Boeing

BRISBANE, AUSTRALIA, April 21, 2008 -- Boeing Australia Limited, a wholly owned subsidiary of The Boeing Company [NYSE: BA], on April 20 marked the 10th anniversary of its Brisbane headquarters.

Boeing Australia Limited President David Withers said the anniversary was a milestone for the company and the city of Brisbane. "We were one of the first aerospace businesses encouraged to relocate to Brisbane, and the move has been a success story for us," he said.

In 1998, the company moved its operations in North Ryde, Sydney, and Avalon, Victoria, to a new headquarters at Boeing House in Brisbane's Central Business District.

Since then, the company's Queensland work force has increased from 150 employees to more than 1,750 and continues to grow.

Withers said locating the company's headquarters near Brisbane Airport and Boeing's major defense customers was a huge factor in its growth.

"Our Brisbane office has become a hub for a range of innovative, cutting-edge and developmental defense projects," he said.

These projects include the ground-based air defense system Vigilare and the development of a radio system using High Frequency services. The Systems Analysis Laboratory -- the Asia-Pacific region's leading virtual warfare, simulation and analysis center -- and the ScanEagle unmanned aerial vehicle team are also located in Brisbane. ScanEagle provides vital surveillance and reconnaissance capabilities for Australian and coalition forces in Afghanistan and Iraq.

Withers noted that over the past 10 years, the company has heavily invested in Brisbane through new technology, infrastructure, jobs and education.

"We've now got 17 Queensland high schools teaching aerospace subjects, and we've helped establish Australia's first dedicated Aviation High in the Brisbane suburb of Clayfield," he said. "We also have a policy of spreading our business around and forming partnerships with small-to-medium sized, locally based companies to grow the local economy."

The company also continues to support Brisbane through corporate-citizenship activities. Last year's primary beneficiaries were The Queensland Orchestra and local programs for charities DrugArm and Mission Australia. Boeing Australia Limited employees also raised $20,000 to buy play equipment and learning aids for two early-intervention centers for deaf and hearing-impaired children.

Withers said the company's employees have been the cornerstone in helping build Boeing Australia Limited into the successful aerospace company it is today. "I'm really proud of our fantastic Boeing team and all of those who have contributed in the past toward making our company a success now and into the future," he said.

Employees celebrated the 10-year milestone today by cutting a giant Boeing birthday cake at company headquarters.