Cessna Announces Agreement with Thielert Aircraft Engines GmbH

June 27, 2007

Wichita, KS - June 27, 2007 - Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, announced today it has reached agreement with Germany's Thielert Aircraft Engines GmbH to collaborate on future programs centered on the Thielert diesel engine. Details are scheduled to be announced later this year.

"We think the Thielert engine may provide a very worthwhile power option for many of our customers since it runs on jet fuel and diesel," said Cessna Vice President, Worldwide Propeller Aircraft Sales John Doman. "We have had discussions with Frank Thielert and his group for some time, and we think the time is right to move forward."

"We have a number of products that are of interest to Cessna and we are excited to be moving forward in our relationship," said Frank Thielert, CEO of Thielert Aircraft Engines GmbH. "The benefits are documented, so we have great confidence the customers of Cessna would be pleased with the savings and reliability."

Thielert has won several European certifications since 2002 for retrofitting diesel engines into Cessna aircraft, and a supplemental type certificate (STC) for retrofitting the Cessna 172 was granted in March 2007 by the U.S. Federal Aviation Administration. Thielert engines feature low fuel consumption, electronic engine control systems, and improved hot-and-high engine performance.

Based on unit sales, Cessna Aircraft Company is the world's largest manufacturer of general aviation airplanes. In 2006, Cessna delivered 1,239 aircraft, including 307 Citation business jets, and reported revenues of about $4.2 billion and a backlog of $8.5 billion. Since the company was originally established in 1927, more than 189,000 Cessna airplanes have been delivered to nearly every country in the world. The global fleet of almost 5,000 Citations is the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at www.cessna.com.

Textron Inc. is an $11 billion multi-industry company operating in 32 countries with approximately 40,000 employees. 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 Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Fluid & Power, Textron Systems and Textron Financial Corporation. More information is available at www.textron.com.

Forward-looking Information: Certain statements in this report are forward-looking statements and 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 but not limited to the following: [a] changes in worldwide economic and political conditions that impact demand for our products, interest rates and foreign exchange rates; [b] the interruption of production at Textron facilities or Textron's customers or suppliers; [c] the occurrence of slowdowns or downturns in customer markets in which Textron products are sold or supplied or where Textron Financial offers financing; and [d] changes in aircraft delivery schedules or cancellation of orders.

 

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

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