UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Rosenfeld, Eric
c/o Crescendo Partners II LP Series L
350 Park Avenue
4th Floor
New York, NY 10022
USA
2. Date of Event Requiring Statement (Month/Day/Year)
April 1, 2003
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
CPI Aerostructures, Inc.
CVU
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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Common Stock, $.001 par value |46,000 |D(1) |-- |
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Common Stock, $.001 par value |873,334 |I |(2) |
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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Explanation of Responses:
(1) Held as joint tenant with Reporting Person's
wife.
(2) Held by Crescendo Partners II, L.P. Series L. Reporting Person is the
manager of the sole general partner of Crescendo Partners II, L.P. Series L.
Reporting Person disclaims beneficial ownership of these securities except to
the extent of his pecuniary interest therein.
SIGNATURE OF REPORTING PERSON
/s/ Eric Rosenfeld
DATE
April 2, 2003