The phase composition, microstructure, and mechanical properties of flat-rolled experimental Al-Cu-Mn system alloy with Si and Zr additions have been studied. The experimental results have been compared with data for the AA2219 commercial alloy pertaining to the same alloying system. Hot deformation of an experimental alloy causes the precipitation of ~100 nm sized dispersoids and refinement of the eutectic phase particles. The yield strength and relative elongation of the hot-deformed experimental alloy are 255 MPa and 8.6%, respectively. Subsequent cold deformation reduces the relative elongation by 3.5% and increases the yield strength by 50 MPa, while the ultimate tensile strength does not change. After long-term 350 °C exposure, the mechanical properties of the experimental alloy remain the same as those of the as-deformed one, whereas the yield strength of the 2219 alloy decreases by 2 times and the ultimate tensile strength by 1.4 times. Comparison of these experimental results with data for the 2219 alloy and other Al-Cu-Mn system alloys cited in this work and reported elsewhere suggests that a good thermal stability of Al-2Cu-2Mn-0.4Si-0.2Zr alloy rolled stock can be achieved through treatment using the regimes designed herein.