AgustaWestland Forms Portuguese Subsidiary

And Signs AW101 Support Contract (August 4, 2008) -- AgustaWestland is pleased to announce the setting up of a subsidiary company in Portugal, called AgustaWestland Portugal, to provide complete helicopter support services. AgustaWestland has also signed a contract with Locacao de Equipamentos de Defesa SA (DEFLOC) for the long term provision of support for the 12 AW101 helicopters operated by the Portuguese Air Force. The Full In Service Support (FISS) contract will see AgustaWestland take full responsibility for the second level maintenance of the aircraft as well as the provision of spares, repairs and technical support services. The first five years of the 15 year contract is valued at approximately EUR53 million and will result in AgustaWestland Portugal working closely with the Portuguese Air Force and local industry to deliver the FISS. In addition to the FISS contract AgustaWestland has signed an offset contract that includes aerospace manufacturing and engineering services in which AgustaWestland Portugal will play a major role as will other local companies including OGMA, which will be a major subcontractor to AgustaWestland Portugal. Giuseppe Orsi, CEO, AgustaWestland said "We are delighted to have signed these important agreements. This achievement is evidence of our long term commitment in Portugal and our efforts to get closer and closer to our customers to enhance their operational effectiveness providing the best support solutions as a total capability provider. Furthermore, this contract expands AgustaWestland's presence in an important market where we see significant business opportunities in the future".

Source: AgustaWestland
Date: Aug 5, 2008