CPI Aerostructures Announces C-5 Crown Skins Award

Business Wire, Oct 1, 2008

Potential Value of $12.3 Million; Initial Release of $2.4 Million

EDGEWOOD, N.Y. -- CPI Aerostructures, Inc. ("CPI Aero[R]") (AMEX: CVU) announced today that the U.S. Air Force has awarded CPI Aero an IDIQ (Indefinite Delivery, Indefinite Quantity) contract to provide crown skins for the C-5 Galaxy cargo aircraft, with a potential value of approximately $12.3 million. The initial release received under this award is for $2.4 million.

Crown skins are very large aluminum sheets covering the top of the fuselage of the C-5 aircraft, which form part of the pressure boundary. This award of $2.4 million brings the total new year-to-date awards to $48.2 million, compared to only $18.9 million for the same period last year, and $37.7 million for all of last year.

CPI Aero is engaged in the contract production of structural aircraft parts leading prime defense contractors, the U.S. Air Force, 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 UH-60 BLACK HAWK helicopter, the Sikorsky 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[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 quarters ended March 31, 2008 and June 30, 2008.

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