Persons and that all
subsequent amendments to this statement on Schedule 13G, shall be filed on
behalf of each of the Reporting Persons without the necessity of filing
additional joint acquisition statements. The Reporting Persons acknowledge that
each shall be responsible for the timely filing of such amendments, and for the
completeness and accuracy of the information concerning it contained therein,
but shall not be responsible for the completeness and accuracy of the
information concerning the others, except to the extent that it knows or has
reason to believe that such information is inaccurate.
DATED: June 16, 2008
/s/ WILLIAM KOURAKOS
-------------------------------------
Partner and Authorized Person