ATRO Astronics Corporation

EAST AURORA, N.Y., Oct. 17 /PRNewswire-FirstCall/ -- Astronics Corporation (NASDAQ:ATRO), a leader in advanced, high performance lighting, electrical power generation, control and distribution systems for the global aerospace industry, announced that it recently signed an agreement with Piaggio Aero Industries. Astronics will supply a complete suite of integrated cockpit panel assemblies and lighting controllers for the Piaggio P180 Avanti II through 2008. Peter J. Gundermann, President and CEO of Astronics Corporation, commented, "We worked closely with Piaggio to integrate our high performance systems into the new cockpit layout of the Avanti II. We were able to effectively integrate our advanced functionality into the updated avionics systems of the aircraft while preserving the pilot functionality of the legacy cockpit design. Our engineering experience and capabilities contributed to our success in winning this complex project." The P180 Avanti II is the world's fastest turboprop business aircraft. It combines the speed of a light jet with a more comfortable nine passenger cabin and has greater fuel efficiency than any other business aircraft available on the market today. The first Avanti II was delivered in December 2005 to a Swiss customer. It received U.S. FAA certification in March 2006. Piaggio expects to deliver 20 aircraft in 2006, 30 in 2007 and approximately 40 aircraft in 2008. ABOUT PIAGGIO AERO INDUSTRIES Piaggio Aero Industries is the only company in the world to be active in the areas of aircraft, aero-engines and aerostructures manufacturing. Piaggio Aero designs, develops, constructs and maintains aircraft, engines and aircraft structural components. Technology and commitment in research and development, along with innovative design solutions, are the drivers for Piaggio Aero Industries' current and planned future programs. The core product for Piaggio Aero Industries is the P180 Avanti II twin turboprop pusher business/utility aircraft. For more information on Piaggio Aero Industries, visit its website at http://www.piaggioaero.com/. ABOUT ASTRONICS CORPORATION Astronics Corporation is a leader in advanced, high-performance lighting, electrical power generation, control and distribution systems for the global aerospace industry. Its strategy is to expand the value and content it provides to various aircraft platforms through product development and acquisition. Astronics Corporation, and its wholly-owned subsidiaries Astronics Advanced Electronic Systems Corp. and Luminescent Systems Inc., have a reputation for high quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. For more information on Astronics and its products, visit its website at http://www.astronics.com/. Safe Harbor Statement This press release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words "expect," "anticipate," "plan," "may," "will," "estimate" or other similar expression. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially include the Company's ability to successfully execute the contract, that the production contracts will be awarded to Astronics, that the night vision conversion technology is transferable to other aircraft platforms and the state of the aerospace industry, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this press release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise. DATASOURCE: Astronics Corporation CONTACT: David C. Burney, Chief Financial Officer, +1-716-805-1599, ext. 159, Fax: +1-716-805-1286, Web site: http://www.astronics.com/ http://www.piaggioaero.com/

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