EXHIBIT 99.1

                                                                        Contact:
                                                                    Ed Dickinson
                                           Chief Financial Officer, 636/916-2150




FOR IMMEDIATE RELEASE

                 LMI AEROSPACE ANNOUNCES AMENDED BANK AGREEMENT

                 Also Requests an Extension For Filing Form 10-K

         ST. LOUIS,  March 31, 2004 - LMI  Aerospace,  Inc.  (Nasdaq:  LMIA),  a
leading  provider  of  assemblies,  kits and  detail  sheet  metal and  machined
components to the aerospace, defense and technology industries,  announced today
it has amended  certain loan  agreements  with its bank to extend the  company's
revolving  line of credit and two term loans through March 31, 2005,  subject to
certain conditions.

         Under the amended  agreement  with Union  Planters  Bank,  which became
effective on March 30, 2004, the maximum  principal amount of the revolving line
of credit has been increased to $9.7 million from $9.1 million through September
30, 2004,  then decreases to $9.0 million  thereafter.  The interest rate on the
credit  line was changed  from LIBOR plus 2.5  percent to the bank's  prime rate
plus 1 percent,  an increase of approximately  1.4 percent.

         The term notes,  for $9.16 million due March 31, 2005 and $8.77 million
due October 15, 2005,  both carry an interest rate of prime rate plus 2 percent,
with the $9.16 million note subject to its current minimum interest rate of 7%.

         In addition, the amended bank agreement requires additional increases
in interest rates and the payment of prescribed fees in the event the Company
fails to complete certain refinancing objectives, to permit the repayment in
full of the Company's indebtedness to its bank lender through alternative
financing and/or the sale of assets, by June 30, September 30 and December 31,
2004. The Company has engaged Lincoln Partners LLC, a Chicago, Illinois based
investment banking firm, to assist in these efforts.

         A copy of the amendment to the bank agreement has been included as an
exhibit to the Company's Form 8-K, which will be filed with the Securities and
Exchange Commission on March 31, 2004.

         The company also announced that it will file for a 15 day extension to
file its 2003 Annual Report on Form 10-K with the Securities and Exchange
Commission. The Company expects to file its 2003 Annual Report on Form 10-K on
or before April 14, 2004. LMI will issue guidance regarding 2004 operations when
it files its Form 10-K.

         LMI Aerospace, a leading supplier of quality components to the
aerospace and technology industries for 55 years, operates thirteen facilities
that fabricate, machine, finish, integrate, assemble and kit formed, close
tolerance aluminum and specialty alloy components for commercial, corporate,
regional and military aircraft, laser, equipment used in the semiconductor and
medical industries, and for the commercial sheet metal industries.

         This news release includes forward-looking statements,  which are based
on current management expectations.  Such forward-looking statements are subject
to various risks and uncertainties,  many of which are beyond the control of LMI
Aerospace,  Inc. Actual results could differ materially from the forward-looking
statements as a result, among other things, of the factors detailed from time to
time in LMI  Aerospace's  filings with the Securities  and Exchange  Commission,
including  those factors  contained in the company's  Annual Report on Form 10-K
for the year ended December 31, 2002.