• Income from continuing operations for fourth quarter fiscal 2008 increased 37% to $21.3 million, or $1.26 per diluted share. Sales increased 24% to a record $321.2 million
• Net sales for fiscal year 2008 increased 23% to $1.151 billion
• Operating income for fourth quarter fiscal 2008 increased 34% to $35.5 million and for fiscal year 2008 increased 35% to $126.3 million, both reflecting significant improvement in operating margin
• Backlog improved 13% over prior year to a record $1.3 billion
• Income from continuing operations for fiscal year 2008 increased 49% to $75.7 million, or $4.32 per diluted share
• Net income for fiscal year 2008 increased 43% to $67.3 million

Triumph Group, Inc. (NYSE:TGI) today reported that, for the fiscal year ended March 31, 2008, net sales totaled $1.151 billion, a twenty-three percent increase from fiscal year 2007 net sales of $937.3 million. Income from continuing operations for fiscal year 2008 increased forty-nine percent to $75.7 million, or $4.32 per diluted share, versus $51.0 million, or $3.11 per diluted share, for fiscal year 2007. Net income for fiscal year 2008 increased forty-three percent to $67.3 million, or $3.84 per diluted share, versus $47.1 million, or $2.87 per diluted share, for fiscal year 2007. The number of shares used in computing diluted earnings per share for fiscal year 2008 increased to 17.5 million shares. During this fiscal year, the company generated $51.1 million of cash flow from operations.

For the fourth quarter ended March 31, 2008, net sales were $321.2 million, a twenty-four percent increase from last fiscal year’s fourth quarter net sales of $259.8 million. Income from continuing operations for the fourth quarter of fiscal year 2008 increased thirty-seven percent to $21.3 million, or $1.26 per diluted share, versus $15.5 million, or $0.93 per diluted share, for the fourth quarter of the prior fiscal year. Net income for the fourth quarter of fiscal year 2008 increased thirty-six percent to $19.4 million, or $1.15 per diluted share, versus $14.2 million, or $0.86 per diluted share, for the fourth quarter of the prior fiscal year. The number of shares used in computing diluted earnings per share for the fourth quarter of fiscal 2008 was 16.9 million shares. During the quarter, the company generated $25.0 million of cash flow from operations.

The Aerospace Systems segment reported net sales for fiscal year 2008 of $907.4 million, compared to $743.7 million for the prior fiscal year, an increase of twenty-two percent. Organic sales growth for fiscal year 2008 was twenty-one percent. For the fourth quarter of fiscal year 2008, net sales increased twenty-five percent to $256.6 million from $204.8 million for the prior fiscal year period. Excluding the recently announced acquisition of Triumph Structures-Long Island (formerly, B. & R. Machine and Tool Corp.), organic sales growth for the quarter was twenty-three percent. Operating income for fiscal year 2008 was $124.8 million, compared to $101.9 million for the prior fiscal year, an increase of twenty-three percent. For the fourth quarter, operating income increased twenty-four percent to $37.3 million versus $30.1 million for the prior fiscal year quarter. Operating income for fiscal year 2008 included $10.8 million of legal expenses associated with the previously disclosed trade secret litigation versus $4.9 million of legal expenses included in the operating income for fiscal year 2007.

The Aftermarket Services segment reported net sales for fiscal year 2008 of $246.6 million, compared to $196.5 million for the prior fiscal year, an increase of twenty-six percent. For the fourth quarter of fiscal year 2008, net sales increased eighteen percent to $65.5 million from $55.6 million for the prior fiscal year period. Operating income for fiscal year 2008 was $23.5 million, compared to $11.4 million for the prior fiscal year, an increase of 106 percent. For the quarter, operating income increased 117 percent to $6.4 million versus $3.0 million for the prior fiscal year quarter. Operating margins for fiscal year 2008 improved significantly to 9.5 percent from 5.8 percent in the prior fiscal year. Organic sales growth for fiscal year 2008 was thirteen percent.

Richard C. Ill, Triumph’s President and Chief Executive Officer, said, “We are pleased to report both a record quarter and a record year for Triumph, with each of our business segments contributing to our outstanding results. For the quarter, we achieved record sales, strong segment operating margins and significant cash flow from operating activities. For the year, the fundamental driver behind our excellent results was strong organic revenue growth combined with improved execution. Backlog increased by $151.0 million to a record level of $1.3 billion. We are confident that the strength of our markets, our robust backlog and our healthy financial position will provide us with strong momentum heading into fiscal 2009 and beyond.”

In commenting on the outlook for fiscal year 2009, Mr. Ill said, “Based on the robust fundamentals of our industry, our strong backlog and continuing improvement in our execution, we project sales in the range of $1.25 billion to $1.35 billion and earnings per share for the fiscal year of $4.85 to $5.05, computed on 18.0 million shares.”

As previously announced, Triumph Group will hold a conference call tomorrow at 8:30 a.m. (ET) to discuss the fiscal year 2008 fourth quarter and year-end results. The conference call will be available live and archived on the company’s website at http://www.triumphgroup.com. A slide presentation will be included with the audio portion of the webcast. An audio replay will be available from May 2^nd until May 9^th by calling (888) 266-2081 (Domestic) or (703) 925-2533 (International), passcode #1227454.

Triumph Group, Inc., headquartered in Wayne, Pennsylvania, designs, engineers, manufactures, repairs and overhauls aircraft components and accessories. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.

More information about Triumph can be found on the Internet at http://www.triumphgroup.com.

Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including expectations of future aerospace market conditions, financial and operational performance, revenue and earnings growth and sales and earnings results for fiscal 2009. All forward-looking statements involve risks and uncertainties which could affect the company’s actual results and could cause its actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph’s reports filed with the SEC, including our Annual Report on Form 10-K for the year ended March 31, 2007.