ExelTech Aerospace announces signing a general terms agreement with Colgan Air

MONTREAL, Nov. 21 /CNW Telbec/ - ExelTech Aerospace Inc. ("ExelTech Aerospace", "ExelTech" or the "Company"), (TSX-V: XLT.V), Canada's largest publicly-listed commercial aircraft maintenance, repair and overhaul organization, today announced that it has signed a general terms agreement with COLGAN AIR, Inc., a wholly-owned subsidiary of Pinnacle Airlines Corp.

ExelTech will perform heavy maintenance, including major structural inspections and modifications, on lease return aircraft needs into 2009. All of this work will be performed at the Company's Quebec City facility.

Louis Deveault, Director, Maintenance Operations of the Quebec City facility, discussed that this new work builds on a relationship established earlier in the year and solid Saab 340 HMV experience proven with regional's like NorthWest's Mesaba Airlines, and PenAir of Alaska.

According to Donald Kamenz, Vice President, Marketing and Sales, ExelTech Aerospace, "The Saab is a well designed aircraft with a well developed maintenance support organization. This work builds on our core abilities and allows us to offer our business partners quality service at fair pricing, with the benefit to ExelTech of servicing North America's largest operational Saab 340 customers. ExelTech becomes more efficient due to nose to tail production and thereby we offer Saab operators competitive services in attractive turn around times."

About Colgan Air

COLGAN AIR Inc., Launched in 1991 as a regional airline with headquarters located in Manassas, Virginia is now a wholly owned subsidiary of Pinnacle Airlines Corp., Colgan Air is a regional airline operating as Continental Connection, United Express and US Airways Express. The Colgan fleet includes 15 Dash 8-400 aircraft, 34 Saab 340 aircraft and four B1900D aircraft. Colgan has been recognized for exceptional service and is a leader in providing air service to small and medium-sized cities in the United States. Colgan has hub operations in Boston, Houston, New York, Washington D.C., and Newark Liberty International Airport. Colgan Air currently employs approximately 1,100 aviation professionals throughout the United States.

About ExelTech Aerospace

The third-largest commercial airframe Maintenance, Repair, and overhaul (MRO) vendor in Canada, ExelTech Aerospace is listed on the TSX Venture Exchange and trades under the symbol XLT. The company holds Transport Canada, US Federal Aviation Administration (FAA), European Aviation Safety Agency (EASA) and Bermuda Department of Civil Aviation (BDCA) approvals to maintain a range of aircraft and associated structures, components and systems. Aircraft models serviced by ExelTech Aerospace include Embraer ERJ 145 family and EJet 170/190 family, and Bombardier CRJ regional jets and ATR-42 and 72, Bombardier Dash-8 and Saab 340 regional turboprops and Boeing 737 narrow bodies.

In the summer of 2008, ExelTech opened a purpose-built 140,000 square feet state-of-the-art maintenance facility at Montreal's Pierre Elliott Trudeau International Airport where the EJet family will be serviced. It also converted a former heavy maintenance facility into a dedicated line maintenance facility servicing domestic and international customers for Montreal's Pierre Elliott Trudeau International Airport.

With 310,000 square feet of hangar, shop and office space in three facilities at Montreal and Quebec City, and with marketing offices in the US and Europe, ExelTech Aerospace provides maintenance repair and overhaul services to airlines in Canada, the US and 24 other countries around the world.

To learn more about ExelTech Aerospace Inc. (TSX-V: XLT.V), please visit our website at www.exeltech-aerospace.com.

The TSX Venture Exchange Inc. has not reviewed and does not accept

responsibility for the adequacy of this release.

Contacts

Donald Kamenz
Vice President
Marketing and Sales
ExelTech Aerospace
(514) 631-5114
dkamenz@exeltech-aerospace.com