Advanced Aerodynamics & Structures, Inc..

[jmhollen]

Mooney Airplanes Receive #1 Quality Rating From Airplane Owners Pilotreports, Inc. Reports Survey Results of 2060 Piston Airplane Owners

LONG BEACH, Calif., May 07, 2002 /PRNewsire-FirstCall via Comtex/ -- The Mooney
Aerospace Group, Ltd., formerly Advanced Aerodynamics & Structures, Inc. (OTC
Bulletin Board: AASI), announced today the results of a survey by Pilotreports,
Inc. in which owners of all brands of piston-powered airplanes ranked the
quality of their airplane. The Mooney product line received the highest quality
ranking of all surveyed piston brands.

Much like quality surveys in the automotive industry, Pilotreports measured
opinions in six key areas of satisfaction: Comfort, Performance, Reliability,
Manufacturer Support, Exterior and Overall Appeal. Each of these six quality
areas was measured by scoring and averaging multiple attribute ratings. For
example, Comfort was derived from individual measures for upholstery, cabin
noise, interior layout, passenger room and seat comfort.

Not only was Mooney rated #1 Overall, the brand received top ratings in two of
the six major categories.

Between February 15, 2002 and March 29, 2002, 8000 piston aircraft owners
received the online survey and 2060 of these owners responded. The results were
tabulated and released in April, 2002.

"This survey of current airplane owners reflects the long-established respect
for the Mooney brand," said Roy Norris, Chairman and CEO of Mooney Aerospace
Group. He added, "These are remarkable airplanes, with an extraordinary level of
owner loyalty. We are especially pleased to have had the opportunity to acquire
this product line and to return it to production. This survey reinforces our
belief that the Mooney products have an extraordinary future ahead."

Commenting on the survey, Dale Rummel, Executive Vice President of Operations
and Engineering for Mooney Aerospace Group said, "When you look at the way these
airplanes are designed and built, it's not surprising that owners would rate
them #1 in quality. No other single engine airplane offers this level of
structural integrity, speed and efficiency."

Pilotreports, Inc. is based in Wichita, Kansas and provides Internet-based
market research services to many leading aviation organizations including: AOPA,
BE A PILOT, Eclipse Aviation, Honeywell and Raytheon. This study is the first of
a planned series of annual surveys of aircraft owners. For information on this
research, contact Alan Goodnight at Pilotreports, Inc. (316-218-0475,
[e-mail] ).

Mooney Aerospace Group is a general aviation holding company that owns Mooney
Airplane Company in Kerrville, TX. Mooney Airplane Company currently markets
three Mooney models: Bravo, Ovation2 and Eagle2. Mooney production began 53
years ago and over 10,000 airplanes have been delivered worldwide. Complete
information on the Mooney Airplane Company and its products is available at
www.mooney.com .

For further information, please contact:

The Mooney Aerospace Group, Ltd., formerly Advanced Aerodynamics & Structures
Inc., Long Beach, Investor Relations Manager, 562/938-8618, [e-mail]
. For product or corporate information: Nelson Happy, Executive Vice President,
562/938-8618, [e-mail] . Additional information is available at
the Company's website: http://www.aasiaircraft.com

SOURCE The Mooney Aerospace Group, Ltd.

CONTACT: Roy Norris, [phone], [e-mail] , or Al
Eidson, [phone], [e-mail] , both for The Mooney Aerospace Group, Ltd.