Utilicraft Aerospace Ind. Inc. (fka AMUC)

[Art2Gecko]

Utilicraft Gives Metalcraft `Go-Ahead' for Construction of the Center Fuselage [DWMCCPZ]

Section of FF-1080 Prototype Aircraft

Business Editors

LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--Feb. 7, 2005--Utilicraft Aerospace Industries, Inc. -- Utilicraft Aerospace Industries, Inc., (Utilicraft) gave Metalcraft Technologies, Inc. (MTI) the "go ahead" today to begin construction of the initial sub-assembly center-fuselage-section of the prototype FF-1080-300 aircraft, as per the terms of the Manufacturing Agreement executed between the companies late last year.
After several months of extensive meetings between engineers and executives representing both companies, MTI and Utilicraft reached a decision this week to go forward with "cutting metal" on the first pieces of the constant section (main cargo bay) of the fuselage.
Chuck Taylor, Vice President of MTI stated, "We are very pleased to be part of the Utilicraft program, and are excited about commencing construction of the FF-1080-300 prototype aircraft. MTI has been working with John Dupont and his management team on the program since 1998. We are very impressed with their professionalism regarding the design and development of the aircraft, as well as the on-going development of their company in today's aerospace and financial markets."
When completed, the center fuselage section will accommodate up to ten LD-3 containers or seven of the larger "A" series containers with as much as 10 tons of revenue pounds on board -- on the production versions of the aircraft.
Details of the progress of the on-going construction of the center fuselage assembly will be the topic of a series of on-going joint-releases by Utilicraft and MTI that will track the schedule and milestones of the prototype aircraft -- leading to first flight.
Under the terms of the contract entered into last year by the companies, MTI will provide the following for the initial FF-1080 prototype, first article test aircraft, and up to 528 production aircraft:

-- Manufacture of all of the details for the forward, center, and
aft fuselage and empennage assemblies.

-- Design and manufacture of all required assembly jigs and
fixtures.

-- Assembly of the forward and aft sections of the fuselage
(including horizontal and vertical stabilizers) at their
facility in Cedar City, Utah.

-- Technical assistance and supervision for the assembly of the
center fuselage by Utilicraft.

-- Technical assistance and supervision for the mating of the
forward, center, and aft fuselage, and empennage assemblies at
the Utilicraft final assembly facility, planned to be located
at the Double Eagle II Airport, in Albuquerque, NM.

About Metalcraft Technologies

MTI is a full-service, vertically integrated, aerospace components manufacturer specializing in fabrication of sheet metal parts, machining of precision parts, processing/finishing parts, and production of both minor and major structural assemblies.
MTI provides parts and components to nearly all the major aircraft manufacturers and has participated in numerous prototype/flight test article programs for new aircraft designs. MTI has an AS9100 approved Quality system and is Nadcap certified for Dye Penetrant Testing, Heat Treatment, and Plating/Painting.

About Utilicraft Aerospace Industries, Inc.

Utilicraft Aerospace Industries, Inc. was formed to target the significant problem of addressing the overnight express, supply chain, e-commerce, and global third party logistics entities' inability to provide effective "containerized" fulfillment and distribution in the short haul (or feeder) route segments of air cargo. The Company's new air vehicle, the FF-1080 Freight Feeder aircraft, is capable of carrying standard industry air cargo containers on short-to-medium range/medium density routes, combined with an integrated air cargo information system for the freight feeder market. For more information visit the Company's website at www.utilicraft.com.

Safe Harbor Statement

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release involve risks and uncertainties and reflect the company's current views with respect to possible future events. Readers are cautioned that no forward-looking statement can be guaranteed and actual results or events may materially differ from those projected or anticipated. In particular, the following factors, among others, could cause actual results or events to differ materially from those described in the forward-looking statements: the company's ability to obtain and fulfill contracts for the sale of products, protect intellectual property rights and manage future growth; market acceptance of future products; product supplier delays; design and engineering certification delays or denials; and the introduction of similar products by competitors. Any forward-looking statement made in this press release is made as of the date of this press release, and the company assumes no obligation to update any such forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect the company's business.

--30--LK/at*

CONTACT: Utilicraft Aerospace Industries, Inc.
John J. Dupont, 678-376-0898
Fax: [phone]
www.utilicraft.com
or
Metalcraft Technologies, Inc.
Chuck Taylor, 435-586-3817
Fax: [phone]
www.metalcraft.net

KEYWORD: GEORGIA
INDUSTRY KEYWORD: AEROSPACE/DEFENSE AIRLINES TRANSPORTATION PRODUCT
SOURCE: Utilicraft Aerospace Industries, Inc.

Copyright Business Wire 2005

07Feb05 16:51 GMT
Source BW Business Wire
Categories: MST/I/AIR MST/I/ARO MST/I/TRQ MST/L/EN MST/R/US/GA MST/S/PDT TGT/BWN