European Citation Fleet on Target to Surpass 1,000 This Year

July 10, 2008
Wichita, KS - July 10, 2008 - The European fleet of business jets manufactured by Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, will surpass 1,000 units by the end of 2008.

Cessna will showcase its line of Citation business jets, along with the company's single-engine pistons and turboprops, with an expanded display at the Farnborough International Airshow July 14-20. The exhibit will include a: Citation X, Citation XLS, Citation CJ2+, Citation Mustang, Grand Caravan, Cessna 400, Stationair, Skylane and Skyhawk. Additionally, Cessna is showing a cabin mock-up of the new Citation Columbus large cabin business jet.

"Europe is the largest market for Cessna products outside of North America," said Cessna Chairman, President and CEO Jack Pelton. The European Union is home to many large-scale exporters - creating a need for extensive use of business aircraft both within and outside the region."

Currently there are more than 900 Citations in Europe, representing 57 percent of the total European business jet fleet. Cessna plans to deliver 121 new business jets to Europe in 2008, with the top sellers being the Citation XLS+, CJ3, CJ2+, Sovereign and Mustang.

"We see the potential for significant development in the population of the European business jet market, from small to transcontinental, during the next 10 to 20 years," Pelton said. "Based on our commitments so far, we expect to add about 100-125 Citations each year during the next two or three years. To support this growth, we have progressively built a considerable service presence, both with our own facility in Europe as well as with independent maintenance providers. We recognize that service is a strong reason for our high level of customer retention and satisfaction, and that allows us to move customers up through the Citation family."

The global fleet of more than 5,200 Citations is the largest fleet of business jets in the world. Citation deliveries reached 387 in 2007, up from 307 in 2006 and an increase of 50 percent over 2005. Cessna plans to deliver 470 business jets by the end of 2008.

The company took a record 773 business jet orders in 2007 and, for the first time, Citation orders outside the United States account for more than half of Cessna's backlog.

About Cessna Aircraft Company
Based on unit sales, Cessna Aircraft Company is the world's largest manufacturer of general aviation airplanes. In 2007, Cessna delivered 1,272 aircraft, including 387 Citation business jets, and reported revenues of about $5 billion. Cessna has a current backlog of $14.5 billion. Since the company was originally established in 1927, some 190,000 Cessna airplanes have been delivered to nearly every country in the world. The global fleet of more than 5,100 Citations is the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at http://www.cessna.com.

 

About Textron Inc.
Textron Inc. is a $13.2 billion multi-industry company operating in 34 countries with approximately 44,000 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 release 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 our facilities or at our suppliers' facilities; [c] the timing of new product launches and certifications of new aircraft products; [d] the occurrence of slowdowns or downturns in customer markets in which our products are sold or supplied; [e] changes in aircraft delivery schedules or cancellation of orders; [f] the launching of significant new products or programs which could result in unanticipated expenses; [g] changes in national or international government policies on the export and import of commercial products; and [h] bankruptcy or other financial problems at major suppliers that could cause disruptions in our supply chain.

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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