Vought Awarded USAF Contract for Additional C-5 Galaxy Structural Components

DALLAS, JULY 29, 2004 -- Vought Aircraft Industries, Inc. announced today that it is being awarded a contract with a potential value of $471 million for the manufacture of 128 wing and fuselage components for the C-5 Galaxy aircraft. This Indefinite Delivery/Indefinite Quantity (ID/IQ) contract was awarded by the U.S. Air Force Warner Robins Air Logistics Center (WR-ALC) to support the plan of operating the C-5 through 2040.

Assembly work under this contract will be conducted at Vought's facility in Dallas. The contract includes the fabrication of new tooling to manufacture inboard slats (leading edge flaps), ailerons, forward main landing gear fairings, flap torque boxes and an assortment of wing panels, structural supports, fairings, leading and trailing edges and fire compartment shields. The quantity of items produced will depend upon WR-ALC depot maintenance requirements and will vary from year to year. Engineering and manufacturing will begin immediately, with initial deliveries scheduled for early 2005. Subsequent orders will extend production deliveries through 2013, if the government exercises all its delivery options.

"This award complements our existing C-5 Galaxy flight control surfaces contract and exemplifies the quality of work the government has come to expect from Vought," said Tom Risley, Vought's president and chief executive officer. In September 2002, Vought received its first ID/IQ contract from WR-ALC for manufacturing new flight control surfaces for the C-5 modernization program.

The C-5 Galaxy is a heavy cargo transport designed to provide massive strategic airlift, for deployment and supply of combat and support forces. The C-5, in operation since 1970, can carry unusually large and heavy cargo for intercontinental ranges at jet speeds. According to a recent C-5 study, the aircraft could be in service another 25 years.

About Vought:

Vought Aircraft Industries, Inc. (www.voughtaircraft.com) is one of the world's largest independent suppliers of aerostructures. Headquartered in Dallas, the company designs and manufactures major airframe structures such as wings, fuselage subassemblies, empennages, nacelles and other components for prime manufacturers of aircraft. Vought has annual sales of approximately $1.2 billion and more than 6,000 employees in seven U.S. locations.

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Lynne M. Warne
(615) 974-6003