Textron's Bell Helicopter Part of Winning Team to Build U.S. Presidential Helicopters

February 03, 2005

Team US101 Selected to Provide New Aircraft for Marine One Fleet

Providence, RI - February 3, 2005 - Bell Helicopter, a Textron Inc. company (NYSE: TXT) today announced that it will build new helicopters for the President of the United States' Marine One fleet, as part of Lockheed-led "Team US101" -- which was recently awarded the contract in a competition led by the U.S. Navy. The current contract schedule calls for 23 US101 medium-lift helicopters to replace the aging Presidential fleet, with expected deliveries to the Marine One squadron commencing in 2009 with a 2014 completion.

"This is a great win for Team US101 -- and a very proud moment for Bell Helicopter," said Textron Chairman, President and CEO, Lewis B. Campbell. "This truly validates the strength of Textron's aircraft business and manufacturing capabilities as we have worked to redefine and advance market-leading technologies that bring unsurpassed product offerings to our customers."

"In addition to being an important milestone in the advancement of our government and military programs, this win is a true honor for Bell. We are excited and proud to be part of the team selected to build the new helicopter fleet for the President of the United States," said Bell CEO Mike Redenbaugh. "In addition, it's especially fitting that Bell is a part of this win, since the very first U.S. Presidential helicopter -- nearly fifty years ago -- was a Bell OH-13 for President Dwight Eisenhower."

AgustaWestland and Bell Helicopter formed the joint venture, AgustaWestlandBell, in 2003 to manufacture the US101 helicopter in America. AgustaWestlandBell will act as a subcontractor to Lockheed Martin, which, as prime contractor and systems integrator, will have overall responsibility for the program and delivery of the US101 helicopter to the customer. AgustaWestlandBell, as licensee of the US 101's intellectual property, will have overall responsibility for the US101 air vehicle design, configuration management and support. The joint venture will also have responsibility for transfer of production and procurement operations for the US101 from the current supply base in Europe to the United States, as well as responsibility for expanding the already large American supply base.

The US101 solution is based on AgustaWestland's successful multi-mission EH101 helicopter. Bell will assemble the aircraft at its Assembly & Integration Center in Amarillo, Texas, and expects to hire an additional 300 workers in its Amarillo and Fort Worth facilities to support the program.

About Bell Helicopter

Bell Helicopter, a subsidiary of Textron Inc., is a $1.6 billion leading producer of commercial and military helicopters, and the pioneer of the revolutionary tiltrotor aircraft. Globally recognized for customer service, innovation and superior quality, Bell's global workforce of over 8,300 employees services customers flying Bell aircraft in over 120 countries.

About Textron

Textron Inc. is a $10 billion multi-industry company with 44,000 employees in 40 countries. The company leverages its global network of aircraft, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft, Jacobsen, Kautex, Lycoming, E-Z-GO and Greenlee, among others. More information is available at www.textron.com.

Forward-looking Information: Certain statements in this release and other oral and written statements made by Textron from time to time are forward-looking statements, including those that discuss strategies, goals, outlook or other non-historical matters; or project revenues, income, returns or other financial measures. These forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including the following: [a] the extent to which Textron is able to achieve savings from its restructuring plans; [b] uncertainty in estimating the amount and timing of restructuring charges and related costs; [c] changes in worldwide economic and political conditions that impact interest and foreign exchange rates; [d] the occurrence of work stoppages and strikes at key facilities of Textron or Textron's customers or suppliers; [e] government funding and program approvals affecting products being developed or sold under government programs; [f] cost and delivery performance under various program and development contracts; [g] the adequacy of cost estimates for various customer care programs including servicing warranties; [h] the ability to control costs and successful implementation of various cost reduction programs; [i] the timing of certifications of new aircraft products; [j] the occurrence of slowdowns or downturns in customer markets to which Textron products are sold or supplied or where Textron Financial offers financing; [k] changes in aircraft delivery schedules or cancellation of orders; [l] the impact of changes in tax legislation; [m] the extent to which Textron is able to pass raw material price increases through to customers or offset such price increases by reducing other costs; [n] Textron's ability to offset, through cost reductions, pricing pressure brought by original equipment manufacturer customers; [o] the availability and cost of insurance; [p] increases in pension expenses related to lower than expected asset performance or changes in discount rates; [q] Textron Financial's ability to maintain portfolio credit quality; [r] Textron Financial's access to debt financing at competitive rates; [s] uncertainty in estimating contingent liabilities and establishing reserves to address such contingencies; [t] performance of acquisitions; and [u] the efficacy of research and development investments to develop new products.

Connect with Textron IR

David Rosenberg, Vice President, Investor Relations
(401) 457-2288
Kyle Williams, Manager, Investor Relations
(401) 457-2288

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