PARK INSURANCE SERVICES LTD.

#380 – 11465 Baynes Road, Pitt Meadows, BC, V3Y 2B4

Telephone: 888.917.1177 Fax: 866.372.2755

MEMORANDUM OF INSURANCE

INSURER(S): Allianz Global Risks US Insurance Company

INSURED: Mission Aero Enterprises Ltd.

POLICY #: AIM0512291

POLICY PERIOD: August 1, 2006 to August 1, 2007

AIRCRAFT INSURED: Cessna 172M Registration C-GHUU

HULL COVERAGE: All Risk Flight & Ground

Amount of insurance on hull: $70,000 Landplane

Deductible: $500 All Losses

LIABILITY COVERAGE: $1,000,000 Third Party plus $300,000 per Passenger

Limited to 3 passenger seat(s)

AIRCRAFT USE: Private Business and Pleasure

APPROVED PILOTS: Properly licensed Club Members per Endorsement Number 1

TERRITORIAL LIMITS: Aircraft may only be operated in Canada, the French Islands of St. Pierre and Miquelon, the Republic of Mexico, the Bahamas, the Islands of the Caribbean or the Continental United States of America (Alaska subject to $1,000,000 Third Party plus $300,000 per passenger limit)

SPECIAL CONDITIONS: Premium is non-refundable unless the aircraft is sold.

ANNUAL PREMIUM: $4,935.00

THIS IS NOT A POLICY OF INSURANCE, IT IS A MEMORANDUM OF THE POLICY DESCRIBED HEREIN AT THE DATE OF ISSUE HEREOF AND IS FURNISHED AS A MATTER OF INFORMATION ONLY, WITH THE UNDERSTANDING THAT THE RIGHTS AND LIABILITIES OF THE PARTIES WILL BE GOVERNED BY THE ORIGINAL POLICY AS IT MAY BE LAWFULLY AMENDED BY ENDORSEMENT FROM TIME TO TIME.

THIS MEMORANDUM ISSUED TO: Mission Aero Enterprises Ltd. Ken Cathro
3590 Triumph Street

Vancouver, BC V5K 1V1

DATE: July 31, 2006