Textron Marine & Land to Consolidate Engineering, Administration to Slidell Site

May 21, 2007

New Orleans, LA – May 21, 2007 — Textron Marine & Land, an operating unit of Textron Systems, a Textron Inc. (NYSE: TXT) company, has signed a three year lease with the City of Slidell for the 100,000 sq. ft. office complex formerly used by Defense Information Systems Agency (DISA).

Textron Marine & Land suffered extensive damage to its facilities in the New Orleans area as a result of Hurricane Katrina, and was forced to find space wherever possible in the aftermath to spool up production as quickly as possible. As a result, operations were located at five different sites in the New Orleans and Slidell areas. These moves, along with the quick reconstruction of the East New Orleans Shipyard manufacturing site, allowed Textron Marine & Land production to resume within two months of Hurricane Katrina. The significant storm protection improvements made at the East New Orleans site support the continued, long term use of the facility.

Plans are to relocate the engineering and general administrative components of the company into this new Slidell facility, all of which are now scattered in three different locations.

"We experienced rapid growth in our company immediately after Hurricane Katrina, at the same time we suffered serious damage to our existing operations sites," said Textron Marine & Land General Manager Tom Walmsley. "This move will allow us to bring our critical engineering and administrative people back together at one common location, helping us work much more efficiently. We knew we would need to make these moves at some point, from a business perspective, and we are facing a period of potential growth, making it critical now."

The consolidation of these operations will bring employees scattered at three sites into one. Much of the general administration is currently located in a building at the New Orleans Regional Business Park, while the bulk of engineering is currently housed in a smaller office building in Slidell.

"While Textron Marine & Land will be leaving one site in East New Orleans and consolidating some people from our shipyard location on Chef Menteur Highway, we remain committed to the future of East New Orleans, New Orleans and the region," said Walmsley. "We are in a growth pattern, much to the credit of our New Orleans regional workforce. We anticipate additional growth in our shipyard activities based at a site which continues to be the center of our manufacturing operations."

Textron Marine & Land has signed a three-year lease, with options, on the building located at 1010 Gause Blvd. in Slidell. It is a state-of-the-art-facility of 100,000 sq. ft., allowing for consolidation and future expansion. "We would like to commend Mayor Ben Morris and his team at the City of Slidell," said Walmsley. "They have been very accommodating in working with us on this, and this move will help Textron Marine & Land continue to grow its capabilities and workforce in the region."

Textron Marine & Land has a long manufacturing history in the New Orleans area, with products such at the Landing Craft, Air Cushion (LCAC), Motor Life Boat (MLB), Armored Security Vehicle (ASV), and others. More information is available at www.textronmarineandland.com.

 

About Textron Systems
Textron Systems Corporation ("Textron Systems") provides innovative technology solutions to meet the needs of the global aerospace and defense industries. The company supports military and homeland security missions with strike weapons, as well as mobility and surveillance systems, and provides commercial and general aviation with engines and actuation systems. The Textron name is well known in the areas of advanced weapons, surveillance systems, aircraft control components, piston engines, specialty marine craft and armored vehicles. Textron Systems is a wholly-owned subsidiary of Avco Corporation. Avco Corporation is wholly-owned subsidiary of Textron Inc. More information is available at www.textronsystems.com.

About Textron Inc.
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.

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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