9 million, or $0.2 million, or $0. Executive Who Established Nike's Soccer and Skate Businesses Tapped to Drive
Global Growth of Sport-Inspired Products

BEAVERTON, Ore.

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26 per share, for the quarter ended December 31, 2003.04 $(0.

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04 per
share , of net earnings for the quarter ended December 31, 2004, as
compared to a net loss of $2.5
million , and $5.5 million tax benefit and a $1.
The Company's actual results could differ materially from those set
forth in the forward-looking statements, as a result of the risks
associated with the Company's business, changes in general economic
conditions, and changes in the assumptions used in making such
forward-looking statements.50) $(0.

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----The Fairchild
Corporation (NYSE:FA), announced today $0.6 million, or $0. The increase was due primarily to the prior period
including only two months of activity from our acquisition of Hein
Gericke, PoloExpress and IFW on November 1, 2003 , and our foreign
sales benefiting from a stronger euro as compared to the dollar.
Bodecker will lead Nike's expanding sport culture opportunity, including
action sports and skate."

NIKE , Inc., a leading designer and distributor of hockey equipment; Cole Haan, a
leading designer and marketer of luxury shoes, handbags, accessories and
coats; Hurley International LLC, which designs , markets and distributes action
sports and youth lifestyle footwear, apparel and accessories and Exeter Brands
Group LLC, which designs and markets athletic footwear and apparel for the
value retail channel.

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"Sport performance inspires sport culture.

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In addition, IFW designs and produces
protective apparel under private labels for third parties, including
Harley-Davidson., NIKE, Inc.

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09 per share , for the
quarter ended December 31, 2003. Additional information is
available on The Fairchild Corporation web site (www.com

This news release may contain forward looking statements within
the meaning of Section 27-A of the Securities Act of 1933, as amended,
and Section 21-E of the Securities Exchange Act of 1934, as amended.

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About The Fairchild Corporation

In addition to Fairchild Sports, The Fairchild Corporation is
engaged in the aerospace distribution business which stocks and
distributes a wide variety of parts to operators and aerospace
companies providing aircraft parts and services to customers
worldwide.09)
--------------------
Basic and diluted weighted average shares
outstanding: 25,195 25,190
--------------------
REVENUES
Sports + Leisure Segment (a) $43,109 $25,207
Aerospace Segment 23,681 16,673
Real Estate Operations Segment 2,544 2,342
Corporate and Other - 1
Intercompany Eliminations (122) -
--------------------
Total $69,212 $44,224
------- -------------
OPERATING LOSS
Sports + Leisure Segment (a) $(5,518) $(3 ,286)
Aerospace Segment 1,080 55
Real Estate Operations Segment 761 766
Corporate and Other (5,372) (3,718)
--------------------
Total $(9,049) $(6,183)
--------------------

(a) - Actual results for the three months ended December 31, 2003,
include only two months of results from the sports + leisure segment
since its acquisition on November 1, 2003.
(Logo: http://www.

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THE FAIRCHILD CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except per share data)

Three Months Ended
--------------------
REVENUE: 12/31/04 12/31/03
------ --------------
Net sales $66,790 $41,882
Rental revenue 2,422 2,342
--------------------
69,212 44,224
COSTS AND EXPENSES:
Cost of goods sold 45,066 28 ,781
Cost of rental revenue 1,706 1,486
Selling, general + administrative 33,113 23,256
Other (income) expense, net (1,767) (3,116)
Amortization of intangibles 143 -
--------------------
78,261 50,407
OPERATING LOSS (9,049) (6,183)
Interest expense (5,464) (5,393)
Interest income 424 190
--------------------
Net interest expense (5,040) (5,203)
Investment income 131 154
Increase in fair market value of interest rate
contract 1,675 2,090
--------------------
Loss from continuing operations before taxes (12,283) (9,142)
Income tax benefit (provision) (70 ) 2,487
Equity in loss of affiliates, net (200) -
Minority interest , net - 81
--------------------
Loss from continuing operations (12,553) (6,574)
Earnings (loss) from discontinued operations, net 956 (1,525)
Gain on disposal of discontinued operations, net 12,500 5,934
---------- ----------
NET EARNINGS (LOSS) $903 $(2,165)
--------------------
BASIC AND DILUTED EARNINGS (LOSS) PER SHARE:
Loss from continuing operations $(0., which designs, markets and
distributes athletic footwear, apparel and accessories; NIKE Bauer Hockey
Inc.

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04 (0.06)
Gain on disposal of discontinued operations, net 0. Sandy will bring
greater focus and integration to our evolving efforts over the past few years,
enabling us to create more complete and compelling product stories and build
deeper relationships with consumers around the world who are inspired by
sport. based near Beaverton, Oregon is the world's leading designer,
marketer and distributor of authentic athletic footwear, apparel, equipment
and accessories for a wide variety of sports and fitness activities . Wholly
owned Nike subsidiaries include Converse Inc.

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The Fairchild Corporation also owns and operates a shopping
center located in Farmingdale, New York.

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(NYSE: NKE)
today announced that executive Sandy Bodecker has been named Vice President,
Sport Culture, for the Nike brand, a newly created position designed to drive
growth of Nike's sport-inspired footwear, apparel and equipment businesses .

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Revenues in the first quarter of fiscal 2005 also benefited from a 42%
increase in revenues at our aerospace segment.com/cgi-bin/prnh/19990818/NIKELOGO )
Bodecker, 52, is a 23 year Nike veteran known for successfully building
new businesses and creating strong connections with retailers and Nike
consumers in new categories. Bodecker's leadership firmly established Nike as
a leading global soccer brand, helping to build soccer into one of the
company's top three sports categories with revenues approaching $1.
Most recently, Bodecker headed Nike's skate business, driving product
innovation and building strong relationships and brand credibility with skate
retailers, athletes and consumers .

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IFW, located in
Tustin, California, is a designer and distributor of motorcycle
protective apparel , boots and helmets, under several labels, including
First Gear and Hein Gericke.5 billion.

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Business Editors

MCLEAN, Va. Together, Hein Gericke and PoloExpress
operate 229 retail shops in Germany , Austria, Belgium, France, Italy,
Luxembourg, the Netherlands, and the United Kingdom.26)
Earnings (loss) from discontinued operations, net 0.

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The loss from continuing operations for the three months ended
December 31, 2003 included a $2.

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fairchild.

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Fairchild Sports is a seasonal business with historic trends of
higher volumes of sales and profits during months from March through
September.

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Net earnings included gains of $12.

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Overall revenues increased by $25.5 %, in the
quarter ended December 31, 2004, as compared to the quarter ended
December 31, 2003.

Nike Names Sandy Bodecker to Lead Sport Culture Business

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9 million, on the disposal of discontinued operations,
representing additional proceeds earned from the sale of the fastener
business, in the three months ended December 31, 2004, and December
31, 2003, respectively.6
million, or $0 .
"Building off of Nike's global strength in sport performance, sport
culture is a tremendous growth opportunity for us across all product types,"
Denson said.

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0 million, or 56.
Hein Gericke , PoloExpress and IFW design and sell motorcycle
protective apparel, helmets and a large selection of technical
accessories for motorcyclists.23
--------------------
NET EARNINGS (LOSS) $0.

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50 0. Bodecker
will report to Nike brand President Charlie Denson.

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Fairchild Announces Net Earnings of $0.9 Million for the Quarter Ended December 31 2004

50 per share, for the quarter ended December
31, 2004 , as compared to a loss from continuing operations of $6.8
million of realized foreign currency gains from cash equivalents held
in a euro denominated account which had benefited from the
strengthening of the euro against the dollar. Results for the
Company's quarter ended December 31, 2004 are included in the attached
table.newscom.

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The Company's loss from continuing operations
was $12. He will have responsibility for strategic leadership
and direction, as well as partnering with Nike's product engines and regional
management, to grow one of Nike's largest opportunities worldwide.