Canadian Aerospace Group International Inc. provides Shareholder Update

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Company plans meeting of shareholders prior to year end.

Canadian Aerospace Group International Inc. (CAGI) would like to report that it is in the process of reorganizing itself. CAGI's intention is to make the necessary SEC disclosures and filings in the near term. It is the intention of Management to discuss these objectives at the next meeting of shareholders prior to calendar year end.

About Canadian Aerospace Group International Inc. (CAGI). CAGI is a United States Corporation with its head office in Toronto, Ontario, Canada. CAGI was established in 1996 to manufacture, assemble, and develop specific military, commercial and civil aviation aircraft using state of the art technology.

For additional information on CAGI, please contact Joseph Rotolo, Chairman at Tel: 416-857-8976.

This news release does not constitute any offer of any securities for sale.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We have tried, whenever possible, to identify these forward-looking statements using words such as ``anticipates,'' ``believes,'' ``estimates,'' ``expects,'' ``plans,'' ``intends,'' ``potential'' and similar expressions. These statements reflect our current belief and are based upon currently available information. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. We undertake no obligation to update or advise in the event of any change, addition or alteration.

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Joseph Rotolo
CANADIAN AEROSPACE GROUP INTERNATIONAL
416-857-8976
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