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AASI Aircraft Appoints Former Member of Canadian Parliament to Board; Hon. Robert Kaplan Served as Cabinet Minister in Trudeau Administration.

Business Editors

LONG BEACH, Calif.--(BUSINESS WIRE)--April 18, 2001

Advanced Aerodynamics & Structures Inc. (Nasdaq:AASI) today announced the appointment of the Honorable Robert P. Kaplan, a former member of Canada's Parliament, to its board of directors.

Kaplan joins James A. Lovell, former spacecraft commander of the Apollo 13 mission, and recently appointed board member Roy Norris, former president of Raytheon Aircraft and a 25-year aerospace industry executive.

Kaplan, 65, began a 25-year political career as a member of the late Pierre Elliott Trudeau's Leadership Team during the Prime Minister's tenure as Canada's Minister of Justice. He was elected to Parliament in 1968 as a Liberal Party candidate from Toronto and was subsequently reelected in 1974, 1979, 1980, 1984 and 1988. Kaplan announced in 1991 that he would not stand for reelection in the October 1993 general election.

"We are honored to have Mr. Kaplan join AASI's board of directors. His distinguished career and business experience will be invaluable to the company as we move closer to introducing the JETCRUZER 500 to the aviation marketplace," said Dr. Carl Chen, president and chief executive officer of AASI.

During his public service as a Member of Parliament, Kaplan represented Canada in 1968 and 1969 at the United National General Assemblies in New York, during which time Canada implemented a policy of recognizing the People's Republic of China. His political career also includes serving as Chairman of the House of Commons Finance Committee -- guiding legislation that allowed, for the first time, the admission of foreign bank subsidiaries to Canada.

Kaplan subsequently joined the Trudeau Cabinet as a Cabinet Minister, the Solicitor General of Canada, an appointment continued through the administration of Rt. Hon. John Napier Turner. He was responsible for law enforcement and national security, directing the Royal Canadian Mounted Police, the Canadian Security Intelligence Service, the Correctional Service of Canada and the National Parole Board.

Kaplan graduated with honors with a bachelor of science degree in sociology and was awarded a bachelor of laws degree from the University of Toronto. He was admitted to Canada's Bar in Ontario in 1963 and practiced law in Toronto, specializing in tax and corporate law.

He was sworn as a Privy Councillor and Queen's Counsel in 1980. Kaplan is the holder of the Queen's 25th Anniversary Medal and the Centennial Medal and was decorated in France by the Association Interparlementaire de la Langue Francaise for his service to francophonie in Canada.

Since retiring from public service, Kaplan has held a variety of corporate positions, including serving as a director of Hurricane Hydrocarbons Ltd. (Nasdaq: HHLF; TSE: HHL.A), a Calgary-based company with interests in oil fields and a major refinery in Kazakhstan that produces approximately 10 percent of that country's oil. He also served as chairman of the company and currently chairs its Audit Committee.

Kaplan also serves as a director of H&R Real Estate Investment Trust (TSE: HR_u.) and Rex Diamond Mining Corp. (TSE: RXD), a South African diamond producer with exploration activity in Mauritania.

AASI currently has 188 JETCRUZER 500 aircraft orders, representing a backlog of $226 million. The JETCRUZER 500 is a high-speed single engine, corporate propjet aircraft that can accommodate first class seating for six people, including the pilot. Powered by a Pratt & Whitney propjet engine, the JETCRUZER 500 will cruise near jet speeds of 345 miles per hour at altitudes of up to 30,000 ft.

Advanced Aerodynamics & Structures is a development-stage company organized to design, develop, have certified by the FAA, manufacture and market propjet and jet aircraft for the world business, commercial and government markets.

Certain statements contained in this news release, including statements concerning AASI's ("company") ability to continue to obtain market acceptance of the JETCRUZER 500 aircraft, the company's ability to obtain regulatory approval of the JETCRUZER 500, and the competitive market for sales of small business aircraft and other statements contained herein regarding matters that are not historical facts, are forward-looking statements; actual results may differ materially from those set forth in the forward-looking statements, which statements involve risks and uncertainties, including without limitation those risks and uncertainties set forth in the company's Registration Statement on Form SB-2 under the heading "Risk Factors," and the company's Form 10-KSB and Form 10-QSB on file with the SEC.
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Publication:Business Wire
Geographic Code:1USA
Date:Apr 18, 2001
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