Aerosonic Announces Filings of Amended Financial Statements.

CLEARWATER, Fla. -- Aerosonic Corporation (AMEX:AIM), a leading supplier of precision flight products for commercial, business and military aircraft, announced that today it filed with the U.S. Securities and Exchange Commission, an amendment to its annual report of Form 10-K for the fiscal year ended January 31, 2004 and amendments to its quarterly reports on Form 10-Q for the fiscal quarters ended April 30, 2004 and July 30, 2004.

These amendments follow the initial announcement by the Company, in its September 14, 2004 press release, that the U.S. Internal Revenue Service had denied income tax refund claims totaling approximately $873,000 for the tax years ended January 31, 1998 and 1999, which the Company sought as a result of the 2003 restatements of the Company's financial statements for prior years.

Since its September 14, 2004 announcement, the Company has been working with its tax advisors to review the income tax filings for 1998, 1999 and subsequent years to ensure appropriate tax treatment for the charges resulting from the restatements. In that regard, on October 14, 2004, the Company filed an amended tax return for its fiscal year ended January 31, 2001 and subsequently received a refund of approximately $301,000 on November 29, 2004, on the basis of that amended return. The impact of this refund is reflected in the amended SEC filings and reduces the Company's expected January 31, 2004 balance sheet reductions in income taxes receivable and stockholders equity (to $572,000 from $873,000), that had been announced on September 14, 2004.

The Company continues to work with its tax advisors to identify and pursue all appropriate uses of the net operating losses that resulted from the 2003 restatements of its prior years' financial statements, including the losses that the IRS disallowed in the amended 1998 and 1999 returns.

Aerosonic Corporation, headquartered in Clearwater, Florida, is principally engaged in the manufacture of aviation products. Locations and divisions of the Company include: Clearwater, Florida Instrument Division; the Aerosonic Wichita, Kansas Division; Avionics Specialties, Inc., a Virginia corporation wholly owned by the Company; and the Clearwater, Florida Precision Components Division. For additional information, visit http://www.aerosonic.com.

This document contains statements that constitute "forward-looking" statements within the meaning of the Securities Act of 1933 and the Securities Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. "Forward-looking" statements contained in this document include the intent, belief or current expectations of the Company and its senior management team with respect to future actions by officers and directors of the Company, prospects of the Company's operations, the amount of any anticipated restatements, profits from future operations, income tax deductions and reactions by the IRS, and the Company's overall future business prospects, as well as the assumptions upon which such statements are based.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance or future tax treatment, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those contemplated by the forward-looking statements in this document include, but are not limited to, adverse developments with respect to the resolution of management issues, operations of the Company's business units, failure to meet operating objectives or to execute the business plan, and the failure to reach revenue or profit projections. The Company undertakes no obligation to update or revise the forward-looking statements contained in this document to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results over time.