CPI Aerostructures Contract Worth $57.4 Million

The G560 is continuing its path to becoming a production airplane. The most recent indicator is a purchase order announced Tuesday by CPI Aerostructures, Inc. ("CPI Aero") it has received from Spirit AeroSystems, Inc. (“Spirit”) for wing leading edge assemblies for the Gulfstream G650 aircraft. In March 2008, Spirit and CPI Aero entered into a long term agreement to provide Spirit with leading edges for the wing of the Gulfstream G650 business jet. Spirit designs and manufactures the G650 wing for Gulfstream Aerospace Corporation.

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Edward J. Fred, CPI Aero's CEO and President, stated, "We are proud of our performance on this program and are excited about this follow on order. As we continue to demonstrate our assembly capabilities to Spirit, we hope to be considered for additional opportunities for assemblies on this platform."

This award brings the total new year-to-date awards for CPI Aero from all customers to $57.4 million, compared to $23.4 million for all of 2009. New awards now exceed the $55.3 million record set in 2008.

CPI Aero is engaged in the contract production of structural and other aircraft parts for leading prime defense contractors, 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 E-2D Hawkeye surveillance plane, the UH-60 BLACK HAWK helicopter, the S-92 helicopter, the MH-60S mine countermeasure helicopter, the Gulfstream G650, C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet, and the E-3 Sentry AWACS jet. CPI Aero is included in the Russell Microcap Index.

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-K for the year ended December 31, 2009 and CPI Aero’s Forms 10-Q for the quarters ended March 31, 2010 and June 30, 2010.

FMI: www.cpiaero.com, www.gulfstream.com