HEICO Corporation Enters Into Agreement With Delta Air Lines, Inc

Business Wire, Feb 27, 2003

Business Editors/Travel Writers

HOLLYWOOD, Fla.--(BUSINESS WIRE)--Feb. 27, 2003

Major Parts Supply and Development Contract Between

Delta Air Lines and HEICO to Accelerate Availability of

New FAA Approved Replacement Parts

HEICO Corporation (NYSE:HEI) (NYSE:HEI.A) today announced that it has entered into a five-year parts supply and development agreement with Delta Air Lines, Inc. (NYSE:DAL). The supply and development agreement is the fourth such unique relationship between HEICO's Flight Support Group, HEICO Aerospace, and a major international airline. HEICO has partner positions with Lufthansa, American Airlines, and United Airlines, in addition to its new relationship with Delta.

The agreement will accelerate HEICO's efforts in developing aircraft and engine parts slated for FAA approval. Subject to the terms of the agreement, Delta has agreed to purchase a broad range of HEICO Aerospace's current and future FAA Approved parts on an exclusive basis from HEICO Aerospace. In addition, Delta and HEICO will identify new opportunities for HEICO Aerospace to develop additional FAA Approved replacement parts for Delta.

HEICO Aerospace is the world's largest independent designer, manufacturer, and distributor of FAA Approved Replacement Parts for jet engines and aircraft components. Its global and growing customer base includes most airlines and overhaul facilities worldwide that service commercial jet engines and aircraft components. Delta Tech Ops, the technical services division of Delta, is one of North America's largest and most successful providers of MRO services to the airline industry, focusing almost exclusively on modern equipment, including CFM56, JT8D-200, PW2000, and PW4000 engines, as well as B737, B757, B767, B777, MD80, and CRJ aircraft.

W. Lamar Chesney, Senior Vice President, Supply Chain Management, of Delta Air Lines, Inc. stated, "Reliance upon proven capable experts to overcome industry challenges becomes even more important during difficult times. Our past experiences have demonstrated that HEICO possesses the leadership, vision, drive and capability to deliver on a sustainable basis, exemplary quality and service at competitive pricing. We are proud to partner with a winner."

Eric A. Mendelson, HEICO Aerospace's President and Chief Executive Officer, commented, "HEICO Aerospace is proud to supply and develop new aircraft and engine parts for Delta Air Lines. Delta, like Lufthansa, American Airlines, and United Airlines is working with HEICO to increase the quality and availability of replacement parts at a reduced cost. We look forward to the continuation of our 30-year relationship with Delta and welcome other airlines to join our highly successful alliance. Through this additional momentum, all of HEICO's customers worldwide will benefit."

Laurans A. Mendelson, HEICO Corporation's Chairman, President and Chief Executive Officer, noted, "With the addition of Delta as a strategic customer for our current and future parts, HEICO is proud to have representatives of all three major airline alliances, SkyTeam, OneWorld, and Star Alliance, as its strategic customers. HEICO is committed to provide tremendous value for Delta and its many customers."

HEICO Corporation is engaged primarily in certain niche segments of the aerospace, defense and electronics industries through its Hollywood, FL-based HEICO Aerospace Holdings Corp. subsidiary and its Miami, FL-based HEICO Electronic Technologies Corp. subsidiary. HEICO's customers include a majority of the world's airlines and overhaul shops, as well as numerous defense contractors and military agencies worldwide, in addition to communications, electronics and medical equipment manufacturers. HEICO has developed and successfully employs programs which emphasize principles to enhance its manufacturing operations and has followed highly focused marketing and product development programs to greatly expand product offerings and marketing reach following acquisitions. For more information concerning HEICO, please see our web site at http://www.heico.com.

The stock symbols for HEICO's two classes of common stock on most web sites are HEI and HEI.A. However, some web sites change HEICO's Class A Common Stock symbol (HEI.A) to HEI/A or HEIa.

Certain matters discussed in this press release include forward-looking statements which involve risks and uncertainties. HEICO's actual experience may differ materially from that discussed as a result of factors, including, but not limited to, demand for commercial air travel, product specification costs and requirements, governmental and regulatory demands, HEICO's ability to introduce new products, product pricing levels, and airline fleet changes. Parties receiving this material are encouraged to review all of HEICO's filings with the Securities and Exchange Commission, including, but not limited to filings on Forms 10-K, Forms 10-Q and Forms 8-K.