Mr. Phillip Underwood reports

MAGELLAN AEROSPACE ANNOUNCES REPORT ON VOTING RESULTS FOR DIRECTORS

At the annual meeting of shareholders of Magellan Aerospace Corp., the proposed nominees for directors of the corporation received the votes in the attached table.

Name of proposed nominee    Votes for   Percentage of    Votes withheld      Percentage of
                                            votes for                       votes withheld

N. Murray Edwards          49,949,149          98.44%           793,603              1.56%
Phillip C. Underwood       50,251,185          99.03%           491,567              0.97%
Beth M. Budd Bandler       48,642,800          95.86%         2,099,952              4.14%
Larry G. Moeller           50,164,148          98.86%           578,604              1.14%
Steven Somerville          48,935,719          96.44%         1,807,033              3.56%
James P. Veitch            48,377,071          95.34%         2,365,681              4.66%

As a result, all of the above-named nominees have been elected to hold office for the ensuing year, or until their successors are duly elected or appointed, subject to the provisions of the Business Corporations Act (Ontario) and bylaws of the corporation.

About Magellan Aerospace Corp.

Magellan Aerospace is a global integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company the shares of which trade on the Toronto Stock Exchange, with operating units throughout North America, Europe and India.