CPI Aero Announces $1.03 Million Order from Lockheed Martin

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE Amex: CVU) announced today that it has received an order from Lockheed Martin Corporation (“Lockheed”) to produce aircraft structural assemblies for the U.S. Navy’s P-3 “Orion” aircraft, valued at $1.03 million. Work on this order will commence immediately and deliveries will run through mid 2011.
Edward J. Fred, CPI Aero’s CEO and President, stated, “This order from Lockheed, a long-term customer with whom we have had a solid relationship, diversifies the parts we produce on a platform for which we’ve already provided quality deliveries and enables us to continue to support a vital U.S. Navy program. This award enhances our current business and we believe it improves our prospects for future orders from Lockheed.”
About Lockheed Martin Corporation
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.
About CPI Aero
CPI Aero is engaged in the contract production of structural aircraft parts for leading prime defense contractors, the U.S. Air Force, and other branches of the armed forces. 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 UH-60 BLACK HAWK helicopter, the Sikorsky S-92 helicopter, the MH-60S mine countermeasure helicopter, the E-2D Hawkeye, the Gulfstream G650, C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet, and the E-3 Sentry AWACS jet. CPI Aero is included in the Russell Microcap® Index.
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, 2008, and Form 10-Q for the quarters ended March 31, 2009, June 30, 2009 and September 30, 2009.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc.

Contact:
CPI Aero

Vincent Palazzolo,

631-586-5200

Chief Financial Officer

www.cpiaero.com

or

Investor Relations Counsel

The Equity Group Inc.

Lena Cati,

212-836-9611

Linda Latman,

212-836-9609

www.theequitygroup.com