CPI Aerostructures Awarded $2.3 Million Contract From Defense Supply Center Richmond; CPI To Build and Deliver 150 Door Panel Assemblies for C-5A Galaxy.

EDGEWOOD, N.Y. -- CPI Aerostructures, Inc. ("CPI") (AMEX: CVU) today announced that the Defense Supply Center Richmond ("DSCR") has awarded CPI a $2.3 million contract for 150 door panel assemblies for the world's largest aircraft, the C-5A Galaxy. This award is separate from the seven year C-5 TOP contract announced on May 5, 2004.

Edward J. Fred, CPI's President & CEO stated, "We have been doing business with DSCR for many years and we have been an important supplier of C-5 parts. Thus we are delighted but not surprised that CPI was selected to produce these door panel assemblies, which is a new part for us. This contract brings the total number of parts that we have supplied for the C-5 to over 625 since beginning work on the aircraft in 1995. Our stellar track record of producing extremely technical assemblies to specification while providing on-time delivery is the reason CPI is a preferred vendor for C-5 replacement parts. We will continue to leverage our expertise on this aircraft, which is scheduled to fly through 2040."

Founded in 1980, CPI Aerostructures is engaged in the contract production of structural aircraft parts principally for the U.S. Air Force and other branches of the armed forces. In conjunction with its assembly operations, CPI provides engineering, technical and program management services. Among the key programs that CPI supplies are the C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet and the E-3 Sentry AWACS jet.

The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI's SEC reports, including CPI's Form 10-KSB for the year ended December 31, 2003 and the 10-QSB for the quarter ended March 31, 2004.