Risley to Retire from Vought Aircraft Industries

BAE Systems Executive Named as Successor

DALLAS, JAN. 5, 2006 – Tom Risley, chairman, president and chief executive officer of Vought Aircraft Industries, announced his retirement yesterday after nearly 38 years of service with the company. Risley’s retirement is effective Feb. 28.

Vought’s board of directors has appointed Elmer Doty as president and CEO of Vought, effective Feb. 1. He also will serve as a director on the company’s board.

Doty currently serves as vice president and general manager of BAE Systems’ Ground Systems Division, a position he has held since July 2005, when BAE acquired United Defense Inc. Doty had served in a substantially comparable position with UDI since April 2001, and prior to that, had served in other senior executive positions with UDI.

Doty earned a bachelor’s degree in nuclear engineering and a master’s degree in mechanical engineering from the University of Missouri-Rolla.

Risley, 55, was appointed president and CEO of Vought in January 2002. He began his career in 1968 with the aerospace and defense operations of The LTV Corporation, a predecessor organization of Vought. He has held increasingly responsible assignments in engineering administration, financial management and program operations on a number of military and commercial programs. Prior to being named CEO, he was Vought’s chief operating officer.

In his announcement yesterday to the Vought workforce, Risley said, “We have had many successes, wins and unique challenges over the last three years. Our path forward as a company remains challenging, but in the end, it will be the employees who make this endeavor successful.”

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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Contact:

Lynne M. Warne
(615) 974-6003
lwarne@triumphgroup.com