Actuation Systems Unit to be Sold

British Aerospace PLC 22 February 2000 BAE SYSTEMS NORTH AMERICA TO SELL ACTUATION SYSTEMS UNIT TO SMITHS INDUSTRIES BAE SYSTEMS North America announced today that it has signed a definitive agreement to sell its Marconi Actuation Systems Inc subsidiary to Smiths Industries Aerospace for the price of $100 million. Quarterdeck Investment Partners, Inc acted as financial advisor to BAE SYSTEMS North America. Completion of the sale is subject to regulatory approval in the United States. Actuation Systems, located in Whippany, N.J., designs, engineers, and services various electromechanical motion-control systems for commercial and military aircraft. The decision to sell the business was made primarily because the motion-control business lies outside of BAE SYSTEMS North America's strategic focus and core competencies of electronics, information technology, and systems engineering and integration. Smiths Industries Aerospace is a world leader in the development of advanced aerospace electronics and a first-tier supplier of systems to the major aircraft manufacturers, the UK Ministry of Defence and the Department of Defense. BAE SYSTEMS North America headquartered in Rockville, Maryland is a leading defense, aerospace and information technology company. With annual sales in excess of $2.5 billion, BAE SYSTEMS North America employs over 18,000 people in the U.S. and Canada. Issued by: British Aerospace plc Farnborough, Hants, UK

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