Vector Announces $45 Million Equity Financing

September 29, 2009 – Vector Aerospace Corporation is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc. and Dundee Securities Corporation, and including CIBC, Scotia Capital Inc. and Versant Partners Inc. (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase from Vector and sell to the public an aggregate of 7,100,000 common shares (the “Shares”) at a price of $6.35 per Share for gross proceeds of approximately $45 million (the “Offering”). Vector has also granted the Underwriters a 15% over-allotment option to purchase up to an additional 1,065,000 Shares, exercisable in whole or in part for a period of 30 days from closing of the Offering to cover over-allotments.

Vector intends to use the net proceeds of the Offering for the repayment of debt and for general corporate purposes.

Closing of the Offering is expected to occur on or about October 20, 2009. The Offering is subject to normal regulatory approvals, including approval of the TSX.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.