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02/22 07:31 AASI Aircraft JETCRUZER 500 Passes FAA Main Wing Roll Initiation
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AASI Aircraft JETCRUZER 500 Passes FAA Main Wing Roll Initiation Structural Test; Up to 2.4 g Load Factor, 100 Percent Limit Load
LONG BEACH, Calif.--(BUSINESS WIRE)--Feb. 22, 2001--Advanced Aerodynamics & Structures Inc. (Nasdaq:AASI) today announced that the JETCRUZER 500(TM) main wing has passed an FAA main wing roll initiation test.

The main wing was tested to 100 percent limit load to a 2.4 g load factor with no permanent deformation.

The FAA delegated Mike Lai, AASI vice president of engineering and FAA designated engineering representative (DER), to witness the test on behalf of the FAA. No excessive binding in the aileron and rudder control system at 100 percent limit load was observed during the test.

Dr. Carl Chen, chairman and chief executive officer of AASI, said, "We are delighted with the speed at which this test was set up and the turn-around time from the last successful test conducted approximately two weeks ago.

"AASI Aircraft is now moving ahead to configure the JETCRUZER 500 for the final and fourth test of its main wing, the steady roll limit load test. The remaining primary structure tests include the forward (canard) wing ultimate load test, fuselage bending ultimate load test with nominal pressure level, the main wing ultimate load test and the landing gear drop test. The majority of these tests previously have been conducted on the JETCRUZER 450. We are confident these tests will be passed by the end of the third quarter of 2001."

AASI Aircraft currently has 188 JETCRUZER 500 aircraft orders, representing a backlog of US$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 feet. The first delivery of JETCRUZER 500 is expected to be around the third quarter of 2001.

The statements in this news release, including the statements made by Dr. Carl Chen, are forward-looking statements that involve a number of risks and uncertainties. As discussed in Advanced Aerodynamics & Structures Inc.'s ("the company") Annual Report on Form 10-K for the year ended Dec. 31, 1999, assumptions relating to the foregoing involve judgments with respect to, among other things, the ability of the company to complete the due diligence relative to the acquisition and obtain the necessary shareholder and regulatory approval. Although the company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by the company or any person that the company's objectives or plans will be achieved. The company undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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CONTACT: Advanced Aerodynamics & Structures Inc., Long Beach

David M. Turner, 562/938-8618

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