Eighth Consecutive Year of Double-Digit Dividend Increases

Providence, RI - February 24, 1999 - Textron Inc. (NYSE: TXT) today declared a quarterly dividend of thirty-two and a half cents (32.5¢) per share on the company's Common Stock - a 14% increase from twenty-eight and a half cents (28.5¢) a share. This marks Textron's eighth consecutive year of double-digit dividend increases for its shareholders.

"This dividend increase reflects Textron's strong earnings in 1998 and our continued commitment to build shareholder value in 1999 and beyond," said Textron Chairman, President and Chief Executive Officer Lewis B. Campbell.

The Board of Directors also declared a quarterly dividend of fifty-two cents (52¢) on the Corporation's $2.08 Cumulative Convertible Preferred Stock, Series A, and thirty-five cents (35¢) per share on the $1.40 Convertible Preferred Dividend Stock, Series B.

All dividends will be paid on April 1, 1999, to holders of record at the close of business on March 12, 1999.

Textron Inc. (NYSE: TXT) is a $10 billion, global, multi-industry company with market-leading operations in Aircraft, Automotive, Industrial and Finance.