CPI Aerostructures Receives Initial $3.2 Million in Delivery Orders from The Boeing Company Pursuant to Its Long-Term Requirements Contract

Business Wire, July 30, 2008

Year-To-Date Awards Reach $29 Million

EDGEWOOD, N.Y. -- CPI Aerostructures, Inc. ("CPI Aero[R]") (AMEX: CVU) announced today that it has been awarded $3.2 million in delivery orders to provide various assemblies to the Boeing Integrated Defense Systems unit of The Boeing Company ("Boeing") in support of its recent $2 billion award to produce up to 242 enhanced wings for the A-10 "Thunderbolt" attack jet. This order is pursuant to the long-term requirements contract that CPI Aero announced earlier this month.

Edward J. Fred, CPI Aero's CEO and President, stated, "These are the initial delivery orders from Boeing, and we anticipate receiving substantially larger orders in the very near future. As stated in the previous release, this is a very exciting time for CPI Aero. To be a subcontractor to the premier aerospace and defense company in the world, and to provide parts for an aircraft that has been such an important part of CPI's history, is very satisfying. We look forward to working with Boeing for many years to come, and providing the high quality parts for which CPI Aero is known."

Mr. Fred continued, "This award brings the total new year-to-date awards to $29 million, compared to $16 million for the same period last year. $24.7 million of this year's total is subcontract awards from major aerospace companies, compared to $11.6 million of subcontract awards for the same period last year. This 113% increase in subcontract awards demonstrates our continued efforts to diversify our customer base and increase the amount of work performed in our capacity as a subcontractor to major prime contractors."

The A-10, first introduced in 1976, is a twin-engine jet aircraft designed for close-air support of ground forces. The simple, effective and survivable single-seat aircraft can be used against all ground targets, including tanks and other armored vehicles.

CPI Aero is engaged in the contract production of structural aircraft parts 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, UH-60 Black Hawk helicopter, the Sikorsky S-92 helicopter, the MH-60S mine countermeasure helicopter, and the Gulfstream G650. CPI Aero is included in the Russell Microcap[R] 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, 2007 and Form 10-Q for the quarter ended March 31, 2008.

CPI Aero([R]) is a registered trademark of CPI Aerostructures, Inc.