Magellan Aerospace (UK) Limited is Selected to Manufacture Pylon Secondary Support Structure on A350 XWB Program

TORONTO, July 7, 2010 - Magellan Aerospace Corporation announced today that an agreement has been
reached between Airbus and Magellan Aerospace (UK) Limited securing a further
major work package on Airbus' new A350 XWB. It is expected to generate
revenues in excess of $60 million over the next ten years.

The package consists of a number of complex machined aluminium detail
components and assemblies that form the structure of the Pylon body. In
selecting Magellan, Airbus reconfirms its continued confidence in Magellan's
advanced capabilities.

Jim Butyniec, Magellan's President and CEO, discussed the importance of
participation on the A350 XWB program and Magellan's continued drive to
secure major work packages on Airbus' and Boeing's future aircraft. He
commented, "This package, together with Magellan's existing A350 work on the
Centre Wing Box for Airbus France, consolidates Magellan's position on this
exciting new program."

Initial production will utilise existing capacity at Magellan's
facilities in the UK at Bournemouth and Wrexham, with substantial investment
in new high technology equipment to be phased in as the production rate
increases from 2012. These future investments demonstrate Magellan
Corporation's commitment to developing world class manufacturing facilities
focussed on core competencies.

Magellan Aerospace (UK) Limited is a wholly owned subsidiary of Magellan
Aerospace Corporation. Magellan Aerospace Corporation is one of the world's
most integrated and comprehensive aerospace industry suppliers. Magellan
designs, engineers, and manufactures aeroengine and aerostructure assemblies
and components for aerospace markets, advanced products for military and
space markets, and complementary specialty products. Magellan is a public
company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with
operating units throughout Canada, the United States, the United Kingdom and
India.

Forward Looking Statements:

This press release contains information and statements of a
forward-looking nature and is based on assumptions and uncertainties as well
as on management's reasonable evaluation of future events. These statements
are not guarantees of future performance and involve risks and uncertainties
that are difficult to predict, and/or are beyond the Corporation's control. A
number of important factors could cause actual outcomes and results to differ
materially from those expressed in these forward-looking statements.

For further information: John Dekker, Vice President Finance, Magellan
Aerospace Corporation, T: +1-905-677-1889, Ext 224, E:
john.dekker@magellan.aero

For further information: John Dekker, Vice President Finance, Magellan Aerospace Corporation, T: +1-905-677-1889, Ext 224, E: john.dekker at magellan.aero