Vought Aircraft Industries Announces Notes Exchange Offer

DALLAS, JULY 1, 2004 -- Vought Aircraft Industries, Inc. today announced an offer to exchange up to $270 million in aggregate principal amount of its 8 percent Series B Senior Notes due 2011, which have been registered under the Securities Act of 1933, as amended, for its outstanding unregistered 8 percent Series A Senior Notes due 2011. The exchange offer will expire at 5 p.m. Eastern Daylight Time on Friday, July 30, 2004, unless Vought Aircraft Industries, Inc., in its sole discretion, decides to extend the exchange offer.

Vought Aircraft Industries, Inc. stated in its Form S-4 Registration Statement filed Feb. 5, 2004, as amended, that it entered into a registration rights agreement on July 2, 2003 with the initial purchasers of the unregistered Series A 8 percent Senior Notes due 2011 to file a registration statement under the Securities Act, providing for this exchange offer. The exchange notes will be issued without a restrictive legend and generally may be reoffered and resold without registration under the Securities Act.

The exchange agent for the exchange offer is Wells Fargo Bank, National Association, Corporate Trust Operations, Attention: Bondholder Communications, Sixth & Marquette, MAC N9303-121, Minneapolis, MN 55479. For information call (800) 344-5128.

About Vought:

Vought Aircraft Industries, Inc. (www.voughtaircraft.com) is one of the world's largest independent suppliers of aerostructures. Headquartered in Dallas, the company designs and manufactures major airframe structures such as wings, fuselage subassemblies, empennages, nacelles and other components for prime manufacturers of aircraft. Vought has annual sales of approximately $1.2 billion and more than 6,000 employees in seven U.S. locations.

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Contact:

Lynne M. Warne
(615) 974-6003
lwarne@triumphgroup.com