Boeing

Boeing Airplane Services and BFGoodrich Aerospace announced today that they have signed a Letter Agreement to pursue airplane maintenance, repair, and overhaul activities on a worldwide basis. The agreement envisions the parties jointly providing the commercial aviation industry with a range of services, including line and heavy maintenance and general repair services.

"This is an exciting opportunity," said Joe Gullion, president of Boeing Airplane Services. "We're both focused on providing the world's airlines with exceptional service and total solutions for their fleet's maintenance and repair requirements."

In June 1999, Boeing Airplane Services announced it had formed a global alliance of engineering and modification facilities, including BFGoodrich, to provide airlines with retrofit packages for Boeing commercial airplanes. The agreement announced today is another logical and significant step to increase the ability of Boeing to provide a greater range of products and services to meet customers' needs, according to Gullion.

"We're teaming with Boeing in an effort to leverage the resources of both companies," said Dave Watson, president of the Maintenance, Repair and Overhaul and Landing & Safety Systems Groups of BFGoodrich Aerospace. "BFGoodrich brings a wealth of experience to the table with thirty years experience in the aircraft and component third-party maintenance and modification industry."

Boeing Airplane Services and BFGoodrich will continue to conduct negotiations in an effort to reach a formal agreement on their strategic partnership.

Boeing Airplane Services offers engineering retrofit packages, avionics upgrades, in-flight entertainment systems integration and cabin management solutions. Boeing Airplane Services also offers passenger-to-freighter conversions, recovery and repair services, and airplane performance improvements for all Boeing commercial airplanes. In addition, Boeing Airplane Services has the most comprehensive spare parts distribution system in the industry, with a worldwide network of distribution and service centers. It also provides technical consulting and general contracting support for passenger and cargo airlines.

Boeing Airplane Services is part of the Boeing Commercial Aviation Services organization, which offers the aviation industry's broadest array of support resources. There are more than 11,000 Boeing airplanes in operation today around the world.

BFGoodrich Aerospace operates more than 25 service centers worldwide for the repair and overhaul of airframes, landing systems, nacelles and thrust reversers, evacuation slides, as well as many airframe and avionic components. Its Everett facility is North America's largest independent aircraft repair station, with more than 1.2 million square feet of hangar, backshop and office space. The facility was recently rated as the world's premier provider of airframe maintenance services in a recent survey of airlines by Air Transport World magazine, and was honored by the FAA with a prestigious Aviation Maintenance Technician Corporate Diamond Award.

BFGoodrich is a Fortune 300 company with leading business positions in advanced aerospace systems, performance materials, and engineered industrial products. With sales approaching $4 billion, BFGoodrich Aerospace is one of the world's leading suppliers of components and systems. BFGoodrich has its headquarters in Charlotte, North Carolina, and employs 27,000 people worldwide. For more information, please visit its website at www.bfgoodrich.com.