Mr. Haydn Martin reports

MAGELLAN AEROSPACE SIGNS AGREEMENT WITH THE BOEING COMPANY FOR EXHAUST SYSTEMS

Magellan Aerospace Corp. has signed a contract extension with The Boeing Company to manufacture large and complex nacelle exhaust systems for the 767 program. The fabricated metallic assemblies will be produced and delivered from Magellan's facility in Middletown, Ohio.

The continuation of this agreement with Boeing will ensure the supply of Magellan's acoustic plug and nozzle exhaust assemblies for the 767 program. Magellan utilizes internally manufactured metallic honeycomb in the production process. The metallic honeycomb is manufactured utilizing materials suitable for higher temperatures and offers advantages in weight savings and acoustic attenuation.

"We have developed a great working relationship over the past 40 years and look forward to continuing to support this foundational program at our Middletown operation," said Haydn Martin, vice-president, business development, marketing and contracts, at Magellan.

Magellan has decades of expertise in the design, manufacture and certification of nacelle exhaust systems. This experience is demonstrated by a lineage of programs where Magellan has collaborated with commercial customers to supply unique exhaust systems for engines on different aircraft platforms. Magellan's Middletown facility has been a continuous supplier for Boeing for 70 years.

About Magellan Aerospace Corp.

Magellan Aerospace is a global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers and defence and space agencies around the world. Magellan designs and manufactures aeroengine and aerostructure assemblies and components for aerospace markets as well as advanced proprietary products for military and space markets and provides engine and component repair and overhaul services around the world. Magellan is a public company whose shares trade on the Toronto Stock Exchange, with operating units throughout North America, Europe and India.

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