(EDGEWOOD, N.Y. - September 20, 2005) -- CPI Aerostructures, Inc. ("CPI Aero") (AMEX: CVU) today announced that Hill Air Force Base ("Hill") has awarded CPI Aero a $569,000 contract to provide the U.S. Air Force with 37 aircraft wing skins for the A-10 "Thunderbolt" attack jet.
Edward J. Fred, CPI Aero's CEO & President stated, "This is the first major award CPI Aero has received from Hill in 2005. We have been doing business with Hill for many years and we are pleased to have been selected for this contract. Historically, we have been an important supplier on the A-10, having provided leading edges for the entire A-10 fleet in a multi-year contract through 2000, with follow-on work through 2004."
Founded in 1980, CPI Aero is engaged in the contract production of structural aircraft parts principally for the U.S. Air Force and other branches of the armed forces. In conjunction with its assembly operations, CPI Aero provides engineering, technical and program management services. Among the key programs that CPI Aero supplies are the C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet, the E-3 Sentry AWACS jet and the MH-60S mine countermeasure helicopter.
The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero's SEC reports, including CPI Aero's Form 10-KSB for the year ended December 31, 2004 and Form 10-Q for the quarters ended March 31, 2005 and June 30, 2005.
Vincent Palazzolo, 631-586-5200
Investor Relations Counsel
The Equity Group Inc.
Linda Latman, 212-836-9609
Andreas Marathovouniotis, 212-836-9611