AAR CORP. Files Replacement Shelf Registration - December 2008

WOOD DALE, Ill., /PRNewswire-FirstCall/ -- AAR Corp. (NYSE: AIR) announced that it has filed a "shelf" registration statement with the Securities and Exchange Commission. This replaces the Company's previously filed shelf registration statement, which expired on November 30, 2008 and includes the registration for the sale of up to $300 million of common stock, preferred stock or debt securities. The terms of any future offering pursuant to the registration statement would be established at the time of the offering.

AAR is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve airline and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems and Aircraft Sales and Leasing. More information can be found at www.aarcorp.com.

This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 1A, entitled "Risk Factors", included in the Company's May 31, 2008 Form 10-K. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company's control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. For additional information, see the comments included in AAR's filings with the Securities and Exchange Commission.

CONTACT:
Richard J. Poulton, Vice President, Chief Financial Officer of AAR Corp.
+1-630-227-2075
rpoulton@aarcorp.com