Aviation Sales Company Completes Acquisition of Triad International Maintenance Company - TIMCO.

MIAMI--(BUSINESS WIRE)--Sept. 23, 1998--Aviation Sales Company (NYSE:AVS) announced today that it has completed the acquisition of Triad International Maintenance Company ("TIMCO") from Primark Corporation (NYSE/PSE: PMK). Under the terms of its acquisition agreement, the Company paid $70.0 million in cash to acquire TIMCO. TIMCO had revenues of $113.3 million and $72.0 million, respectively, for the 1997 fiscal year and the six months ended June 30, 1998. The acquisition is expected to be slightly accretive to the Company's earnings in fiscal 1998 and should add $0.10 to $0.15 of earnings (on a diluted basis) in 1999. TIMCO, based in Greensboro, North Carolina, operates a FAA licensed repair station specializing in the overhaul and modification of narrow-body and widebody aircraft.

Dale S. Baker, the Company's Chairman and CEO stated: "We are extremely excited about the acquisition of TIMCO, as it positions us to be a major force in the $17 billion North American aircraft and component maintenance market. Together, between TIMCO and our Aero Corp. operation, we now have approximately 1.4 million square feet of hangar space, making AVS one of the largest providers of aircraft maintenance services in North America. TIMCO's wide-bodied experience, combined with Aero Corp.'s strong Maintenance, Repair and Overhaul ("MR&O") coverage by narrow-bodied aircraft, enables us to provide total aircraft maintenance solutions to meet all of our current and future customer's MR&O requirements. All of our aircraft heavy maintenance, repair and overhaul operations will now be operated together under the TIMCO name."

Aviation Sales Company is a recognized worldwide leader in the aircraft spare parts manufacturing, maintenance, repair and overhaul and redistribution market, selling parts for Boeing, McDonnell Douglas, Lockheed and Airbus aircraft, and Pratt & Whitney, General Electric and Rolls Royce jet engines. Offering inventory management services, including purchasing services, repair management, warehouse management, aircraft disassembly services and consignment and leasing of aircraft spare parts, Aviation Sales Company is a leader in Total Inventory Solutions(R) designed to meet the diverse needs of its customers. Aviation Sales Company also manufactures certain aircraft parts for sale to original equipment manufacturers, including precision engine parts, and provides aircraft and aircraft part repair services at its FAA licensed repair facilities. This press release contains forward-looking statements, which involve risks and uncertainties. Aviation Sales Company's actual results could differ materially from the results anticipated herein. For further information, please see Aviation Sales Company's Annual Report on Form 10-K, as amended, for the 1997 fiscal year.