News | October 29, 2008

CPI Aero Announces $1.8M Contract From Hupp Aerospace/Defense

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. ("CPI Aero®") (NYSE: Alternext US: CVU) announced today that it has received a purchase order from Hupp Aerospace/Defense ("Hupp") to produce aircraft structural assemblies for the B-1 bomber, in support of Hupp's contract with the U.S. Department of Defense. The order has a value of approximately $1.8 million. Deliveries under this contract are scheduled to begin in mid 2009.

Edward J. Fred, CPI Aero's CEO and President, stated, "We are very pleased to have been asked by Hupp to provide these assemblies, and look forward to continuing working with them in the future. With this order, CPI Aero's total year-to-date award amount is $51.5 million, compared to $21.6 million for the same period last year, and $37.7 million for all of 2007."

About Hupp Aerospace/Defense
Hupp Aerospace/Defense is a leading provider of tailored kitting and logistics support services to industry and government, with offices located in New Haven, Indiana, and Dothan and Huntsville, Alabama.

About CPI Aero
CPI Aero is engaged in the contract production of structural 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 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® 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.

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