Sir William Purves Joins Textron's International Advisory Council.

PROVIDENCE, R.I.--(BUSINESS WIRE)--Oct. 5, 1998--Textron Inc. today announced the appointment of Sir William Purves to the company's International Advisory Council (IAC), a distinguished group of ten business and political leaders from eight countries which provides advice and guidance on business, political and economic issues relevant to Textron and its global operations.

Sir William is the former chairman of HSBC Holdings plc, one of the world's largest banking and financial services organizations with nearly (pound)300 billion in assets and more than 5,500 offices in 81 countries.

"With his impressive background and extensive knowledge of international finance and the Far East, Sir William will bring an important perspective to our International Advisory Council," said Textron CEO Lewis B. Campbell. "The IAC has been extremely valuable as Textron has accelerated its global expansion. We look forward to Sir William's participation," he added.

Sir William joined The Hong Kong and Shanghai Banking Corporation in 1954 (now part of HSBC Group). He served in several key posts in Asia before being appointed chief executive of the bank in Hong Kong in 1986. Later that year, he was named chairman of HSBC Group. From 1986 to 1993, Sir William was a member of the Executive Council, Hong Kong's highest policy-making body. In 1991, he became chairman of the newly-created HSBC Holdings plc. On the transfer of HSBC Holdings to London in 1993, he ceased to be chairman and CEO of The Hong Kong and Shanghai Bank and became chairman of Midland Bank. In May 1998, he retired after 44 years service with the HSBC Group.

Before his career with HSBC, the Scottish-born Sir William received a commission in the King's Own Scottish Borderers in 1951 and he was awarded a Distinguished Service Order for his actions with UN forces in Korea. He was appointed a Commander of the Order of the British Empire in 1990, and was Knighted in 1993.

Sir William is a non-executive Director of Shell Transport and Trading Company, and of East Asiatic Company. He is also Deputy Chairman of Alstom a.s.

Other members of Textron's International Advisory Council include Richard R. Burt, former U.S. Ambassador to Germany and chairman of IEP Advisors Inc.; Jean Gandois, chairman of Cockerill Sambre S.A. and former president of the French National Council of Employers (CNPF) in France; Dr. Carl H. Hahn, chairman emeritus of the Board of Management of Volkswagen AG in Germany; Jeffrey L.S. Koo, chairman and CEO of Chinatrust Commercial Bank in Taiwan; Marcilio Marques Moreira, Brazil's former Minister of the Economy; Dr. Andrzej Olechowski, Poland's former Minister of Foreign Affairs and chairman of the Central European Trust Polska Limited; Sir Charles Powell, director of Jardine Matheson Holdings Limited in the UK; Ratan N. Tata, chairman of Tata Industries Limited in India; and Dr. Horst Teltschik, a member of the Board of Management of BMW AG in Germany.

Approximately 40 percent of Textron's revenues are derived from non-U.S. sources. Textron has operations in 23 countries, such as the United Kingdom, France, Germany, Italy, Switzerland and the Czech Republic. Since 1994, the company has acquired 15 companies in the U.K. and Europe. The company has recently taken steps to acquire two companies in the U.K. - Midland Industrial Plastics and David Brown plc. Textron currently employs more than 3,000 people in the U.K. and nearly 9,000 in Continental Europe.

Textron Inc. (NYSE:TXT) is a $10 billion, global, multi-industry company with market-leading operations in Aircraft, Automotive, Industrial and Finance.