Lycoming Announces Change to Engine Core Policy

April 12, 2005

Fixed Pricing and Streamlined Procedure Begins

Lakeland, FL - April 12, 2005 - Lycoming Engines announced today the change and implementation of its new engine exchange core policy. Effective April 3, 2005, the new core policy will offer customers greater and enhanced exchange options.

"Our customers have spoken and we believe our new core policy offers a hassle-free exchange program," stated Todd Stoner, Lycoming vice president of sales and marketing. "We have made ordering simpler, procedures clearer, and pricing predictable."

Among the benefits, the new policy guarantees a zero charge-back fee if Lycoming is sent a completely assembled, like and active core within 120 days of the exchange engine invoice date. This increases the window of opportunity for stocking distributors to turn their inventory and will give the end user more flexibility to schedule engine removal and installation. Additionally, late fees have been reduced by 86% to provide the customer more options when a timely core return is inconvenient.

To also assist distributors, Lycoming has restructured the core return process (RMA) by assigning a dedicated core representative. The core representative will provide assistance to verify that all return core requirements are understood before the core is returned, facilitate the acceptance of the core at the factory, and expedite a core credit for the customer. Lycoming has also eliminated the engine (core) exchange agreement (form 2486) and replaced it with a one-page policy overview. Although not specifically required, distributors are encouraged to utilize this tool as another way to simplify the process.

"Lycoming will continue to provide safe, reliable, warranted aftermarket engines. With this latest policy revision, our customers will be assured of a competitive price and a risk-free core credit allowance," added Stoner.

Lycoming is an operating division of Textron's Avco Corporation subsidiary, specializing in manufacture and support of piston aircraft engines. Lycoming piston engines power more than half of the world's general aviation fleet -both rotary-wing and fixed-wing. Textron Inc. is a $10 billion multi-industry company with more than 44,000 employees in 40 countries. The company leverages its global network of businesses to provide customers with innovative solutions and services in industries such as aircraft, fastening systems, industrial products, industrial components and finance. Textron is known around the world for its powerful brands such as Bell Helicopter, Jacobsen, Cessna Aircraft, Kautex, Lycoming, E-Z-GO and Greenlee, among others. More information is available at

Connect with Textron IR

Eric Salander, Vice President, Investor Relations
(401) 457-2288
Cameron Vollmuth, Manager,
Investor Relations (401) 457-2288

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