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Press release

June 14, 1999

Slapke Selected as Executive Vice President at AAR

WOOD DALE, Ill., /PRNewswire/ -- AAR CORP. (NYSE: AIR) announced today that Philip C. Slapke has been promoted to Executive Vice President of the Company. Slapke will assume responsibility for all of AAR's trading and service businesses, which will enhance AAR's ability to provide customers with a more complete inventory management, supply and repair product. Slapke joined the Company in 1981 and has held positions of progressive responsibility. Most recently, he was responsible for the Aircraft and Engine businesses.

David P. Storch, President and Chief Executive Officer of AAR CORP., commented on the promotion, "AAR needs strong, innovative leaders as the Company continues in the forefront of the aviation services industry. Phil has demonstrated these qualities having led our Engine business to ten years of successive growth. This promotion broadens the scope of his leadership to include all of AAR's trading and service businesses. This action is consistent with our goal to provide our customers with a one-stop shop for their inventory management, supply and overhaul needs."

In a related move, J. Steven McConnell was promoted to President of Aviation Asset Management and Trading which encompasses AAR's engine, engine parts and airframe parts trading business. At the same time, James Vincent was promoted to President of AAR Aircraft Turbine Center and James J. Clark was promoted to President of Component Repair and Service. Each of these individuals has led key AAR business units and collectively have over 48 years of experience with AAR.

AAR CORP. (NYSE: AIR) 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.

SOURCE AAR CORP.

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