Textron Named FORTUNE Magazine’s Most Admired Aerospace & Defense Company in 2008

Textron Inc. (NYSE: TXT) announced today that it has been ranked number one on FORTUNE magazine’s list of America’s Most Admired Companies in the Aerospace & Defense category, up six spots from its number seven ranking last year. This is Textron’s fifteenth consecutive year to be ranked in the list of FORTUNE’s Most Admired Companies.

“Textron is honored to be recognized as number one among such worthy peers in FORTUNE’s Most Admired Aerospace & Defense category,” said Textron Chairman, President and CEO Lewis B. Campbell. “Earning this type of recognition is a tribute, first and foremost, to the talented people across Textron, whose dedication, commitment and desire to perform for their customers and for their business is nothing short of passionate.”

FORTUNE and its research partner, the Hay Group, surveyed executives, directors and members of the financial community to rate companies from within their own industries based on specific criteria to develop the rankings. The magazine uses a rigorous assessment to determine a company’s overall reputation. A total of 622 companies in 65 industries were surveyed. Textron ranked first in five of the eight key attributes of reputation, which include innovation (3), people management (1), use of corporate assets (1), social responsibility (1), quality of management (1), financial soundness (2), long-term investment (1) and quality of products and services (3).