BE Aerospace Completes Acquisition of Puritan-Bennett Aero Systems, Increases Bank Credit Facility To $200 Million.

WELLINGTON, Fla.--(BUSINESS WIRE)--April 14, 1998--B/E Aerospace, Inc. (Nasdaq-NMS:BEAV) announced today that it had completed the acquisition of Puritan-Bennett Aero Systems (PBASCO), a wholly owned subsidiary of Nellcor Puritan Bennett Inc. The purchase price as previously announced was $69.7 million, all in cash. PBASCO, which is headquarter in Lenexa, Kansas, is the leading manufacturer of commercial aircraft oxygen delivery systems and passenger service unit components and systems (PSU) and is a major supplier of air valves, overhead lights and switches for both commercial and general aviation aircraft.

Separately, the company announced that it had amended its existing credit facilities with The Chase Manhattan Bank by increasing the aggregate principal amount that may be borrowed to $200 million. The amended Bank Credit Facility consists of a $100 million acquisition term loan, amortizable over five years beginning in April 1999 and a $100 million working capital Revolving Facility, which expires in April 2004. The Bank Credit Facility contains covenants and conditions of borrowing which are usual and customary to such bank credit facilities.

B/E Chairman Amin J. Khoury stated, "We are very pleased with the financial community's positive response to our acquisition of Puritan-Bennett Aero Systems. We look forward to demonstrating the acquisition benefits to our airline customers, to the general aviation OEMs, to business jet owners and to our shareholders."

B/E Aerospace, Inc. designs, manufactures, sells and services a broad line of commercial aircraft and general aviation cabin interior products, include seating products, passenger entertainment and service systems, a full line of passenger and crew oxygen equipment, passenger service systems and components and a complete line of cabinetry and food and beverage preparation and storage equipment. B/E Aerospace is the world's leading supplier of cabin interior products and services, serving virtually all the world's airlines, aircraft manufacturers and business jet owners. -0- This press release contains forward-looking statements that involve risks and uncertainties that may cause the company's actual experience to differ materially from that anticipated. Factors that might cause such a difference include, but are not limited to, those discussed in the company's filings with the Securities and Exchange Commission, including its most recent Form 10-Q, proxy statement and Form 10-K, and in "Risk Factors" in its Form S-4 filed on March 9, 1998 relating to the company's recent senior subordinated notes offering, as well as future events that have the effect of reducing the company's available cash balances, such as unexpected operating losses or delays in the integration of the company's seating business or the delivery of the MDDS interactive video system or capital expenditures or cash expenditures related to possible future acquisitions.

CONTACT: Jay Jacobson

Financial Relations

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