WOOD DALE, ILLINOIS (September 15, 2004) - AAR (NYSE: AIR) today announced that it will release financial results for its first quarter of Fiscal Year 2005 ended August 31, 2004 before the market opens on Wednesday, September 22, 2004.

At 10:30 a.m. CDT, AAR will hold a conference call to discuss the results. The conference call can be accessed via dial-in (1-877-872-1405; conference code 8527282). A replay of the call will be available (1-800-642-1687; conference code 8527282) from approximately 1:00 p.m. CDT on September 22 until 11:59 p.m. CDT on Wednesday, September 29, 2004.

AAR is a leading provider of products and value-added services to the worldwide aviation/aerospace industry. Products and services include customized inventory management and logistics programs; maintenance, repair and overhaul of aircraft, aircraft components and engine components; engine and aircraft sales and leasing; and the manufacture of cargo systems, composite structures and mobility systems. Headquartered in Wood Dale, Illinois, AAR serves commercial and government aircraft fleet operators, original equipment manufacturers and independent service customers throughout the world. Further information can be found at www.aarcorp.com.