WOOD DALE, ILLINOIS (September 24, 2003) - AAR ( NYSE: AIR ) announced that Mesa Air Group has selected AAR Aircraft Services - Oklahoma to perform airframe maintenance on its fleet of Canadian Regional Jet ("CRJ") series aircraft. Mesa Air Group currently operates in excess of 60 CRJ series aircraft, serving more than 150 cities and 40 states under the names America West Express, US Airways Express, United Express and Mesa Airlines. AAR will perform heavy maintenance functions, including C checks, calendar inspections, aging aircraft requirements, exterior and interior refurbishment, FAA-mandated modifications and Field Team requirements, should they be needed. Separately, AAR will perform overnight service checks, routine inspections and other line maintenance for CRJs that overnight in Oklahoma City.

"We are pleased and honored that Mesa Air Group has selected AAR to service its CRJ series aircraft," said Don Ward, AAR Aircraft Services - Oklahoma President and General Manager. "Our maintenance and service capabilities continue to grow, and as the approximately 2,400 regional jets currently in service throughout the world go through their maintenance cycles we expect our repair and maintenance capabilities to be an important part of our overall product offering. AAR's regional jet capabilities for airframe maintenance, replacement parts, component repair and landing gear has the Company well situated to support the emerging maintenance requirements of this fast growing fleet."

AAR Aircraft Services - Oklahoma, an operating division of AAR, 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, low-cost aircraft maintenance services since 1972.

AAR CORP. is the leading provider of aftermarket support 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

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, including those factors discussed under Item 7, entitled "Factors Which May Affect Future Results", included in the Company's May 31, 2003 Form 10-K. 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. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company's control. The Company assumes no obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. For additional information, see the comments included in AAR's filings with the Securities and Exchange Commission.