Boeing to Discontinue Connexion by Boeing Service; Previously announced charge to earnings now expected to be up to $320 million; Earnings benefit of approximately $0.15 per share expected beginning in 2007.

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M2 PRESSWIRE-17 August 2006-BOEING: Boeing to Discontinue Connexion by Boeing Service; Previously announced charge to earnings now expected to be up to $320 million; Earnings benefit of approximately $0.15 per share expected beginning in 2007(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:17082006 CHICAGO - The Boeing Company [NYSE: BA] today announced that a detailed business and market analysis of Connexion by Boeing is complete, and the company has decided to exit the high-speed broadband communications connectivity markets.

Boeing will work with its customers to facilitate an orderly phase out of the Connexion by Boeing service. "Over the last six years, we have invested substantial time, resources and technology in Connexion by Boeing," said Boeing Chairman,...