(EDGEWOOD, N.Y. - Oct. 17, 2005) -- CPI Aerostructures, Inc. ("CPI Aero") (AMEX: CVU) today announced it was selected by Vought Aircraft Industries, Inc. ("Vought") to supply 17 more parts for the C-5 Galaxy aircraft, including metal-bonded parts and subassemblies. These parts are in addition to the 14 parts that Vought had selected CPI Aero to produce as a critical subcontractor approximately one year ago.
Edward J. Fred, CPI Aero's President & CEO stated, "Last year, when we were originally selected by Vought to supply 14 parts for the C-5, we envisioned it as the beginning of a long working relationship with one of the most well-respected subcontractors of aircraft structure in the world. This award reinforces that belief and justifies the effort we expended to develop that relationship."
About Vought Aircraft Industries, Inc.
Vought (www.voughtaircraft.com) is one of the world's largest independent suppliers of aerostructures. Headquartered in Dallas, the company designs and manufactures major airframe structures such as wings, fuselage subassemblies, empennages, nacelles and other components for prime manufacturers of aircraft. Vought has annual sales of approximately $1.2 billion and more than 6,000 employees in seven U.S. locations.
About CPI Aero
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