Pemco Aeroplex Selected for L3 Team

    Business Editors

    BIRMINGHAM, Ala.--(BUSINESS WIRE)--Feb. 14, 2005--Pemco Aviation Group, Inc. (NASDAQ:PAGI) announced today that it has entered into a Teaming Agreement with L-3 Communications Integrated Systems, (L3/IS), a subsidiary of L-3 Communications (NYSE:LLL), for the joint pursuit of business opportunities relating to military aircraft heavy maintenance, including the U.S. Navy's P-3 Orion.
    The work would be performed at Pemco Aeroplex, subsidiary of Pemco Aviation Group, located at Birmingham, Alabama.
    "The L-3 / Pemco relationship is significant in terms of the benefits available to the government in aircraft repair and maintenance," said Ron Aramini, President and Chief Executive Officer of Pemco Aviation Group, Inc. "This team can provide exceptional capabilities in depot maintenance and repair, systems integration, engineering services and modernization of aircraft. Pemco, capable of housing more than 50 aircraft simultaneously, provides its customers and partners technical expertise, excellent quality, schedule reliability and cost efficiencies. We are pleased to team with L-3/IS and look forward to expanding and building our relationship."
    Bob Drewes, L-3/IS President, said, "L-3 has earned an impeccable reputation for our capabilities in aircraft maintenance and modernization. Pairing our expertise with Pemco's experience with large military aircraft will enable our team to deliver unmatched value to the customer."
    L-3/IS is recognized internationally as a systems integration organization specializing in the modernization and maintenance of aircraft of all sizes, and the study, design, development, and integration of special-mission systems for military and commercial applications. The company has modified more than 15,000 different aircraft of more than 125 types. Headquartered in Greenville, Texas, L-3/IS operates from sites in Austin and Waco, Texas, Madison, Mississippi, Lexington, Kentucky, Tulsa, Oklahoma, Newport News, Virginia, and Melbourne, Australia.
    Headquartered in New York City, L-3 Communications is a leading provider of Intelligence, Surveillance and Reconnaissance (ISR) systems, secure communications systems, aircraft modernization, training and government services and is a merchant supplier of a broad array of high technology products. Its customers include the Department of Defense, Department of Homeland Security, selected U.S. Government intelligence agencies and aerospace prime contractors.
    Pemco Aviation Group, Inc., with executive offices in Birmingham, Alabama, and facilities in Alabama, Florida, and California, performs maintenance and modification of aircraft for the U.S. Government and foreign and domestic commercial customers. The company also provides aircraft parts and support and engineering services and full service overhaul and repair for a wide range of aircraft. Pemco Aviation Group also develops and manufactures aircraft cargo systems, rocket vehicles and control systems, and precision components for the aviation industry.

    This press release contains forward-looking statements made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be identified by their use of words, such as "believe," "expect," "intend" and other words and terms of similar meaning, in connection with any discussion of the Company's prospects, financial statements, business, financial condition, revenues, results of operations or liquidity. Factors that could affect the Company's forward-looking statements include, among other things: negative effects arising from the Company's previously announced investigation and restatement; changes in global or domestic economic conditions; the loss of one or more of the Company's major customers; the Company's ability to obtain additional contracts and perform under existing contracts; the outcome of pending and future litigation and the costs of defending such litigation; financial difficulties experienced by the Company's customers; potential environmental and other liabilities; the inability of the Company to obtain additional financing; regulatory changes that adversely affect the Company's business; loss of key personnel; and other risks detailed form time to time in the Company's SEC reports, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2003. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company does not undertake any obligation to update or revise any forward-looking statements and is not responsible for changes made to this release by wire services or Internet services.

--30--SH/na*

CONTACT: Pemco Aviation Group, Inc., Birmingham Doris Sewell or Hal Chrisman, 205-510-4935

KEYWORD: CALIFORNIA ALABAMA INDUSTRY KEYWORD: AEROSPACE/DEFENSE AIRLINES TRANSPORTATION MANUFACTURING MARKETING AGREEMENTS SOURCE: Pemco Aviation Group, Inc.

Copyright Business Wire 2005