Avcorp confirms CJ4 Cessna agreement

Avcorp Industries Inc. [TSX. "AVP"] is pleased to announce that it has signed an agreement with Cessna Aircraft Company to supply the tail assembly for Cessna's new Citation CJ4 business jet. The agreement includes detail tooling fabrication along with manufacture, assembly, product support and spares for the Citation CJ4. The contract is expected to generate approximately US $110 million in revenue over the first ten years of the life of the aircraft. First flight of the Citation CJ4 occurred on May 5, 2008 with first Avcorp deliveries set for the first quarter of 2009. Avcorp has worked with Cessna on this program over the past year and a half and will eventually invest approximately $2.5 million in the manufacturing, engineering and start up.

The Citation CJ4 business jet is an upward extension of the CJ family delivering the strongest performance and payload balance in the series along with advanced amenities and system architecture. The aircraft is expected to have a maximum speed of 435 knots, a full fuel payload of 1,000 pounds and maximum payload of 2,100 pounds. The popular Citation CJ line of business jets (CJ1+, CJ2+ and CJ3), have amassed sales of more than 900 airplanes with over 1.3 million hours flown.