Vector Aerospace announces new contract with Boeing

For Immediate Release
September 24, 2009

Toronto, Canada - Vector Aerospace Helicopter Services - Fleetlands (www.vectoraerospace.com) has been awarded an initial contract by Boeing to carry out major modification packages on UK MoD Chinook helicopters.

The work is part of the MoD’s investment in Chinook helicopters to enable them to operate more effectively in Afghanistan and bring the entire fleet to a common configuration standard. Work will begin at Fleetlands before the end of this year.

The modification programme involves the integration of a new ‘glass cockpit’ into the Chinook aircraft which together with an engine upgrade and existing work to upgrade other onboard systems will provide an increase in the capability of the aircraft. The initial contract value is approximately $10M CDN and Vector is the preferred supplier for the remaining aircraft in the MoD fleet. Terms are agreed with Boeing for the first tranche of aircraft Contract award for the follow on aircraft is expected in 2010 with an estimated aggregate value of $40 to $50M CDN, over a multi-year term, for full fleet embodiment.

Vector UK Managing Director Tim Rice said, “This win is another significant milestone for our UK operations, which provide helicopter, component and engine services to a growing customer base. Our relationships with the platform manufacturers, MoD, and the Service customer are our number one priority and we believe this is playing a major role in our success to date.”

Declan O’Shea, President and Chief Executive Officer of Vector, said: "We are delighted to deepen our long-term partnership with Boeing in the development of the Chinook European Centre of Excellence at our Fleetlands facility. Our primary objective continues to be the support of the MoD and the safety of its Service men and women.”

Vector Aerospace Corporation is an independent provider of aviation repairs and overhaul services. Through facilities in Canada, the United States, the United Kingdom and Africa, Vector provides services to commercial and military customers for various types of gas turbine engines, components and helicopter airframes. It also provides information technology solutions to an international customer base. The Company has approximately 2,500 employees.

-30-

For information please contact:

Dave McGrath, Director - Marketing & Communications
Vector Aerospace Corporation
Tel: 604-276-7685

Balkiz Sarihan, VP - Strategic Marketing & Development
Vector Aerospace Corporation
Tel: 416.640.2126

Notes to Editors

Located in Fleetlands, Gosport, Vector Aerospace Helicopter Services – UK services the Boeing Chinook and AgustaWestland Sea King and Lynx helicopter platforms. Vector has been providing support services to the MoD for over 60 years with more than 27 years of support on the Chinook fleet at its Fleetlands facility.

Vector Aerospace Corporation is an industry-leading, independent provider of maintenance, repair and overhaul (MRO) services for fixed-wing and rotary-wing aircraft operators around the globe. Vector’s service portfolio includes support for various types of engines, dynamic components, structures and avionics.

From state-of-the-art facilities in Canada, the United States, the United Kingdom and Africa, Vector’s employees serve a global customer base consisting of private and commercial operators, government agencies and defence departments.

Vector holds approvals from some of the world’s leading OEMs including: AgustaWestland, Bell Helicopters, Boeing, Eurocopter, General Electric, Pratt & Whitney Canada, Rockwell-Collins, Rolls Royce, Sagem Avionics, Sikorsky, Turbomeca and many other manufacturers and suppliers.