CPI Aerostructures Announces $1 Million Military Contract Award Modification

(EDGEWOOD, N.Y., Sept. 19, 2006) -- CPI Aerostructures, Inc. (AMEX Symbol: CVU) announced today that it has received an increase of nearly $1 million on a contract initially awarded to CPI in 2002 for nose cowl assemblies for the E-3A Airborne Early Warning aircraft. That contract has been modified to reflect the additional firm fixed-price for the rework of 16 nose cowl assemblies to incorporate Government-requested modifications. The first week of September, CPI Aero announced a $1.14 million award to manufacture 5 new nose cowl assemblies. These new assemblies will have the modifications incorporated during production. The E-3A is used primarily by the United States and NATO to detect impending danger and perform electronic jamming functions. CPI Aero is engaged in the contract production of structural aircraft parts principally for the U.S. Air Force, other branches of the armed forces and leading prime defense contractors. 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.

Source: CPI Aerostructures
Date: Sep 19, 2006

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