Boeing, Mitsubishi Electric Announce Strategic Alliance.

Business Editors

PARIS--(BUSINESS WIRE)--June 20, 2001

Boeing (NYSE:BA) and Mitsubishi Electric  Corp. (MELCO) officials announce their desire to further broaden the cooperation between the two companies by signing an agreement that includes space-based communications, air traffic management, multimedia, navigation, space and communications services, launch services and space infrastructure markets.

In the launch services segment, the agreement includes up to six Boeing Delta launches and names the Boeing Delta team as MELCO's preferred non-Japanese launch service provider.

"The success we've had in an extremely competitive market is a testament to the work our team has done to prepare the Delta IV for operation next year," said Gale Schluter, vice president and general manager of Boeing Expendable Launch Systems.

The agreement includes one firm Delta IV launch service order, up to five launches options and extends from 2002 to 2007.

The new agreement is indicative of the partnerships the Delta IV program has been forging in the global marketplace.

"Over the past five years, Boeing has established a great working relationship with MELCO which has been evident in key programs such as Connexion by Boeing(SM), the long term relationship with Boeing Satellite Systems, and other space related activities," said Dr. Hiroshi Kimura, general manager, Space Systems Division of MELCO. "As a result of our partnership, we have been able to enter into this launch service agreement and announce the Delta Launch Services team as our preferred non-Japanese launch service provider."

"By bringing an affordable service to our customers, we've been able to develop long term partnerships with many of the world's leading communications companies including MELCO," Schluter said. "And because we've matched our vehicle's capabilities, costs and services to market needs, we are penetrating markets that we have not been able to address in the past."

The Delta IV family includes five variants capable of lifting 4,000 kg to 13,000 kg to geostationary transfer orbit. The vehicles are capable of launching single, dual or multiple satellites in either 4-meter or 5-meter payload accommodations.

Subject to approval from both companies, the new launch service agreement is expected to be finalized later this year.

The Boeing Company, with headquarters in Seattle, is the largest aerospace company in the world and the United States' leading exporter. It is the world's largest manufacturer of commercial jetliners and military aircraft, and the largest NASA contractor. The company's capabilities in aerospace also include rotorcraft, electronic and defense systems, missiles, rocket engines, launch vehicles, and advanced information and communication systems. The company has an extensive global reach with customers in 145 countries and manufacturing operations throughout the United States, Canada and Australia.