Boeing

KUWAIT CITY, April 30, 2008 -- The Boeing Company [NYSE: BA] and the Australian College of Kuwait have completed a joint vocational training project, satisfying an offset requirement of Kuwait's purchase of 16 AH-64D Apache Longbow helicopters in 2002. The National Offset Company (NOC) and the Kuwait Ministry of Finance announced the milestone Tuesday in Kuwait.

"The Australian College of Kuwait Board of Trustees is delighted to see the project with Boeing completed on time and within budget," said Chairman Abdullah Al Sharhan. "The specialized aviation and avionics equipment, and the transfer of aerospace technology, will ensure that students at the college are exposed to practical, hands-on vocational training of world-class standards. Our students are benefiting enormously from this significant development and will continue to benefit for many years to come."

Through the offset commitment, Boeing provided technical management and aerospace expertise, including the provisioning, installation and commissioning of specialized aviation and engineering equipment, training, and advanced technology transfer to the school.

The specialized equipment includes a 737-200 airplane that will be used as a training platform for aviation maintenance programs; hydraulic, pneumatic and fuel test stands; vertical and knee milling machines; avionic test benches; electrical and hydraulic carts; lathes, grinders, welders and other general equipment. The project also included the construction of an aviation hangar with workshops and training rooms.

"The Australian College of Kuwait has an outstanding purpose-built campus in Mishref offering state-of-the-art training aids and facilities," said Darrell Duncan, Boeing Middle East Region offset manager. "The provision of this equipment and know-how contributes to providing students with the key skills necessary to meet today's commercial and industry demands."

Boeing and the Australian College of Kuwait extend their thanks to the NOC, the Ministry of Finance and the Ministry of Defense. The successful completion of the project is the result of more than two years of implementation.

"We offer our sincere thanks to Mazen Madooh, managing director of NOC, and his staff for their ongoing support throughout this important project," said Gwen Kopsie, Boeing Integrated Defense Systems vice president of Industrial Participation and Alliances. "Boeing representatives will continue to visit the Australian College of Kuwait campus, enabling staff and students to benefit from their international aviation expertise."

The offset project is an excellent example of how international companies can meet the objectives of the offset program by committing capital, equipment and technology transfer to the education and training sectors.

The Australian College of Kuwait is owned by the Kuwait-based AMAS Group of Companies.