AeroGroup International Corporation Signs Letter of Intent to Acquire Aerial Combat Excellence International, Inc.

Business Editors/Aviation Writers

MELBOURNE, Fla.--(BUSINESS WIRE)--Nov. 20, 2002

AeroGroup International Corporation (Pink Sheets:DRGR) has signed a Letter of Intent to acquire Aerial Combat Excellence International, Inc. ("ACE"). With the acquisition of ACE, AeroGroup also acquires the expertise and management skills of Michael "Ratso" Cariello, as an AeroGroup appointed Vice President Executive Program Manager. With this, AeroGroup intends to position itself into more adversary type sorties that could greatly expand the number of training missions that AeroGroup supports. AeroGroup is an aviation consortium built to provide the U.S. military and its allies combat training using an array of surplus British and U.S. jets. The company currently provides sorties, outsourced by the US government and those of friendly countries, for training missions they no longer can provide themselves since the military cutbacks of the 1990s. Since its inception, AeroGroup has supplied military services with primarily electronic warfare (EW) training for airborne, ground and surface based systems that simulated what a threat aircraft might look like during actual combat missions. Until now, this training has mainly concentrated mostly on EW missions.

AeroGroup CEO, Mark Daniels stated, "We are paid for each hour we fly in support of military training missions, so entering the pure adversary arena will allow us to substantially increase the number of sorties we fly each month, that's where the expertise of ACE comes in."

About Aerial Combat Excellence International, Inc. ("ACE")

Aerial Combat Excellence International, Inc., (ACE), is a Delaware based company that trains military pilots in the proper use of tactics and consults to increase training effectiveness and efficiencies. ACE founder and CEO, Mike "Ratso" Cariello, is no stranger to training military pilots at the highest levels. As a fourteen year Marine Corps fighter pilot, Ratso (his callsign) rose to the level of aerial combat tactics instructor (dogfighting instructor) in record time. After being sent through the TopGun training course in 1992, he was promptly asked to return as an instructor for the famous Navy Fighter Weapons School, better known as TopGun. There from 1993 to 1996, Ratso was Naval Aviation's expert in Fighter Performance and Maneuvering, Weaponeering, Fighter training and adversary tactics. The Commanding Officer was so impressed with Ratso's abilities as a fighter pilot, teaching both `good guy' tactics as well as flying as the `bandit' aircraft, that he appointed him the Adversary Officer for the entire Navy and Marine Corps, a billet normally reserved for a more senior Navy officer.

After leaving military service in 1997 to pursue other opportunities, Mike "Ratso" Cariello created ACE that same year and has since trained pilots in Kuwait, New Zealand and Indonesia, as well as the US. The expertise that ACE brings to AeroGroup will provide the credibility required to break into a field formally reserved to active duty pilots. Said Ratso, "The time has come that the military services are realizing they can still get professional, accurate adversary training support by outsourcing these sorties to the private sector and flown by pilots that were doing this exact type flying last week while still in uniform. It has taken some time to convince the chiefs of this, but they now recognize it can be done safely and effectively through outsourcing so that more fighter pilots can get the type of training many have been doing without for too long."

About AeroGroup International Corporation

AeroGroup International Corporation is a Florida-based tactical aviation company created in 2001 to capitalize on the shortfalls in aviation support assets within the U.S. Military. AeroGroup has a staff of aviation professionals and an available inventory of tactical aircraft capable of subsonic and supersonic flight. The Company is well positioned to fly combat fighter support missions each year that go unmet by military training personnel.

Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from such statements expressed or implied herein. Factors that might cause such a difference include, among others, competitive pressures, the company's ability to successfully implement traffic, constantly changing technology, associated with recently formed entities. As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC.

For additional information or to receive an AeroGroup International Corporation Investor's Information Package Please contact: Michael Lewis, 321-254-1501 or email at: [e-mail]