Tibbett & Britten Group member company, Evergreen Logistics, Implements PosiCharge®

January 22, 2004

TORONTO, Ontario and MONROVIA, Calif. Tibbett & Britten Group, one of the world's leading third-party logistics companies, today announced that its member company, Evergreen Logistics, has implemented a 15-port PosiCharge® system for its facility in Conway, Ark. The PosiCharge productivity-enhancing system eliminates the need for a battery changing room at the distribution center.

The new PosiCharge system provides energy to 15 Hyster 48-volt sit-down forklifts within the 665,000-square-foot facility, which runs various four-day, five-day and weekend shifts, operating seven days a week, 52 weeks a year.

"As a trusted third-party logistics provider, we are always looking for opportunities to offer our employees the healthiest environment and our clients the highest level of efficiency possible," said Steffen Herrnsdorf, director, operations development for Tibbett & Britten Group Americas. "After learning more about PosiCharge's innovative and proven productivity, cost saving, and safety benefits, it became clear that PosiCharge is an excellent solution for this operation."

PosiCharge allows forklift operators to quickly charge batteries during breaks, lunches, shift changes, and shut down - without compromising productivity. Battery changing, in contrast, compromises productivity by taking forklift operators out of the productive cycle and requiring them to drive to a battery changing area, wait for a battery change, or change the battery in their truck and then return to work - costing productive time and extra hardware. PosiCharge charges batteries in the truck so that battery handling is virtually eliminated.

"By selecting PosiCharge's parallel charging technology, Evergreen Logistics has made a progressive choice for the efficiency of its operation," said Pat Dellario, general manager, PosiCharge. "PosiCharge's intelligent systems and demonstrated reliability are an excellent match for Tibbett & Britten Group's intelligent and forward-thinking approach to logistics."

Three different PosiCharge products are being used at Evergreen Logistics, including the Multi-Vehicle System (MVS), the Dual-Vehicle System (DVS), and a single-port ELT charger.

About Tibbett & Britten Group 

Tibbett & Britten Group plc is one of the world's leading logistics companies, employing 38,500 people in 34 countries on five continents. Group revenues in 2002 amounted to $1.5 billion (US $2.4 billion). Wholly owned subsidiary Tibbett & Britten Group Americas is the largest specialist distribution business in Canada and Mexico, and one of the biggest in the United States - where it operates from coast to coast. More information can be found at www.tibbett-britten.com.

About PosiCharge 

PosiCharge is the faster, safer, smarter charger that eliminates the battery room and all the problems that go with it - including run time issues, reduced battery capacity, infrastructure cost, lost productivity, worker injury, and excess battery inventories. PosiCharge fast charges each battery in the vehicle during short breaks, lunches, and shift changes, so the battery never leaves the vehicle. The result is instant productivity improvements, and no workflow interruptions for battery changing. With a proprietary system that safeguards batteries by measuring temperature and customizing each charge, PosiCharge can actually extend the useful life of a battery. For years, PosiCharge has been keeping fleets running in some of the hardest-working Fortune and Global 500 plants and distribution centers in the country. PosiCharge is a division of AeroVironment, Inc.

For more information, please contact:

PosiCharge Lisa Horiuchi Heiberg Director of Marketing & Venture Development 626-357-9983, ex. 563 .(JavaScript must be enabled to view this email address)

Tibbett & Britten Group Americas Sharon Nease Director, Marketing and Communications 416-674-1600 .(JavaScript must be enabled to view this email address)

About AeroVironment, Inc. (AV)

AeroVironment (NASDAQ: AVAV) provides customers with more actionable intelligence so they can proceed with certainty. Based in California, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves militaries, government agencies, businesses and consumers. For more information visit www.avinc.com.

Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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AeroVironment, Inc.
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