TIMCO Aviation Services, Inc. Secures Additional Financing

TIMCO Aviation Services, Inc. Secures Additional Financing 


GREENSBORO, N.C., April 14  /PRNewswire-FirstCall/ -- TIMCO Aviation Services,
Inc. (OTC:TMAS) (BULLETIN BOARD: TMAS)  today announced that it has secured
additional financing from Monroe Capital, LLC. As part of the new financing,
Monroe Capital acquired the $8 million term loan previously made to the Company
by Hilco Capital LP. Monroe Capital also provided the Company with a new $7
million term loan, the proceeds of which will be used for working capital, and
a $3 million capital expenditures line of credit. Borrowings under the original
Hilco $8 million term loan (assigned to Monroe Capital as part of the new
financing) and the new Monroe Capital $7 million term loan are due on December
31, 2007. Borrowings under the $3 million capital expenditures line of credit
are due in monthly installments, commencing in May 2006, with the balance due
on December 31, 2007.

Roy T. Rimmer Jr., the Company's Chairman and Chief Executive Officer, stated:
"We are extremely pleased to be working with the Monroe Capital team. This
financing provides us with significant additional capital to help fund the
continued growth and development of our business."

TIMCO Aviation Services, Inc. is among the world's largest providers of
aviation maintenance, repair and overhaul (MR&O) services for major commercial
airlines, regional air carriers, aircraft leasing companies, government and
military units and air cargo carriers.  The Company currently operates four
MR&O businesses: Triad International Maintenance Corporation (known as TIMCO),
which, with its four active locations (Greensboro, NC; Macon, GA; Lake City, FL
and Goodyear, AZ), is one of the largest independent providers of heavy
aircraft maintenance services in the world and also provides aircraft storage
and line maintenance services; Brice Manufacturing and Aircraft Interior
Design, which specialize in the manufacture and sale of new aircraft seats and
aftermarket parts and in the refurbishment of aircraft interior components;
TIMCO Engineered Systems, which provides engineering services both to our MR&O
operations and our customers; and TIMCO Engine Center, which refurbishes JT8D
engines and performs on-wing repairs for both JT8D and CFM-56 series engines.
Visit TIMCO online at http://www.timco.aero/ .

This press release contains forward-looking statements. Forward-looking
statements involve known and unknown risks and uncertainties, which may cause
the Company's actual results in future periods to differ materially from
forecasted results. A number of factors, including those identified in the
Company's Annual Report on Form 10-K for the year ended December 31, 2004,
could adversely affect the Company's ability to obtain these results. Copies of
the Company's filings with the U.S. Securities and Exchange Commission are
available from the SEC or may be obtained upon request from the Company. The
Company does not undertake any obligation to update the information contained
herein, which speaks only as of this date. 

DATASOURCE: TIMCO Aviation Services, Inc.



CONTACT:  Roy T. Rimmer, Jr., Chairman & Chief Executive Officer; or

Fritz Baumgartner, Vice President Finance, Chief Accounting Officer; or Kevin

Carter, Vice President Treasurer, Financial Planning & Analysis of TIMCO

Aviation Services, Inc., [phone]



Web site:  http://www.timco.aero/ 

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