Transfer of Ownership Expected to Occur on February 1, 2009

DENVER, Jan. 22 /PRNewswire-FirstCall/ -- Air Methods Corporation (Nasdaq: AIRM), the largest air medical transportation company in the world, announced today the Company had entered into a definitive purchase agreement to acquire Omniflight, Inc.'s Rescue Air operations in Atlanta and North Georgia. The transfer of ownership is expected to occur on February 1, 2009. The purchase price to be paid is based on a risk-sharing model and is contingent on results of future operations. The consolidation is expected to support the long-term viability of these critical air medical services through realized efficiencies from base combinations.

Effective as of the closing date, the current operating bases of Air Methods and Rescue Air 1 will be consolidated into six, to be located in Covington, Gainesville, Griffin, Kennesaw, Newnan, and a sixth base serving the I-75 and I-575 corridors. Under the transaction agreements, the medical personnel at all six bases will be employed by Air Methods. Three bases will operate under the Emory Flight name currently utilized by Air Methods, and the related pilots and mechanics will be employed by Air Methods. The other three bases will operate under the name Rescue Air, and Air Methods will contract with Omniflight for the aviation services at these three locations. All six bases will operate Eurocopter AS350 single-engine aircraft.

"We are excited by the opportunity to realize greater efficiencies in providing air medical services to the Atlanta and North Georgia communities. Increased utilization of these expensive assets and professional personnel will help ensure the continuation of quality air medical services for years to come by improving these programs' combined viability," said Aaron Todd, Chief Executive Officer, Air Methods.

Air Methods Corporation (www.airmethods.com) is a leader in emergency air medical transportation and medical services. The Hospital Based Services Division is the largest provider of air medical transport services for hospitals. The Community Based Services Division is one of the largest community-based providers of air medical services. The Products Division specializes in the design and manufacture of aeromedical and aerospace technology. The Company's fleet of owned, leased or maintained aircraft features over 320 helicopters and fixed wing aircraft.

Forward Looking Statements: This news release includes certain forward-looking statements, which are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including but not limited to the integration of CJ into our existing operations, the size, structure and growth of the Company's air medical services and products markets; the collection rates for patient transports; the continuation and/or renewal of air medical service contracts; the acquisition of profitable Products Division contracts and other flight service operations; the successful expansion of the community-based operations; and other matters set forth in the Company's public filings.

CONTACTS: Aaron D. Todd, Chief Executive Officer, (303) 792-7413. Please contact Christine Clarke at (303) 792-7579 to be included on the Company's fax and/or mailing list.

SOURCE Air Methods Corporation