Gulfstream International Group, Inc. Prices its Initial Public Offering

FORT LAUDERDALE, Fla., Dec. 14  /PRNewswire-FirstCall/ -- Gulfstream International Group, Inc. (AMEX:GIA) announced today that it has priced its offering of 800,000 shares of its common stock at a public offering price of $8.00 per share, less underwriting discounts and commissions.  All of the shares are being offered by Gulfstream.  In addition, the underwriters have a 30-day option to purchase up to an additional 120,000 shares from the Company to cover over-allotments, if any.  Gulfstream common stock began trading today on the American Stock Exchange under the symbol "GIA".

Taglich Brothers, Inc. acted as the sole book-running manager for the offering.

A registration statement on Form S-1 relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. The offering is being made solely by means of a prospectus.  A copy of the final prospectus relating to this offering, when available, may be obtained from Taglich Brothers, Inc., The Chrysler Building, 405 Lexington Avenue, 51st Floor, New York, NY 10174 (Telephone No. 800-383-8464, ext 101).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Gulfstream International Group, Inc.

Gulfstream International Group, Inc. is a holding company that operates two independent subsidiaries:  Gulfstream International Airlines, Inc. ("Gulfstream") and Gulfstream Training Academy, Inc. (the "Academy"). Gulfstream is a Fort Lauderdale, Florida-based commercial airline currently operating more than 200 scheduled flights per day, serving eleven destinations in Florida and ten destinations in the Bahamas.  The Academy provides flight training services to licensed commercial pilots.  For more information on the company, visit the company's website at http://www.gulfstreamair.com/. 

DATASOURCE: Gulfstream International Group, Inc.



CONTACT:  Robert M. Brown, Chief Financial Officer of Gulfstream

International Group, Inc., [phone], Ext. 236



Web site:  http://www.gulfstreamair.com/ 

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