AAI Receives 2007 Award for Technology Innovation from Frost & Sullivan for Developing Industry-leading Unmanned Aircraft Systems

            HUNT VALLEY, Maryland, May 2, 2007 — Frost & Sullivan has recognized AAI Corporation, a subsidiary of United Industrial Corporation (NYSE: UIC), with its 2007 Award for Technology Innovation for development of industry-leading unmanned aircraft systems and technologies.

            Each year, Frost & Sullivan, a global growth consulting company, presents Best Practices Awards to companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance.

            The Award for Technology Innovation is presented to a company that has demonstrated technological superiority within its industry. It recognizes the ability of the company to successfully develop and introduce new technology, formulate a well-designed product family, and make significant product performance contributions to the industry.

            “This award reflects AAI’s continued investment in designing and developing innovative unmanned aircraft systems and intelligence-gathering technologies that support the men and women of our military services,” said Steven E. Reid, vice president of AAI’s Unmanned Aircraft Systems. “We are honored to receive this recognition.”

            AAI has been a global leader in tactical unmanned aircraft systems and related surveillance, reconnaissance, and intelligence-gathering technologies over the past three decades.

            The company was selected for the 2007 Unmanned Aircraft System Award for Technology Innovation for its design, development, and production of the Shadow® family of unmanned aircraft systems, led by the Shadow 200 Tactical Unmanned Aircraft System, a vital battlefield asset in service with the U.S. Army in Iraq and Afghanistan.

            In addition, the award recognizes the design and development by AAI of the U.S. Army’s One System® Ground Control Station, a core element in the service’s network centric system that enables the interoperability of multiple unmanned aircraft systems across a battlefield.        

            “The wars in Iraq and Afghanistan continually demonstrate that troops on the ground need the most timely and accurate information available,” noted Frost & Sullivan Analyst Lindsay Voss in assessing the award to AAI.  “Through the advancement of the tactical Shadow family of unmanned systems and the One System Ground Control Station, AAI Corporation is playing a vital role in providing today’s warfighters with the intelligence they need,” she added.

            AAI’s high-technology products and services for aerospace and defense include unmanned aircraft systems, training and simulation systems, automated test and maintenance equipment, armament systems, aviation ground support equipment, logistical and engineering services, and maintenance, repair, and overhaul. Company subsidiaries include AAI Services Corporation, Aerosonde Pty Ltd., Aerosonde North America Incorporated, ESL Defence Limited, McTurbine Inc., and Symtx, Inc.

            For more information, visit www.aaicorp.com.

            Frost & Sullivan has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.

            AAI’s high-technology products and services for aerospace and defense include unmanned aircraft systems, training and simulation systems, automated test and maintenance equipment, armament systems, aviation ground support equipment, logistical and engineering services, and maintenance, repair, and overhaul.  Company subsidiaries include AAI Services Corporation, Aerosonde Pty Ltd., ESL Defence Limited, McTurbine Inc., and Symtx, Inc.

            Except for the historical information contained herein, information set forth in this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and variations of such words and similar expressions that indicate future events and trends are intended to identify such forward-looking statements, which include, but are not limited to, projections of revenues, earnings, segment performance, cash flows, and contract awards. These forward-looking statements are subject to risks and uncertainties, which could cause the company’s actual results or performance to differ materially from those expressed or implied in such statements. The company makes no commitment to update any forward-looking statement or to disclose any facts, events, or circumstances after the date hereof that may affect the accuracy of any forward-looking statement. For additional information about the company and its various risk factors, please see the company’s most recent annual report on Form 10-K and other documents as filed with the Securities and Exchange Commission.   

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