CPI AEROSTRUCTURES INC — Director's Dealing 2003

Dec 9, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CPI AEROSTRUCTURES INC (CVU)
CIK: 0000889348
Period of Report: 2003-12-08

Reporting Person: AUGUST ARTHUR (Director, Chairman of the Board, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-08	Common Stock	S	2000	$11.70	Disposed	270484	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3000	Indirect

Footnotes

F1: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 5, 2003.