May 12, 2003

News Release: New Orders, Valued at $160 million ($Cdn), to Magellan Aerospace for Airbus A380 Exhaust Nozzles

Magellan Aerospace Corporation announced today that it was selected by Hurel-Hispano as the manufacturer of exhaust nozzles for the Rolls-Royce and Engine Alliance engines offered on the Airbus A380 aircraft. The contract, valued at $160 million dollars ($Cdn), will be carried out in Magellan facilities in Canada and the U.S. with deliveries beginning in 2003.

The nozzles are an assembly of formed titanium sheet metal requiring precise management of complex processes for exotic materials. A leader in exhaust system design and manufacture, Magellan is well known for its brazed honeycomb technology used in areas subjected to high heat and vibration. Magellan also manufactures a similar exhaust system for the Airbus A340 Trent 500 engine. The A380 aircraft has a capacity of 555 passengers in three classes over a range of up to 8,000nm/14,800km. Larger and longer-range members of the family are anticipated in the basic design concept. The A380 introduces competition to the large aircraft sector, completing the Airbus product portfolio with an aircraft that allows growth and reduced congestion at today's airports. Designed in close collaboration with major airlines, airport, and airworthiness authorities, the A380 sets new standards of comfort, economies, and environmental responsibility. The A380 can be powered by Trent 900 engines from Rolls-Royce or GP7200 engines from The Engine Alliance (a joint venture between General Electric and Pratt &Whitney).

Hurel-Hispano is recognized as a world leader in the development, design and production of nacelle/thrust reverser systems, aero-structures, and jet engine composite parts. The company provides a broad range of products and services, including components for medium and long-range commercial aircraft, business jets, regional aircraft and helicopters. Hurel-Hispano, a SNECMA Groupe Company, has design and manufacturing facilities in Le Havre, Toulouse, and Meudon, France, and Burnley, UK.

Magellan Aerospace Corporation is one of the world's most integrated and comprehensive aerospace industry suppliers. Magellan designs, engineers, and manufactures aeroengine and aerostructure components for aerospace markets, advanced products for military and space markets, and complementary specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout the United States and Canada.

For further information: W.A. (Bill) Matthews, Vice President Marketing, Tel: (905) 677-1889 ext. 222, Fax: (905) 677-5658

WEBSITE This email address is being protected from spambots. You need JavaScript enabled to view it.