Vought Completes Purchase of The Aerostructures Corp.

DALLAS, JULY 2, 2003 – Vought Aircraft Industries, Inc. announced that its transaction to acquire The Aerostructures Corp. closed today. Effective immediately, The Aerostructures Corp. will operate as a wholly owned subsidiary of Vought Aircraft Industries, Inc. Terms of the agreement were not disclosed.

“The completion of this sales agreement marks the official beginning of our combined entity,” said Vought President and CEO Tom Risley. “We’ll now move forward to leverage the complementary skills and strengths of our two companies.”

The combined company, which designs and manufactures airframe structures, will have annual revenues of approximately $1.4 billion and more than 6,000 employees in seven U.S. locations.

The Aerostructures Corp. is based in Nashville, Tennessee, and also has manufacturing sites in Brea, California, and Everett, Washington. It employs approximately 1,400 people nationwide and has annual sales exceeding $300 million. Its primary customers include Airbus, Lockheed Martin, Gulfstream and Bell Helicopter.

Vought Aircraft Industries, Inc. (www.voughtaircraft.com) is the world’s largest independent supplier of aerostructures. Headquartered in Dallas, Texas, the company provides wings, fuselage subassemblies, empennages, nacelles, thrust reversers and other components for prime manufacturers of aircraft. Vought has more than 5,000 employees and annual sales exceeding $1 billion. Vought’s primary customers include Boeing, Gulfstream, Lockheed Martin and Northrop Grumman. It has operations in Dallas; Hawthorne, California; Stuart, Florida; and Milledgeville, Georgia.

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