Textron Financial Expands with New European Operation

Business Wire, Jan 17, 2008

PROVIDENCE, R.I. -- Textron Financial Corporation, a Textron Inc. (NYSE: TXT) company, today announced the expansion of its Distribution Finance Group into Europe with the opening of Textron Financial Limited based in Guildford, Surrey, United Kingdom. The company's new European operation will service all of Western Europe, providing inventory financing, also known as floorplan financing, to a variety of dealers in coordination with product manufacturers.

"Establishing operations in the United Kingdom brings Textron Financial closer to our current customers' international operations and to new customers who are interested in inventory financing," said Division President Dan Radley. "Our North American manufacturing partners are looking for a reliable and committed lender to provide floorplan financing to their dealers throughout Europe. We also are pursuing new customer relationships with highly competitive financing programs tailored to the needs of European business."

While Textron Inc. and many of its other subsidiary companies have conducted business in Europe for a number of years, this represents the European debut of Textron Financial's Distribution Finance Group, as well as the establishment of a new Textron Financial subsidiary.

"Our office is staffed with seasoned professionals who understand the European marketplace," said General Manager Jeff Graetz. "This is particularly critical as floorplan financing is still somewhat of a new concept in many parts of Europe. By financing 100% of the purchase price and setting flexible repayment terms for the dealer, this method offers many advantages over traditional factoring and other forms of asset-based lending."

Textron Financial's Distribution Finance Group finances the acquisition of consumer durable goods such as boats, recreational vehicles, computers and related technology, and consumer electronics and appliances, as well as commercial durable goods such as turf mowers, golf cars and industrial equipment.

About Textron Financial Corporation

Textron Financial Corporation, with its subsidiaries, is a diversified commercial finance company with more than $10 billion in managed receivables. It has core businesses in Aviation Finance, Asset-Based Lending, Distribution Finance, Golf Finance, Resort Finance, and Structured Capital. Textron Financial also provides financing programs for products manufactured by its parent company, Textron Inc. Additional information about the company is available at www.textronfinancial.com.

About Textron Inc.

Textron Inc. is an $11 billion multi-industry company operating in 32 countries with approximately 40,000 employees. The company leverages its global network of aircraft, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Fluid & Power, Textron Systems and Textron Financial Corporation. More information is available at www.textron.com.