WOOD DALE, ILLINOIS, March 2, 2001 - AAR Aircraft Services-Oklahoma announced today that it was recently awarded propeller repair and overhaul contracts from Dyncorp and Lear Siegler. Both contracts call for global repair and overhaul support of over 400 propellers installed on U.S. Army C-12 and U.S. Navy C-26 aircraft. Contract terms, including options, are ten and five years, respectively.

"We are very pleased to have been awarded this contract," said Don Ward, AAR Aircraft Services - Oklahoma President and General Manager. "There were as many as four providers supporting these contracts previously. Now AAR is the sole provider on both contracts."

AAR Aircraft Services - Oklahoma, a subsidiary of AAR (NYSE: AIR), is based in Oklahoma City and performs all levels of maintenance and modifications on aircraft for commercial and regional airlines, cargo carriers, leasing agencies and the U.S. government and military. AAR Aircraft Services - Oklahoma has been providing quality, cost efficient aircraft maintenance services since 1972.

AAR is the preeminent provider of products and value-added services to the worldwide aerospace/aviation industry. Products and services include proprietary inventory management and logistic support services, encompassing supply, repair and manufacture 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