New Century Companies, Inc. Open Letter to Shareholders:

LOS ANGELES, CA, Oct 29 (MARKET WIRE) --
New Century Companies, Inc. (OTCBB: NCNC) provides open letter to
shareholders.

On October 9, 2009, New Century Companies, Inc. (OTCBB: NCNC) completed a
merger with Precision Aerostructures, Inc. This is a transformative
business development for our Company, adding to New Century a world class
contract manufacturer in the aerospace industry. Given the magnitude of
this transaction, I thought it would be helpful to provide additional
details on Precision and the strategic benefits of the merger.

First and foremost, this merger immediately scales our business to
positive EBITDA and provides a strong growth catalyst for our business.
From a top line perspective, combined pro forma revenues should exceed $7
million this year, a significant increase over the $4.8 million that New
Century reported in 2008. This enhanced scale should enable us to generate
positive combined pro forma adjusted EBITDA in 2009. More importantly,
looking into 2010 Precision's robust backlog, coupled with the
stabilization that we are now seeing in our machinery business, positions
us to drive considerable revenue growth, margin improvement and strong net
income which we expect to reach $0.12 per share.

Background of Precision Aerostructures

Precision supplies structural aircraft components and assemblies designed
to perform reliably in harsh environmental conditions, including high and
low temperatures, severe shock and vibration. The Company specializes in
engineering and manufacturing precision Computer Numerically Controlled
(CNC) machined multiaxis structural components for many of the major
aircraft builders in the United States and internationally. They service
customers in the defense, government systems, aerospace and commercial
markets.

The company was founded in 2006 with a single large customer, Eclipse
Aviation. Beginning in 2008, Precision began broadening its customer base
by providing machining services to GE under the Orion P3 refurbishment
program. The P3 is used to hunt submarines and there are approximately 450
still in service. Subsequently, Precision was awarded contracts with
Spirit Aerospace (formerly Boeing subassemblies) as well as Boeing itself
for small parts on the 747-8 and 787 engines.

Benefits of the Merger

This merger brings together two very complementary businesses and has
numerous synergies, including:

Strong Backlog: The current five year backlog for Precision is
approximately $27 million, including orders from GE, Boeing, L-3
Communications and Spirit Aerosystems. Furthermore, we are also encouraged
by the initial order we recently received from Sikorsky Aircraft. As our
shareholders know, New Century has historically been very exposed to the
capital equipment cycle. This increased and longer-term backlog enables us
to plan our business better.

Fortuitous Timing: While we are not economists, it is evident to us based
on the discussions we are having with customers that the economy is
improving and there is strengthening demand for for our products and
services. This acquisition positions us favorably to benefit from an
improving economy.

Diversified Sales Channels Serving Multiple Sectors: The combination
permits the Company to offer multiple services to customers. New Century
will continue to sell large customized CNC equipment, while providing
Precision's turnkey engineering and milling services to similar customers.

High Replacement Knowledge a Barrier to Entry: Both organizations have a
significant amount of institutional engineering and manufacturing
knowledge that combined create a much more valuable company. This
knowledge, along with the invested infrastructure, on a combined basis
forms a much stronger company that can compete more effectively.

We are now completely focused on executing on the growth opportunity
before us. Precision has considerable capacity for growth with its current
facilities and equipment, and we anticipate that we can begin executing on
the backlog with modest capital expenditure. Furthermore, Precision's
facility is located in close proximity to New Century, enhancing our
ability to realize synergies as we scale the combined business.

In closing, we believe this merger is highly accretive to all of our
shareholders and positions us favorably in a new high growth market. On
behalf of our Company and Board of Directors, I would like to welcome the
Precision team to New Century and I look forward to updating investors on
our progress.

Sincerely,

David Duquette
Chairman, Chief Executive Officer
New Century Companies, Inc.

About New Century Companies, Inc.

New Century Companies, Inc. is a supplier of structural aircraft
components and assemblies, as well as a leading re-manufacturer of
machine tools. New Century, through its wholly owned subsidiary Precision
Aerostructures, specializes in engineering and manufacturing precision
details for the aerospace industry that perform reliably in harsh
conditions, including high and low temperatures, severe shock and
vibration. New Century also is a leading domestic manufacturer of machine
tools, primarily vertical boring mills and large lathes such as Vertical
Turning Centers (VTC). Precision serves major aircraft builders such as
General Electric, Boeing L3 Communications and Eclipse Aerospace. The
Company has production facilities in Rancho Cucamonga, CA and Santa Fe
Springs, CA.

For more information please visit New Century's website at
www.newcenturyinc.com or Precision's website at
www.precisionaerostructures.com.

Forward-looking statement: Except for historical information, this press
release contains forward-looking statements, which reflect the Company's
current expectation regarding future events. These forward-looking
statements involve risks and uncertainties, which may cause actual results
to differ materially from those statements. Those risks and uncertainties
include, but are not limited to, changing market conditions and other
risks detailed from time to time in the Company's ongoing quarterly
filings, annual information form, and annual reports. We undertake no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. In
light of these risks, uncertainties and assumptions, the forward-looking
events in this press release might not occur.

David Duquette
CEO
New Century
Phone: 562-906-8455

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