API to Consolidate Warehouse Operations

MEMPHIS, Tenn., October 12, 2006 - Aerospace Products International, Inc. ("API"), a wholly-owned subsidiary of First Aviation Services Inc. (Nasdaq: FAVS) and a leading provider of innovative distribution and supply chain services for the aviation industry, announced this week that it will open a technically advanced 172,000-square-foot facility in Southaven, Mississippi, 2.5 miles from the Memphis International Airport and the FedEx Express hub. API will consolidate four of its warehouse facilities into a recently completed distribution center developed by Industrial Developments International, Inc. (IDI) in early 2007. The lease between IDI and API has a 10-year term with various expansion options.

The Company believes that the modern facility coupled with recent significant investments in SAP and state of the art telephony technology enable API to continue to provide its customers the highest levels of service and support. Michael Culver, President and CEO of FAVS stated that "This is a significant milestone in the development of API. We have been analyzing various facility scenarios over the last three years and believe this is an excellent solution for our distribution and logistic customers."

API's corporate offices will remain at 3778 Distriplex Drive North in Memphis, Tennessee, a short distance from the new facility.

API offers worldwide customer service 24 hours per day, 7 days per week, 365 days per year (+1.888.API.24x7 or +1.901.365.3470 extension 2171) through strategically located distribution centers in the USA, Canada, China, Philippines and Europe.

About Aerospace Products International

Aerospace Products International, Inc., headquartered in Memphis, Tenn., is a leading provider of innovative distribution and supply chain services for the aviation industry. API distributes aircraft parts and related products and components to manufacturers, maintenance providers, and operators of some of the most widely used commercial and general aviation aircraft. In addition to its product supply services, API offers the aviation industry extensive supply chain management and third-party logistics services and solutions, including forecasting and procurement services, inventory management, rotables management, and product sales. API also offers overhaul and repair services for brakes and starters/generators, and builds custom hose assemblies. Its parent company, First Aviation Services Inc., (NASDAQ: FAVS) is a worldwide leader in providing services to operators of some of the most widely used military, commercial and general aviation aircraft. More information is available at www.apiworldwide.com and www.firstaviation.com.