Aeroflex Incorporated Announces Plan to Divest Shock and Vibration Control Business.

PLAINVIEW, N.Y. -- Aeroflex Incorporated (Nasdaq Symbol: ARXX), a leading designer, developer and manufacturer of automated testing solutions and microelectronics for the aerospace, defense and broadband communications markets, announced today its decision to divest its shock and vibration control device manufacturing business located in Bloomingdale, New Jersey, and to seek a strategic buyer.

"Aeroflex's strategic direction is to dedicate its resources to growing its automated test and microelectronic solutions businesses. Consequently, the shock and vibration control device business is not core to ongoing operations," said Michael Gorin, Vice Chairman and Chief Financial Officer. "For the nine months ended March 31, 2004, this operation had sales of $11.4 million and operating income of $479,000, representing an insignificant portion of our consolidated operating results.

"Commencing in our fourth quarter ending June 30, 2004, the results of this operation will be shown as a discontinued operation and all prior periods will be restated to reflect a consistent classification treatment. We anticipate that the sale of this operation will result in a gain."

About Aeroflex

Aeroflex Incorporated is a global provider of high technology solutions to the aerospace, defense and broadband communications markets. The Company's diverse technologies allow it to design, develop, manufacture and market a broad range of test, measurement and microelectronic products. The Company's common stock trades on the Nasdaq National Market System under the symbol ARXX and is included in the S&P SmallCap 600 index. Additional information concerning Aeroflex Incorporated can be found on the Company's website: www.aeroflex.com.

All statements other than statements of historical fact included in this press release regarding Aeroflex's financial position, business outlook, business strategy and plans and objectives of its management for future operations are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Aeroflex or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Aeroflex's management, as well as assumptions made by and information currently available to its management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, competitive factors and pricing pressures, the divesture of its thin film interconnect and shock and vibration control device manufacturing businesses, the integration of the business of each of MCE Technologies, Celerity Systems and the Racal Instruments Wireless Solutions Group with Aeroflex, changes in legal and regulatory requirements, technological change or difficulties, product development risks, commercialization difficulties and general economic conditions. Such statements reflect our current views with respect to the future and are subject to these and other risks, uncertainties and assumptions relating to Aeroflex's financial condition, results of operations, growth strategy and liquidity. Aeroflex does not undertake any obligation to update such forward-looking statements.