FOR IMMEDIATE RELEASE



           August 25, 2004

           Thomas S. Irwin (954) 987-4000 ext. 7560

           Victor H. Mendelson (305) 374-1745 ext. 7590



                           HEICO REPORTS SIGNIFICANTLY

                            INCREASED 3rd Qtr RESULTS

           150% Increase in Net Income and Continued Strong Cash Flow;

         29% Increase in Operating Income on 23% Increase in Net Sales;

                     Raises 2004 Sales and Earnings Targets



HOLLYWOOD, FL and MIAMI, FL -- HEICO CORPORATION (NYSE: HEI.A and HEI) today

reported that net income for the third quarter of 2004 increased 150% to

$8,115,000, or 32 cents per diluted share, compared to net income of $3,240,000,

or 13 cents per diluted share, for the third quarter of fiscal 2003. For the

first nine months of fiscal 2004, net income increased 78% to $15,464,000, or 60

cents per diluted share, from $8,682,000, or 36 cents per diluted share, in the

first nine months of fiscal 2003.



(NOTE: HEICO has two classes of common stock traded on the NYSE. Both classes,

the Class A Common Stock (HEI.A) and the Common Stock (HEI), are virtually

identical in all economic respects. The only difference between the share

classes is the voting rights. The Class A Common Stock (HEI.A) receives 1/10

vote per share and the Common Stock (HEI) receives one vote per share.)



Operating income increased 29% to $7,870,000 for the third quarter of fiscal

2004 from $6,101,000 for the third quarter of fiscal 2003 and increased 37% to

$22,615,000 for the first nine months of fiscal 2004 from $16,561,000 for the

first nine months of fiscal 2003.



Net sales for the third quarter of fiscal 2004 were up 23% to $55,820,000 from

$45,412,000 in the third quarter of fiscal 2003. Net sales increased 20% to

$154,764,000 in the first nine months of fiscal 2004 from $128,791,000 in the

first nine months of fiscal 2003.



Net income for the third quarter and the first nine months of fiscal 2004

includes $4.0 million in proceeds (net of the minority interest's share of the

income) from a key-person life insurance policy maintained by a subsidiary of

the Company's Flight Support Group. In the attached Condensed Consolidated

Statements of Operations, the life insurance proceeds are excluded from the

computation of operating income and reported after operating income. Included in



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operating income for the third quarter and first nine months of fiscal 2004 are

$600,000 of pre-tax restructuring expenses within certain subsidiaries of the

Flight Support Group that provide repair and overhaul services and $235,000 of

pre-tax legal and other costs related to litigation brought by a subsidiary of

the Company's Electronic Technologies Group. The net impact of the life

insurance proceeds reduced by the restructuring expenses and litigation-related

expenses increased net income by $3.6 million, or $.14 per diluted share, for

the third quarter and first nine months of fiscal 2004.



Cash flow from operating activities for the first nine months of fiscal 2004

increased 80% to $32.6 million, including $5.0 million from the life insurance

proceeds, from $18.1 million in the first nine months of fiscal 2003 and equaled

211% of the Company's net income. Capital expenditures totaled $3.4 million in

the first nine months of fiscal 2004.



Laurans A. Mendelson, HEICO's Chairman, President & Chief Executive Officer,

remarked, "Based on our operating results through the third quarter and current

market conditions, we are raising our fiscal 2004 sales growth target to 20%

over fiscal 2003 and increasing our diluted earnings per share target to a range

of $.78 - $.80, which would represent a significant increase of over 50% from

fiscal 2003 per share results. Fiscal 2004 cash flow from operating activities

should approximate $39 - $40 million, which would represent an $11 - $12 million

increase over fiscal 2003. Capital expenditures should total $5 - $6 million in

fiscal 2004.



We are pleased to report both increased sales and improved margins in each of

our business segments and our PMA aftermarket sales reached an all time

quarterly high in the third quarter. This reflects both organic growth, which

approximated 15% in the third quarter of fiscal 2004 over the third quarter of

fiscal 2003, and growth through acquiring profitable, well-managed businesses.

We also believe that our ongoing new product development efforts and strategic

relationships with some of the world's major airlines continue to contribute to

the improved operating results within the Flight Support Group where sales have

exceeded our internal targets.



Operating margins within our Flight Support Group continue to show

year-over-year improvement despite the restructuring expenses incurred in the

third quarter of fiscal 2004. We believe these restructuring efforts, which

include consolidation of two West Coast repair and overhaul facilities and

related management hiring and relocation expenses, will allow us to better serve

our customers while further improving operating margins.



As we continue to add new products and further penetrate our markets, we expect

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