AASI Set for Full-Scale Production of JETCRUZER 500(TM) Completes Tooling and Autoclave

LONG BEACH, Calif., August 13, 1999 (PRIMEZONE) -- Advanced Aerodynamic and Structures, Inc. (Nasdaq:AASI) today announced that the company has completed final installation, calibration and testing of all its production equipment, including its advanced autoclave, in preparation for full-scale production of the Company's new JETCRUZER 500 (TM)aircraft.

Dr. Carl Chen, chairman and chief executive officer, said, "Production tooling required to assemble the JETCRUZER in large quantities has been completed, including jigs, assembly tooling and molds for the graphite composite fuselage, cowlings, and other components. Some smaller secondary structural tooling for items such as fairings, are in the final stages of completion.

He noted that production on many smaller components has been started, and the company is close to finalizing purchasing contracts with suppliers of the futuristic propjet aircraft. AASI has a two-year sales backlog exceeding $200 million."

AASI's state-of-the-art nitrogen pressurized autoclave, which is used to fabricate the aircraft fuselage, has completed its required testing and certification and has performed to specifications. Pressurization testing on the ground for the fuselage is scheduled to be completed over the following months.

The autoclave also has been approved for processing components under FAA Part 23 (corporate and general aviation aircraft), Part 25 (airliners and large cargo aircraft, etc.) as well as NASA, military and fighter aircraft components.

"The autoclave permits us to produce an entire fuselage and components in only eight hours," said Gene Comfort, executive vice president of AASI. "Time, labor and cost are substantially reduced, weight is less and strength is increased with the autoclave processing of the stealth fighter type advanced pre-preg graphite material."

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 fly at 360 miles per hour from Los Angeles to New York at altitudes up to 30,000 feet, with only one stop.

To date, AASI has orders for over 172 of the corporate aviation industry's newest executive propjet aircraft, representing a backlog that exceeds $200 million.

Advanced Aerodynamics & Structures, Inc. 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 the Company's future cash and financing requirements, the Company's 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 setforth 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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