Standard Aero Awarded Third Option Year for US Navy T56 Engine Maintenance

SAN ANTONIO, TX, February 2, 2006 – Standard Aero has been awarded a third, oneyear option with a total contract value of $84.7 million to provide Depot Level Repairs for the Navy’s T56 Series III engine modules. The T56 Series III engine powers the Navy’s fleet of P-3 Orion, C-130 Hercules, and C-2 Greyhound aircraft. Derivatives of this engine are also used on US Navy frigates. Standard Aero has over 45 years of experience in maintaining the Rolls-Royce Allison T56/501 family of engines and has relied on this experience to provide the US Navy with superior customer service and product quality.

Standard Aero was originally awarded the T56 contract in January 2004 with a total contract ceiling of $423.7 million. The contract is structured as an estimated $84.7 Million indefinite delivery/indefinite quantity one year contract, with four renewable one-year options.

“Standard Aero is pleased to continue to support the US Navy’s T56 fleet of engines. We were awarded this contract option as a result of our quality, responsiveness, and overall ability to meet the Navy’s cost-wise readiness needs, and have successfully delivered,” says Andres Gutierrez, Vice President, Marketing and Business Development. “This most recent contract extension is representative of the strong partnership between the US Navy, DCMA, and Standard Aero and we look forward to continuing this successful relationship,” continues Harinder Grewal, Vice President, Standard Aero (San Antonio), Inc.

Standard Aero is a world leader in providing aerospace MRO services. Standard performs repair and overhaul on General Electric, Rolls-Royce, Honeywell, and Pratt & Whitney Canada engines used in regional airline, business aviation, helicopter, and military/government markets. Standard Aero employs specialized MRO business process transformation practices to both internal operations and in various customer partnerships, resulting in more efficient and effective business performance. Standard Aero has over 2,600 employees around the world, achieved $793M in 2004 sales.