Textron Marine & Land Systems Awarded Contract Option for 73 Additional M1117 and M1200 Armored Vehicles

August 02, 2010

NEW ORLEANS, Aug 02, 2010 (BUSINESS WIRE) -- Textron Marine & Land Systems, an operating unit of Textron Systems, a Textron Inc. (NYSE: TXT) company, today announced a firm-fixed-price contract award from the U.S. Army Tank-automotive and Armaments Command (TACOM) for additional M1117 Armored Security Vehicles (ASV) and M1200 Armored Knights.

The award, valued at $49,808,772, exercises options for 52 M1117 ASVs, 21 M1200 Armored Knights, and 12 special tool sets with Textron Marine & Land Systems. Work is to be performed in the New Orleans area, with an estimated completion date of February, 2012.

"The ASV provides the highest level of mobility and survivability to successfully carry out a wide range of combat mission roles for the U.S. Army in Iraq and Afghanistan," said Textron Marine & Land Systems General Manager Tom Walmsley. "Our team is continually working to build the best military vehicle possible to protect the warfighters serving our country."

The ASV is a 4X4 wheeled armored vehicle that offers significant crew protection through the employment of multiple layers of armor, defending against small arms fire, artillery projectile fragments, Improvised Explosive Devices (IEDs) and land mines. The ASV possesses superior mobility, agility, handling and ride quality through the utilization of a four-wheel independent suspension system.

The ASV has maintained exceptional operational readiness and combat availability rates over the life of the U.S. Army program as vehicles log more than 30,000 miles per year in combat operations. Textron Marine & Land Systems has achieved more than 58 consecutive months of on-time delivery to the U.S. Army on the ASV program, and has delivered more than 2,700 ASVs to the U.S. Army to-date.

The ASV family of vehicles performs a wide variety of missions including scout, infantry personnel carrier, reconnaissance, command and control and maintenance. U.S. Army ASV missions include operations with the Military Police, convoy protection, perimeter security, as well as Field Artillery Combat Observation and Lasing Teams (COLT) with the M1200 ASV configuration.

About Textron Marine & Land Systems

Textron Marine & Land Systems specializes in the design, production and support of advanced marine craft, armored combat vehicles, turrets and related subsystems. Through its MillenWorks strategic business, Textron Marine & Land Systems designs and develops advanced mobility solutions for demanding on- and off-road applications. Textron Marine & Land Systems serves military and commercial customers domestically and internationally, and is an operating unit of Textron Systems, a Textron Inc. company. More information is available at http://www.textronmarineandland.com.

About Textron Systems

Textron Systems Corporation has been providing innovative solutions to the defense, homeland security and aerospace communities for more than 50 years. Known for its unmanned aircraft systems, advanced marine craft, armored vehicles, intelligent battlefield and surveillance systems, intelligence software solutions, precision smart weapons, piston engines, test and training systems, and total life cycle sustainment services, Textron Systems includes AAI Corporation, Lycoming Engines, Overwatch, Textron Defense Systems and Textron Marine & Land Systems. Textron Systems Corporation is an indirect wholly owned subsidiary of Textron Inc. More information is available at http://www.textronsystems.com.

About Textron Inc.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, 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, and Textron Systems. More information is available at http://www.textron.com.

Forward-looking Information: Certain statements in this press 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 Textron facilities or at Textron's customers or suppliers; (c) changing priorities or reductions in the U.S. Government defense budget, including those related to Operation Iraqi Freedom, Operation Enduring Freedom and the Overseas Contingency Operations; (d) our ability to perform as anticipated and to control costs under contracts with the U.S. Government; (e) the U.S. Government's ability to unilaterally modify or terminate its contracts with us for the U.S. Government's convenience or for our failure to perform, to change applicable procurement and accounting policies, and, under certain circumstances, to suspend or debar us as a contractor eligible to receive future contract awards; (f) changes in vehicle delivery schedules or cancellation of orders; (g) legislative or regulatory actions impacting defense operations; (h) performance issues with key suppliers, subcontractors and business partners; and (i) bankruptcy or other financial problems at major suppliers that could cause disruptions in Textron's supply chain.

SOURCE: Textron Inc.

Investor Contact:
Textron
Doug Wilburne, 401-457-2288
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Textron
Bill Pitts, 401-457-2288
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Media Contact:
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Sharon Corona, 410-628-3184
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Textron
Michael Maynard, 401-457-2474

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