Acquisition of Aeroflex Incorporated Completed

Aeroflex Incorporated (formerly Nasdaq Symbol: ARXX) announced
today that it has completed the previously announced acquisition of
Aeroflex by affiliates of or funds managed by The Veritas Capital Fund
III, L.P., Golden Gate Private Equity, Inc. and Goldman, Sachs & Co.
The merger was approved by Aeroflex's shareholders at a meeting on
July 26. Aeroflex shareholders will receive $14.50 in exchange for the
shares of Aeroflex common stock and will receive written instructions
from the paying agent with respect to the proper method of exchanging
stock certificates for the merger consideration. Pending receipt of
such instructions, shareholders should not forward stock certificates
to the Company.

About Aeroflex

Aeroflex Incorporated is a global provider of high technology
solutions to the aerospace, defense and broadband communications
markets. The Company's diverse technologies allow it to design,
develop, manufacture and market a broad range of test, measurement and
microelectronic products. Additional information concerning Aeroflex
Incorporated can be found on the Company's website: www.aeroflex.com.

Forward-Looking Statements

This press release contains forward-looking statements. All
statements other than statements of historical fact included in this
press release regarding Aeroflex's business strategy and plans and
objectives of its management for future operations are forward-looking
statements. When used in this press release, words such as
"anticipate," "believe," "estimate," "expect," "intend" and similar
expressions, as they relate to Aeroflex or its management, identify
forward-looking statements. Such forward-looking statements are based
on the current beliefs of Aeroflex's management, as well as
assumptions made by and information currently available to its
management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of certain
factors, including but not limited to, competitive factors and pricing
pressures, changes in legal and regulatory requirements, technological
change or difficulties, product development risks, commercialization
difficulties and general economic conditions. Such statements reflect
our current views with respect to the future and are subject to these
and other risks, uncertainties and assumptions. Aeroflex does not
undertake any obligation to update such forward-looking statements.