CPI Aerostructures Announces $2.1 Million Military Contract Award.

EDGEWOOD, N.Y. -- CPI Aerostructures, Inc. (AMEX Symbol: CVU) announced today that it has been awarded a $2.1 million contract to provide the U.S. Government with nineteen landing gear door assemblies for its E-3A Airborne Early Warning aircraft. The E-3A is used primarily by the United States and NATO to detect impending danger and perform electronic jamming functions.

"This is the third award we have received from Tinker Air Force base this month, totaling more than $6.3 million," stated Edward J. Fred, CPI Aero's CEO & President. "This very positive development is an indication of our solid performance and the excellent quality of the products delivered to this Air Logistics Center in the past, and our customer's continued confidence in CPI Aero's ability to perform at the highest levels," concluded Mr. Fred.

CPI Aero is engaged in the contract production of structural aircraft parts principally 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 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, 2005 and Form 10-Q for the quarters ended March 31, 2006, and June 30, 2006.