Cessna's Citation CJ2+ Takes First Flight; Company Marks Major Milestones for New Aircraft

WICHITA, Kan.--(BUSINESS WIRE)--April 4, 2005--Cessna Aircraft Company, a subsidiary of Textron Inc. (NYSE: TXT), marked a major milestone for its new Citation CJ2+ as the company celebrated the aircraft's first flight on Saturday, April 2, 2005. Piloted by Cessna Engineering Test Pilots Don Alexander and Jon Cooper, the conformed CJ2+ prototype took to the air from Mid-Continent Airport at 10:03 AM (CST). During the two-hour and six-minute test flight, the pilots flew an aggressive flight profile to test basic stability, flap and landing gear extension and retraction, controllability, trim actuation, engine operating characteristics and basic autopilot operation.

"Compared to the CJ2, the CJ2+ offers customers enhanced performance and the most advanced avionics suite for this class of airplane," said Cessna's Chairman, President and CEO Jack J. Pelton. "Orders for the CJ2+ have been strong, and we're confident they'll continue to increase as we near certification."

“The Citation CJ2+ first flight was a great success”

"The Citation CJ2+ first flight was a great success," said Norm Baker, Citation CJ1+ and CJ2+ program manager. "The CJ2+ team did an exceptional job building this airplane, and they should be very proud. This is the first major step towards obtaining CJ2+ certification and delivering the first airplane."

The Citation CJ2+ will be manufactured on the production line where Cessna is currently manufacturing the Citation CJ1, CJ2 and CJ3. This consolidation of production lines is enabled by Cessna's lean manufacturing advancements, whereby Cessna can build a CJ1+, CJ2+, or CJ3 airframe on the same advanced module tooling. This lean technology allows Cessna to adjust Citation CJ1+, CJ2+ and CJ3 production rates more efficiently, and deliver airplanes to customers with shorter lead times.

Cessna anticipates certification for the Citation CJ2+ in the fourth quarter of this year, and first customer deliveries in the second quarter of 2006. The next Citation CJ2+ available for sale will be delivered in the second quarter of 2007.

The Citation CJ2+ was announced at the 2004 National Business Aviation Association (NBAA), and is the successor to the Citation CJ2. It is powered by Williams' FJ44-3A-24 dual-channel FADEC engine, which offer the advantage of better thrust specific fuel consumption and FADECS compared to the CJ2's current engine. The Citation CJ2+ is equipped with the Collins Pro Line 21 avionics suite. It is designated as a model 525A, and will serve single pilot operators.

Cessna Aircraft Company is a subsidiary of Textron Inc. Textron is a $10 billion multi-industry company with more than 44,000 employees in 40 countries. The company leverages its global network of aircraft, 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, Jacobsen, Kautex, Lycoming, E-Z-GO and Greenlee, among others. More information is available at www.textron.com. More information about Cessna Aircraft Company is available at www.cessna.com.

For additional information or questions about the general aviation industry, contact the General Aviation Manufacturers Association (GAMA) at 202-393-1500 or www.GAMA.aero.

Forward-looking Information: Certain statements in this report and other oral and written statements made by Textron from time to time are forward-looking statements, including those that discuss strategies, goals, outlook or other non-historical matters; or project revenues, income, returns or other financial measures. These forward-looking statements 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 the following: (a) the extent to which Textron is able to achieve savings from its restructuring plans; (b) uncertainty in estimating the amount and timing of restructuring charges and related costs; (c) changes in worldwide economic and political conditions that impact interest and foreign exchange rates; (d) the occurrence of work stoppages and strikes at key facilities of Textron or Textron's customers or suppliers; (e) Textron's ability to perform as anticipated and to control costs under contracts with the U.S. Government; (f) the U.S. Government's ability to unilaterally modify or terminate its contracts with Textron for the Government's convenience or for Textron's failure to perform, to change applicable procurement and accounting policies, and, under certain circumstances, to suspend or debar Textron as a contractor eligible to receive future contract awards; (g) changes in national or international funding priorities and government policies on the export and import of military and commercial products; (h) the adequacy of cost estimates for various customer care programs including servicing warranties; (i) the ability to control costs and successful implementation of various cost reduction programs; (j) the timing of certifications of new aircraft products; (k) the occurrence of slowdowns or downturns in customer markets in which Textron products are sold or supplied or where Textron Financial offers financing; (l) changes in aircraft delivery schedules or cancellation of orders; (m) the impact of changes in tax legislation; (n) the extent to which Textron is able to pass raw material price increases through to customers or offset such price increases by reducing other costs; (o)Textron's ability to offset, through cost reductions, pricing pressure brought by original equipment manufacturer customers; (p) Textron's ability to realize full value of receivables and investments in securities; (q) the availability and cost of insurance; (r) increases in pension expenses related to lower than expected asset performance or changes in discount rates; (s) Textron Financial's ability to maintain portfolio credit quality; (t) Textron Financial's access to debt financing at competitive rates; (u) uncertainty in estimating contingent liabilities and establishing reserves to address such contingencies; (v) performance of acquisitions; and (w) the efficacy of research and development investments to develop new products.