AASI Aircraft Jetcruzer 500 Passes FAA Main Wing Down Bending Structural Test.

Business Editors

LONG BEACH, Calif.--(BUSINESS WIRE)--Jan. 18, 2001

Advanced Aerodynamics & Structures Inc. (Nasdaq:AASI) today announced that its Jetcruzer 500 has passed an FAA-witnessed main wing down bending structural test.

The main wing was tested to a 100 percent limit load, with no permanent deformation and no effect on the aircraft's aileron and rudder control systems.

Dr. Carl Chen, chairman and chief executive officer of AASI, said, "This is the first major structural test on the Jetcruzer 500 main wing, we are very pleased with the successful passage of the FAA test."

Chen added that the shortened preparation time for the test was supported by AASI's recent purchase of a data acquisition system, MGCplus Data Logger System from HBM Mess-und Systemtechnic GmbH of Germany, which the company deployed to improve its structure and system testing in terms of speed and quality.

Dr. Chen indicated that the company is now focused on configuring the Jetcruzer 500 main wing for a 100 percent limit load structural test, including positive gust or up bending, roll initiation and steady roll conditions.

AASI Aircraft currently has 188 JETCRUZER 500, aircraft orders, representing a backlog of US$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 feet. The first delivery of JETCRUZER 500 is expected to be around the third quarter of 2001.

The statements in this news release, including the statements made by Dr. Carl Chen, are forward-looking statements that involve a number of risks and uncertainties. As discussed in Advanced Aerodynamics & Structures Inc.'s ("the company") Annual Report on Form 10-K for the year ended Dec. 31, 1999, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of the company to complete the due diligence relative to the acquisition and obtain the necessary shareholder and regulatory approval. Although the company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by the company or any person that the company's objectives or plans will be achieved. The company undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.