CPI Aero Wins $1.49 Million Production Program.

EDGEWOOD, N.Y. -- CPI Aerostructures, Inc. ("CPI Aero") (AMEX: CVU) announced today that it has received a new contract from a leading global aerospace and defense company to produce aircraft structural assemblies. This award is valued at approximately $1.49 million.

CPI Aero will begin work on this contract immediately, producing eight ship sets of assemblies under this award. Deliveries will commence during the first quarter of 2008 and should be completed by year-end.

Edward J. Fred, CPI Aero's CEO and President, stated, "This award is similar in nature to an award CPI Aero received in March 2004 for the same assemblies, and from this same global aerospace leader. We are very proud that our performance on the previous contract provided the customer with the confidence to award us this production program."

CPI Aero is engaged in the contract production of structural aircraft parts for the U.S. Air Force, other branches of the armed forces and leading prime defense contractors. In conjunction with its assembly operations, CPI Aero provides engineering, technical and program management services. Among the key programs that CPI Aero supplies are the C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet, the E-3 Sentry AWACS jet, UH-60 Black Hawk helicopter, and the MH-60S mine countermeasure helicopter.

The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero's SEC reports, including CPI Aero's Form 10-K for the year ended December 31, 2006 and Form 10-Q for the quarter ended March 31, 2007.