Advanced Aerodynamics & Structures, Inc..

[jmhollen]

Nicolas Chabbert Joins Mooney Aerospace as EVP of Sales & Marketing; East Coast Sales Manager Also Announced

LONG BEACH, Calif.--(BUSINESS WIRE)--July 9, 2002--Mooney Aerospace Group, Ltd. (OTCBB: AASI) announced today that worldwide recognized expert in General Aviation sales and marketing Nicolas Chabbert has joined the company as Executive Vice President of Sales & Marketing.

Mr. Chabbert is considered one of the leading authorities in the world in General Aviation sales and marketing, having among his most noteworthy achievements the tremendously successful introduction of the Socata TBM-700 single engine turboprop aircraft to the United States.

Mr. Chabbert spent over ten years in general aviation marketing at Socata. Most recently, he served as Senior Vice President Sales & Marketing for Socata Aircraft. Earlier, he served as Director of International Sales for Socata Group Aerospatiale. Mr. Chabbert holds an advanced degree in International Business and holds an Air Transport Pilot rating.

Mr. Chabbert's role will be to lead the worldwide marketing and sales program for Mooney Aerospace Group. He will also be responsible for developing Mooney's three sales centers in Long Beach, Calif., Southern Florida, and Kerrville, Texas, as well as Mooney's team of regional sales representatives.

"Mooney Aerospace Group is delighted to have an individual of Nicolas Chabbert's caliber join our organization," said Roy Norris, Chairman and Chief Executive Officer of Mooney Aerospace Group, Ltd. He added: "At Socata Aircraft, he developed and managed over $100 million in annual sales. His years in aircraft sales and marketing, and particularly his international aircraft marketing experience, will help us achieve the aggressive goals we have set for Mooney both domestically and in the international market."

Mooney Aerospace Group also announced that Earle Boyter had joined the company as Sales Manager for Mooney's Eastern U.S. sales and marketing operations. He will be based in Vero Beach, Florida. Mr. Boyter has over twenty years of general aviation experience and was formerly head of all marketing and sales for Piper Aircraft Company. He also has held marketing and sales management positions at Diamond Aircraft and, most recently, at Socata Aircraft.

"Both Nicolas Chabbert and Earle Boyter represent world-class marketing professionals in General Aviation and continue our tradition of assembling the most talented team of General Aviation professionals in the industry. With our plans for rapid expansion into additional General Aviation product lines, we wanted only individuals with remarkable track records of success in marketing aircraft and the ability to manage a much broader product line than just Mooney. In these two gentlemen, we have exactly that," commented Roy Norris.

Mooney Aerospace Group, Ltd. is a general aviation holding company that owns Mooney Airplane Company in Kerrville, Texas. 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 known as Advanced Aerodynamics & Structures Inc., Long Beach, Investor Relations Manager, 562/938-8618, [e-mail]. For product or corporate information: J. Nelson Happy, Executive Vice President, 562/938-8618, [e-mail]. Additional information is available at the Company's website: www.mooney.com.

CONTACT: For Mooney Aerospace Group, Ltd.
Roy Norris, 562/938-8618
Al Eidson, 816/474-0747