WOOD DALE, ILLINOIS (May 7, 2003) - AAR (NYSE: AIR) announced today that the Company's Clearwater, Florida manufacturing unit, AAR Composites, received AS9100:2001, Section 1 and ISO 9001:2000 certification by the prestigious accreditation firm, Det Norske Veritas (DNV).

AS9100 is the Aerospace Model for Quality Assurance in Design, Development, Production, Installation and Servicing. AS9100 was developed using the ISO 9001, AS9000, and EN9000-1, and builds upon their requirements to produce a globally-harmonized standard that meets the requirements of aerospace companies worldwide. The first standard available for use across the global aerospace community, AS9100 adds the additional requirements necessary to address both civil and military aviation and aerospace needs. Most aerospace OEMs are demanding that all composite suppliers attain AS9100 by 2004.

"This certification solidifies our standing as a world-class supplier to the aerospace community," said David Humphries, General Manager for AAR Composites. "I am very proud that we are ahead of the game."

AAR Composites, a division of AAR, specializes in the design, development and manufacturing of advanced composite structures. AAR is the leading provider of aftermarket support to the worldwide aviation/aerospace industry. Products and services include customized inventory management and logistics programs, encompassing supply, repair and manufacturing of spare parts and systems. Headquartered in Wood Dale, Illinois, AAR serves commercial and government aircraft fleet operators and independent service customers throughout the world. Further information can be found at www.aarcorp.com

This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, depending on a variety of factors, including: implementation of information technology systems, integration of acquisitions, marketplace competition, economic and aviation/aerospace market stability and Company profitability. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described.