Boeing Invests in Huneed Technologies for Command, Control and Communications Network Operations

The Boeing Company [NYSE: BA] has signed an agreement to invest in Huneed Technologies, a Korean company and leading supplier of communications network systems in the Korean market.

Boeing is making an equity investment for a minority interest in Huneed. Subject to regulatory approval, the transaction is expected to close in the third quarter of 2006.

"Huneed has a great reputation, and we are excited to partner on future command, control and communications (C3) and network-centric business," said Rick Baily, Boeing C3 Networks vice president. "Huneed has excellent customer knowledge and is well-positioned for strong growth in the network-centric operations arena."

Huneed has capabilities in the field of tactical communications (radios), Korean data links, Korean cryptographic equipment and cost-effective software development. Additionally, it is a successful Boeing partner in Korea on the 737 Airborne Early Warning & Control (AEW&C) team.

Boeing has more than 20 years of commercial aircraft and military equipment history with the Republic of Korea.

"This investment demonstrates Boeing's commitment to the Republic of Korea," said Bill Oberlin, president, Boeing Korea. "We are excited about enhancing our relationship with Huneed Technologies."

Boeing C3 Networks, a part of the Network & Space Systems business of Boeing Integrated Defense Systems, delivers revolutionary command, control and communications capabilities for interoperability, intelligence superiority, and rapid decision making within the integrated battlespace. Boeing C3 Networks delivers integrated capabilities ranging from ICBM guidance and sustainment expertise to strategic navigational and networking systems that have served the warfighter for more than 50 years.

A unit of The Boeing Company, Boeing Integrated Defense Systems is one of the world's largest space and defense businesses. Headquartered in St. Louis, Boeing Integrated Defense Systems is a $30.8 billion business. It provides network-centric system solutions to its global military, government, and commercial customers. It is a leading provider of intelligence, surveillance and reconnaissance systems; the world's largest military aircraft manufacturer; the world's largest satellite manufacturer; a foremost developer of advanced concepts and technologies; a leading provider of space-based communications; the primary systems integrator for U.S. missile defense; NASA's largest contractor; and a global leader in sustainment solutions and launch services.

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For further information:
Kari Kelley
The Boeing Company
Maggie Kymn
The Boeing Company Seoul