Textron Businesses Generate Strong Interest at the Experimental Aircraft Association's Annual Convention

August 02, 2006

Cessna Aircraft Unveils Light Sport Aircraft Proof of Concept and Lycoming Engines Announces Grant at the 2006 AirVenture Oshkosh Air Show

Providence, RI – August 2, 2006 – Textron Inc. (NYSE: TXT) today announced that its Cessna Aircraft and Lycoming Engines businesses have once again yielded strong customer interest and new business opportunities resulting from products announced and/or showcased at the Experimental Aircraft Association's 2006 AirVenture Oshkosh Show, held last week in Oshkosh, Wisconsin.

Cessna unveiled a proof of concept aircraft that will be used to help determine whether the company will enter into the popular Light Sport Aircraft (LSA) sector. Over the next several months, the company will assess the market and the business case and plan to make a go/no go decision in the first quarter of next year. The aircraft unveiling brought much excitement from thousands of aviation enthusiasts and professionals who gathered, and further exemplified Textron's ability to serve aerospace customers with innovative concepts.

In addition, Lycoming Engines announced a partnership with the Lindbergh Foundation and the creation of the Lindbergh-Lycoming Grants program. The Lindbergh-Lycoming Grant will be given to an individual whose research project will advance aviation technology and balance it with the care and protection of our environment. This partnership not only supports Lycoming's commitment to innovation and technological advancement, but also the ongoing mission of Textron in becoming a premier multi-industry company.

"As perhaps the aviation industry's premier showcase for innovation, Oshkosh is a perfect venue for Textron to connect with aircraft enthusiasts – many of whom are our customers," said Lewis B. Campbell, Textron's Chairman, President and CEO. "Whether we are developing new products or awarding grants for research and educational purposes, these customers are at the center of all we do."

Other activities and news from Textron at Oshkosh included:

 

  • Cessna's Next Generation Piston Proof-of-Concept aircraft paid a surprise visit to AirVenture 2006, making low passes before a crowd of thousands, providing the first glimpse of the airplane that has been quietly under development for several years.
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  • Lycoming announced the creation of their Advanced Technology Center (ATC), a center of excellence designed to generate a series of innovations such as roller tappets, electronic controls (FADEC), new Cylinder Technology, and at this Oshkosh, Lycoming displayed a proof of concept heavy fuel (diesel) engine.
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  • Thunderbolt Engines, Lycoming's new family of non-certified, factory engines, custom built in the ATC, also were on display at Oshkosh. Customers include end-users in the experimental home-built, aerobatic and racing markets.
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  • Cessna announced the order of 29 172 Skyhawks from Embry-Riddle Aeronautical University. With the additional 29 Skyhawks on order, the all-Cessna Embry-Riddle fleet will now include 69 Skyhawks.
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  • The recipient of the 2006 Lindbergh-Lycoming Grant was announced and awarded to Lesley A. Weitz of Texas A&M University for her project entitled, "Reducing Fuel Inefficiencies and Noise Pollution from Aircraft by Exploring the Wider use of Continuous Descent Approaches at Busy Airports." In this research project, Ms. Weitz will explore the combination of cockpit control systems and Continuous Descent Approaches to safely increase airport capacity, while reducing engine noise in neighboring residential areas and decreasing fuel consumption and emissions from aircraft.
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  • With more than 1,400 total flight hours and more than 850 flights accumulated by the three Citation Mustangs flying in Cessna's certification program, the Citation Mustang remains on track for Federal Aviation Administration certification later this year and European Aviation Safety Agency certification in second quarter 2007.
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  • Lycoming Engines announced the 2006-2007 aerobatic pilot sponsorships for Team Lycoming. Lycoming Engines will be proudly supporting the following aerobatic pilots in the 2006-2007 season (in alphabetical order): Kirby Chambliss, Matt Chapman, Michael Goulian, Jim LeRoy, Michael Mancuso, Sean Tucker, and Patty Wagstaff.
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  • The first 172 Skyhawk, N5000A, delivered in 1956 was on display as a part of the 50th anniversary celebration of the 172. The fifteenth owner, Joe Nelson, indicated that there are 4,280.7 hours on the air frame, and the engine is on its fourth overhaul with 230 hours on the most recent one.
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Lycoming Engines specializes in Engineering, Manufacture, Service and Support of piston aircraft engines. Headquartered in Williamsport, Pennsylvania, Lycoming piston engines power more than half of the world's general aviation fleet – both rotary-wing and fixed-wing. Lycoming Engines is a division of Avco Corporation, a wholly owned subsidiary of Textron Inc. More information is available at www.lycoming.textron.com.

Based on unit sales, Cessna Aircraft Company is the world's largest manufacturer of general aviation airplanes. In 2005, Cessna delivered 1,157 aircraft and reported revenues of about $3.5 billion. Since the company was originally established in 1927, more than 187,000 Cessna airplanes have been delivered to nearly every country in the world. The global fleet of more than 4,500 Citations is the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at www.cessna.com. Cessna is a subsidiary of Textron Inc. (TXT).

Textron Inc. is a $10 billion multi-industry company operating in 33 countries with approximately 37,000 employees in continuing operations. 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.

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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