American Aircarriers Support, Inc. Announces First Contract for AAS Aircraft Services With FINOVA.

Business Editors

FORT MILL, S.C.--(BUSINESS WIRE)--March 21, 2000

American Aircarriers Support, Incorporated (Nasdaq: AIRS), an integrated aviation maintenance, repair and overhaul service provider, announced that its subsidiary, AAS Aircraft Services, was awarded a contract from FINOVA Capital Corporation, a subsidiary of The FINOVA Group Inc. (NYSE: FNV), one of the largest commercial finance companies in the United States,. This is AAS Aircraft Services' first contract for heavy aircraft maintenance, terms were not disclosed.

The contract is to complete the maintenance and modification on a Boeing 727-200F series aircraft and will include CPCP inspections, C-check maintenance, Stage III hush kitting, weight upgrade, Service Bulletins, paint and Airworthiness Directives.

"We are excited to have one of the airline industry's most prestigious finance and leasing companies as our launch customer," said Robert E. Doll, President of AAS Aircraft Services. "We expect this to be the beginning of a long-term relationship with FINOVA. The services being provided in this contract are just some of the extensive heavy maintenance and modification services that we can provide for our customers."

Mr. Doll is president of AAS Aircraft Services, Inc. a subsidiary of American Aircarriers Support, Inc. Prior to joining the company in January 2000, Mr. Doll was President and CEO of Tech/Ops International. He has more than thirty years experience in the transportation and manufacturing industries as a line manager, an operations management expert and as a consultant. Prior to forming Tech/Ops International in 1993, Mr. Doll served as a vice president with United Airlines and Continental Airlines and as Maintenance Division Director for Eastern Airlines. He currently is Chairman of the FAA RE&D Advisory Committee and sits on the Goals Subcommittee of NASA's ASTAC and the Aerospace Advisory Council of SAE.

The FINOVA Group Inc., through its principal operating subsidiary, FINOVA Capital Corporation, is one of the nation's leading financial service companies focused on providing a broad range of capital solutions primarily to midsize business. FINOVA is headquartered in Scottsdale, Ariz., with business development offices throughout the U.S. and in London, U.K., and Toronto, Canada. For more information, visit the company's website at www.finova.com.

About American Aircarriers Support, Incorporated

American Aircarriers Support, Incorporated founded in 1985, provides integrated aviation services, including maintenance, repair and overhaul services and spare parts sales for commercial airlines, cargo operators and maintenance and repair facilities worldwide. The company offers engine and aircraft management services, as well as heavy maintenance for complete aircraft, maintenance, repair and overhaul of flight controls, landing gear systems and jet engines at its FAA licensed facilities.

Except for historical information contained herein, Company statements in paragraph three and the statements of Mr. Doll in this release include forward-looking statements and projections (including statements concerning projections and objectives of management for future operations) that are based on management's belief, as well as assumptions made by, and information currently available to, management.

While American Aircarriers Support, Incorporated believes that its expectations are based upon reasonable assumptions, there can be no assurances that the Company's objectives or goals will be realized. Numerous factors (including risks and uncertainties) may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by or on behalf of the Company. Some of these factors include the business conditions in the aircraft services and spare parts industry and the general economy, the extensive regulatory compliance required in the aircraft repair and maintenance business, the Company's rapid growth strategy, competitive factors, inventory concentration risks, availability of inventory, expansion of services and product lines, debt financing and the ability to finance future growth and other risks or uncertainties detailed in the Company's Form 10-KSB and other filings with the SEC.