Los Angeles, Calif., August 30, 2002   Worldwide Aeros Corp. (Aeros) and The Korea Aerospace Research Institute (KARI) have successfully completed an envelope test program for a stratospheric technology demonstrator platform airship. The 50m airship is the Phase 1 flight test article for the South Korean High-Altitude Airship (HAA) development program. Aeros, under a contract with KARI, designed and built the envelope for the experimental stratospheric vehicle in the Company's Canoga Park, Calif. facility. The test vehicle's envelope has a length of 50 meters, a diameter of 12.5 meters and volume close to 4,000 cubic meters.

"I am very pleased with the results of this test," said Dr. Chan-Hong Yeom, KARI Principal Airship Research Engineer. "It is a significant step in the development phase. We wanted to validate the maturity of the technology and demonstrate an autonomous approach and systems capability. Our next step will be to finish the final assembly and start the flight operations program."

About Aeros: AEROS is the world's leading lighter-than-air, FAA-certified aircraft manufacturing company.  The Company's operations involve research, development, and marketing of a wide variety of air vehicles. These include rigid aeroscrafts, commercial non-rigid airships, and advanced manned and unmanned tethered aerostatic systems. The airships are available for utilization in a variety of civil and military missions.  AEROS successfully completed the FAA Type Certification of its Aeros 40B multi-commercial use airship, and FAA applications have been filed for its Aeros ML revolutionary Transport Category Aeroscraft.  AEROS has affiliates in eight European and Asian countries, and the company's industry-leading expertise is based on more than 20 years of operations and research in lighter-than-air technologies. For more information about Aeros, please visit its web site at www.aerosml.com.

About KARI: KARI was established by the South Korean Government as a research institute exclusively for the development of aerospace technology, in accordance with the national development plan for the aerospace industry. For more information about KARI, please visit its web site at www.kari.re.kr

About Stratospheric Airship Program: The stratospheric airship offers a cost effective alternative to low earth orbit satellites. Aeros reports that the main advantages of stratospheric airships over satellites are cost and payload recoverability. The concept is to station unmanned airships at an altitude of 65 thousand feet and remotely maneuver them in a geostationary position. From that altitude, the over the horizon capabilities are enhanced to make it an effective platform for radars and electro optical surveillance. Beyond the military application their ability to carry wireless communication antennas is seen as the most lucrative civil application for the technology.

The US homeland security issues have raised the stratospheric airship program to a new level of importance for our country. It is reported that before the end of this year the US government will issue a request for proposal for the development of the first proto-type unmanned stratospheric airship.