Timco Aviation Services, Inc. Adds Leonard Singer to Its Board Of Directors GREENSBORO, N.C., Oct. 20 /PRNewswire-FirstCall/ -- TIMCO Aviation Services, Inc. (OTC:TMAS) (BULLETIN BOARD: TMAS) today announced the appointment of Leonard Singer to its Board of Directors. Mr. Singer, age 57, is one of the principal owners of Choir Capital Ltd, a firm that advises multinational financiers and investors throughout the world on corporate and structured finance transactions primarily in the aviation finance sector. Prior to establishing Choir Capital in 1996, Mr. Singer was a managing director with Citigroup where over a 20-year period he was involved in many areas of domestic, international and cross border financing, including a three-year period in which he managed Citigroup's aviation business. Roy T. Rimmer, Jr., Chairman and Chief Executive Officer of TIMCO, commented: "We are excited to have Leonard join our Board of Directors. We believe that his broad experience in many facets of the aviation industry will be an asset to our Board and our management as we continue to focus on improving the products and services that we offer to our customers." Mr. Singer stated: "I am pleased to become a member of TIMCO's Board of Directors. TIMCO is a market leader in airframe heavy maintenance market and is poised to significantly expand its engine, interiors and line maintenance operations. This is a very exciting time for TIMCO, and a period of dynamic change for many of its customers and for the outsourced MR&O industry generally. I look forward to working with TIMCO's Board of Directors and management and to helping TIMCO meet the current and future needs of its customers." TIMCO Aviation Services, Inc. is among the world's largest providers of fully integrated aviation maintenance, repair and overhaul (MR&O) services for major commercial airlines, regional air carriers, aircraft leasing companies, government and military units and air cargo carriers. The Company currently operates four MR&O businesses: TIMCO, which, with its four active locations (Greensboro, NC, Macon, GA, Lake City, FL and Goodyear, AZ), is one of the largest independent providers of heavy aircraft maintenance services in the world; Aircraft Interior Design and Brice Manufacturing, which specialize in the refurbishment of aircraft interior components and the manufacture and sale of aftermarket parts and new aircraft seats; TIMCO Engineered Systems, which provides engineering services both to our other MR&O operations and to our customers; and TIMCO Engine Center, which refurbishes JT8D engines and performs on-wing repairs for both JT8D and CFM-56 series engines. Visit TIMCO online at http://www.timco.aero/ . This press release contains certain forward-looking statements. Forward- looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. A number of factors, including those identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2003, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2004, and those identified below, could adversely affect the Company's ability to obtain these results: the Company's ability to continue to generate sufficient working capital from operations to meet its operating requirements and service its indebtedness, the Company maintaining good working relationships with its vendors and customers, competitive pricing for the Company's products and services, the Company's ability to achieve gross margins at which it can be profitable, including margins on services the Company performs on a fixed price basis, competition in the aircraft maintenance, repair and overhaul market, the Company's ability to attract and retain qualified personnel in its business, utilization rates for the Company's MR&O facilities, the Company's ability to integrate future acquisitions, the Company's ability to effectively manage its business, economic factors which affect the airline industry generally and thereby affect our business (since our customer base consists primarily of airlines and freight carriers), including the amount of aircraft maintenance being outsourced, the price of jet fuel and the ongoing war on terrorism, and changes in government regulations. Copies of the Company's filings with the U.S. Securities and Exchange Commission are available from the SEC or may be obtained upon request from the Company. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date. DATASOURCE: TIMCO Aviation Services, Inc. CONTACT: Roy T. Rimmer, Jr., Chairman & Chief Executive Officer, or Gil West, President and Chief Operating Officer of TIMCO Aviation Services, Inc., +1-336-668-4410 Web site: http://www.timco.aero/

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