Arizona Aircraft Spares, Inc. Completes Negotiations for Telco Corporation Asset Purchase.

TUCSON, Ariz. -- Arizona Aircraft Spares, Inc. ("AZAA" or the "Company") (OTCBB:AZAA) (the "Company") today announced that it has completed negotiations to purchase the assets of one of the world's fastest growing telecommunication multi-level marketing companies. The telecommunication company was established to provide discounted wireless cellular phone service throughout the world through the use of their new innovative software.

Vito Peppitoni, President and CEO, stated, "I believe the actions that will be taken by AZAA following these negotiations will be a huge benefit to AZAA's current and future shareholder base by the purchase of the telecommunications company's assets. The telecommunications company was able to establish a foundation of over $18 million in gross revenues with profits of over $2 million, while operating in over 200 countries. The purchase of these assets are estimated to provide sales for 2005 in excess of over $70 million, with profits estimated at approximately $14 million."

Mr. Peppitoni went on to state that, "I believe the acquisition of these assets will accelerate our company's five-year sales projections (previously established at $50 million in the fifth year) in less than half the time. By combining our joint markets, telecommunications and military business, we would drastically increase AZAA's total five year projection forecasts."

Mr. Peppitoni further emphasized that "AZAA's past experience in U.S. governmental contracting could prove profitable by now being expanded to include bidding on telecommunication contracts with the defense department, Homeland Security and many of the U.S.'s largest prime contractors."

The two companies are working on collectively drafting a letter of intent which will soon be signed. Further details will be given in a future release.

AZAA is a leading military spare parts manufacturer. AZAA focuses on manufacturing state of the art military aircraft parts and ground support systems for the United States Government, specifically the Air Force, Army and Navy, as well as large US prime contractors such as Boeing (NYSE:BA) and Northrop Grumman (NYSW:NOC). For more information, please visit AZAA's Web site at www.arizonaaircraftspares.com.

Safe Harbor Statement

Note: Certain statements in this news release may contain "forward-looking" information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. AZAA undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.