Astronics and Circuit World Corporation Terminate Agreement.

Business Editors

EAST AURORA, N.Y.--(BUSINESS WIRE)--May 11, 2004

Astronics Corporation (NASDAQ: ATRO), a leader in advanced, high-performance aircraft lighting and electronics systems for the global aerospace and defense industry, announced today that negotiations to acquire the assets of FTG Aerospace from Circuit World Corporation (TSX: CCW) have been terminated. During the due diligence process, Circuit World decided to retain the assets of its FTG Aerospace division and withdrew it from the market. Astronics had announced on March 2, 2004, that it had signed a Letter of Intent (LOI) to acquire the assets of FTG Aerospace from Circuit World Corporation.

Peter Gundermann, President and CEO of Astronics commented, "We are disappointed with Circuit World's decision to withdraw its offer, but are comfortable with accepting their change of course. We continue to evaluate opportunities which align with our strategy to supply comprehensive lighting system solutions for the military, business jet and commercial transport markets."

ABOUT ASTRONICS CORPORATION

Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. Its strategy is to advance from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to a growing number of aircraft platforms. Luminescent Systems Inc. is Astronics' primary operating subsidiary which produces its aerospace and defense products.

For more information on Astronics and its products, visit its website at www.Astronics.com.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words "expect," "anticipate," "plan," "may," "will," "estimate" or other similar expression. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially than those contemplated by the statements. Important factors that could cause actual results to differ materially include the Company's ability to execute its strategy, that future acquisitions will occur, the impact of the economy, the state of the aerospace industry, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this press release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.