Cessna Aircraft Company Assumes 75% Ownership of CitationShares; TAG Aviation Retains 25% Stake

Business Wire, July 22, 2004

GREENWICH, Conn. -- CitationShares, the fastest growing fractional jet company, announced today that TAG Aviation USA, Inc. has sold one-half of its ownership interest in CitationShares Holding, L.L.C. to Cessna Aircraft Company, a subsidiary of Textron Inc. (NYSE: TXT). As a result, Cessna will assume 75% ownership of CitationShares, with TAG retaining a 25% stake. Previously, CitationShares was equally owned by Cessna and TAG.

The ownership change enabled CitationShares to obtain the necessary air carrier certificate required by the Federal Aviation Administration in preparation for the recently launched Vector(TM) JetCard program. Terms of the sale agreement were not disclosed.

"Cessna and TAG are great owners and terrific business partners, and we look forward to continuing our relationship with both of them under this new corporate structure," said Steve O'Neill, CitationShares chief executive officer. "Cessna's superb aircraft and product support, combined with TAG's client-driven aviation services expertise, gives us an unparalleled presence in our industry."

The Vector JetCard program enables individuals and companies to pre-pay for 25 hours of private flight time on CitationShares-operated aircraft. The program is innovative and simple - a two-page contract; payment by credit card, check or wire transfer; and one upfront, all-inclusive fee. No international fees, fuel surcharges or landing fees apply. In addition, pricing for the program is among the most competitive in the industry, starting at $84,995.*

About CitationShares

Based in Greenwich, CT, CitationShares offers individuals and businesses the opportunity to experience the advantages of private travel by becoming fractional aircraft owners or Vector JetCard members. As noted above, CitationShares is owned by Cessna Aircraft Company and TAG Aviation USA, Inc. For more information about CitationShares and its offerings, contact 800-340-7767 or visit www.citationshares.com.

About Cessna Aircraft Company

Cessna Aircraft Company is a subsidiary of Textron Inc. (NYSE: TXT), a $10 billion multi-industry company with 43,000 employees in 40 countries. In addition to a 75-year heritage of outstanding product support, Cessna provides its Citation aircraft to the CitationShares fleet. Cessna Citations are among the most popular and preferred business jets, flown by more companies and individuals than any other light or midsize business jet. For more information about Cessna Aircraft Company, visit www.cessna.com.

About TAG Aviation USA, Inc.

TAG Aviation USA, Inc. and associated companies are leaders in the delivery of personal air transportation support services, embracing the highest standards of safety, security, customer service and operational excellence. The company provides aircraft management, consulting, acquisition and sales, and TAG-On-Call maintenance services. For more information about TAG Aviation USA, Inc., visit www.tagaviation.com.

* Assuming 25 hours of transportation in the domestic U.S. (which includes transportation 225 miles outside of the Canadian and Mexican borders), total price is $91,370, including Federal Excise Tax. Total price is $84,995 for 25 hours of international transportation. Actual total price is based on the actual number of hours flown domestically and/or internationally. All Vector JetCard flights operated by CitationShares under its FAR Part 135 Air Carrier Certificate.