Pemco Aeroplex Delivers First P-3 Early

Pemco Aviation Group, Inc. (NASDAQ:PAGI) announced today
that the first U.S. Navy P-3 aircraft inducted under its teaming
agreement with L-3 Communications (NYSE: LLL) has been delivered to
the Navy 16 days early.
   The aircraft has been undergoing phased depot maintenance at the
Pemco Aeroplex facility located in Birmingham, Alabama as part of L-3
Communications Integrated Systems' contract on the Navy's Sustainment,
Modification and Installation Program.
   Glenn Hess, President of Pemco Aeroplex, Inc. stated, "We are very
pleased to be able to redeliver the aircraft to the Navy early. Our
priorities have always been quality, cost and schedule and I believe
we have successfully initiated the P-3 program with strength in all
three areas. Our teaming relationship with L-3 Integrated Systems has
been a very positive experience for us and we look forward to being
able to continue to provide L-3 and the Navy with this type of
performance."
   Pemco Aviation Group, Inc. (www.pemcoaviationgroup.com), with
executive offices in Birmingham, Alabama, and facilities in Alabama
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, support and engineering services
and develops and manufactures aircraft cargo systems, rocket vehicles
and control systems, and precision components.
   L-3 IS (www.l-3is.com) 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 multiple sites in Texas,
Mississippi, Georgia, Kentucky, Oklahoma, Virginia, Maryland, Alabama,
the United Kingdom and Australia.
   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: 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; material weaknesses in the Company's internal control over
financial reporting; regulatory changes that adversely affect the
Company's business; loss of key personnel; and other risks detailed
from time to time in the Company's SEC reports, including its Annual
Report on Form 10-K for the fiscal year ended December 31, 2005. 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.