AASI Aircraft Appoints Former President of Raytheon Aircraft to Board.

Business Editors & Aerospace/Defense Writers

LONG BEACH, Calif.--(BUSINESS WIRE)--April 5, 2001

Advanced Aerodynamics & Structures Inc. (Nasdaq:AASI) today announced the appointment of Roy H. Norris to its board of directors, filling one of two board vacancies.

A 25-year veteran of the aerospace industry, Norris, 56, is president of The Norris Group, a Birmingham, Alabama-based consulting services firm focused on the aviation and aerospace industries. He previously served as president of Raytheon Aircraft, formerly Beech Aircraft, overseeing management of a $2.3 billion enterprise as a member of a two-man executive office.

During his tenure, sales and earnings increased 30 percent for each period and the company developed and launched two new major business jet aircrafts, the Premier I and the Hawker Horizon.

Norris supervised the merger of Raytheon Corporate Jets with Raytheon Aircraft and the relocation of manufacturing operations from the United Kingdom to the United States.

Previously he served as president and chief executive officer of Raytheon Corporate Jets, a $484 million division of the Raytheon Company -- developer and manufacturer of the world's leading midsize business jets, the Hawker 800 and 1000. Norris was responsible for the development of the Hawker 800XP, the world's best selling midsize business jet.

"We are extremely pleased that Roy Norris has accepted our invitation to join AASI's board of directors. His extensive experience in the development, manufacturing and marketing of aircraft will provide us with additional direction and strategic insight as we approach critical milestones on our path to receiving FAA approval of the JETCRUZER 500," said Dr. Carl Chen, president and chief executive officer of Advanced Aerodynamics & Structures Inc.

Chen noted that Norris joins another prominent aerospace veteran on AASI's board, James A. Lowell -- former spacecraft commander of the Apollo 13 mission.

Norris' career also includes positions with Gulfstream Aerospace and Cessna Aircraft Company, serving as vice president of sales and marketing at both organizations. While at Cessna, he introduced five new business jet aircrafts, including the Citation V, VI, VII, X and the Citationjet.

Norris was personally responsible for the concept development of the Citation VI and Citationjet products and intimately involved with the ultimate sale of the company to Textron in 1992.

A graduate of Auburn University in 1968 with a Bachelor of Science degree in Chemical Engineering, Norris was selected as an Outstanding Engineering Graduate by the University in 1997.

The company currently has 188 JETCRUZER 500 aircraft orders, representing a backlog of $226 million. The JETCRUZER 500 is a high-speed single engine, corporate propjet aircraft that can accommodate first class seating for six people, including the pilot. Powered by a Pratt & Whitney propjet engine, the JETCRUZER 500 will cruise near jet speeds of 345 miles per hour at altitudes of up to 30,000 ft.

Advanced Aerodynamics & Structures Inc. is a development-stage company organized to design, develop, have certified by the FAA, manufacture and market propjet and jet aircraft for the world business, commercial and government markets.

Certain statements contained in this news release, including statements concerning AASI's ("company") ability to continue to obtain market acceptance of the JETCRUZER 500 aircraft, the company's ability to obtain regulatory approval of the JETCRUZER 500, and the competitive market for sales of small business aircraft and other statements contained herein regarding matters that are not historical facts, are forward looking statements; actual results may differ materially from those set forth in the forward looking statements, which statements involve risks and uncertainties, including without limitation those risks and uncertainties set forth in the company's Registration Statement on Form SB-2 under the heading "Risk Factors," and the company's Form 10-KSB and Form 10-QSB on file with the SEC.