ExelTech Aerospace announces appointment of new Chief Financial Officer

MONTREAL, Nov. 25 /CNW Telbec/ - ExelTech Aerospace Inc. ("ExelTech Aerospace" or the "Company") (TSX-V: XLT.V), a leading aircraft maintenance, repair and overhaul (MRO) provider with operations in Montreal and Quebec City, announced today the appointment of Gérard Moretti as Chief Financial Officer, subject to required regulatory approvals. Mr. Moretti became Director of Finance at ExelTech Aerospace in early June 2006 and was acting as Interim Chief Financial Officer since September 2008.

Mr. Moretti is a Chartered Accountant with over 25 years experience. He was employed by a major accounting firm for four years and then ran his own firm successfully for eight years. Mr. Moretti has been Controller for emerging companies and, between 2004 and 2006, has worked on projects relating to Sarbanes-Oxley rules for major Canadian companies.

"After considering a number of external candidates, we have determined that Gérard was our optimal choice", says Sylvain Duval, President and Chief Operating Officer. "His understanding of our business, his vast experience in the finance arena and his prior unconditional commitment to ExelTech made him an obvious choice".

As part of his compensation package, Mr. Moretti has been granted options to purchase 100,000 common shares of the Company pursuant to the terms of the Company's Stock Option Plan at an exercise price per share equal to the closing price of the Company's shares on the second business day following the release of the Company's financial results, subject to a minimum exercise price of $0.10 per share. The options have a term of 10 years and shall vest in equal installments on each of the three anniversary dates following the date of grant.

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 Bombardier CRJ and Embraer ERJ regional jets, ATR42/72, Bombardier Dash 8 and Saab 340 family regional turboprops and Boeing 737 narrow bodies.

With close to 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

Sylvain Duval
President & Chief Operating Officer
(514) 631-8999 ext. 2275
sduval@exeltech-aerospace.com