ACRO Aerospace Signs Agreement with GE for Support and Assembly of T700 Engines

November 11, 2002 – ACRO Aerospace Inc. (ACRO), a subsidiary of Vector Aerospace Corporation, has signed a Memorandum of Agreement with General Electric Canada Inc., GE Aircraft Engine Canada Division, and GEAE Technology Inc. for in-service support and licensed assembly of General Electric T700 aircraft engines. The agreement covers in service support of the T700 engines on the Canadian Forces’ CH149 Cormorant Search and Rescue helicopters and the licensed assembly and in service support for the T700 engines for the Canadian Forces’ upcoming Maritime Helicopter Program. Further, the agreement covers the licensing of ACRO for T700 engine repair and overhaul in twenty countries worldwide. There are over 7,500 T700 helicopter engines worldwide.

Charles McIvor, President of ACRO Aerospace Inc., stated, “This is a significant milestone in ACRO’s continuing growth in the helicopter engine support market. We are looking forward to continuing our close partnership with GE. Building on this license will enable us to achieve our goal of becoming the center of expertise for the T700 engine in Canada.”