GE and Safran Appoint Steve Walters as President Of Their Engine Nacelle Joint Venture

Paris, June 14, 2009

GE and Safran today announced the appointment of Steve Walters as the president of their Middle River Aircraft Systems/Aircelle joint venture, which will cooperatively develop, produce and support nacelles for future applications of CFM International engines on next-generation commercial airliners.

Walters is to be located at the Cincinnati, Ohio headquarters of the organization – which will be operated on a 50/50 basis by the Middle River Aircraft Systems subsidiary of GE and Safran's Aircelle subsidiary.

"This is an exciting time for the joint venture, as airlines are seeking more efficient and more environmentally-friendly solutions for the next generation of airliners," said Walters. "We're finding excellent synergies between Aircelle and Middle River Aircraft Systems, and are working on programs that will improve aircraft performance, while also reducing weight and noise levels."

The nacelle joint venture – which was announced last year by GE and Safran – covers complete nacelles and nacelle subsystems, providing highly competitive and innovative solutions based on the expertise and resources of Aircelle and Middle River Aircraft Systems. The organization builds on GE's and Safran's more than 35 years of joint venture experience.

Walters has worked in various engineering and leadership roles with the majority of his career with GE, including two of his most recent roles as director of Business Operations for the CFM56 engine program and the airfoils business Quality and Compliance leader for GE Aviation. He attended the Ohio State University and graduated with a bachelor's degree in aerospace engineering in 1989.

Aircelle is a leading player in the worldwide nacelle market for aircraft engines. A member of the Safran group, it employs approximately 3,000 persons at seven sites in France, the United Kingdom and Morocco. Aircelle is the only nacelle manufacturer in the world present on all market segments, from business and regional aircraft to the largest airliners, including the A380.

Middle River Aircraft Systems is one of the world's leading suppliers of jet engine thrust reversers and nacelle systems. The company also produces a variety of specialized structures for major aircraft manufacturers, including Boeing and Lockheed Martin, for commercial and military aircraft. Middle River employs a workforce of 1,000 employees at its Baltimore, Maryland site. In addition to design and manufacturing, Middle River Aircraft Systems provides technical support and spares services for a variety of aero-structures.

Together, Middle River Aircraft Systems and Aircelle have extensive capabilities in all aspects of nacelles, from engine inlet to exhaust nozzle – including thrust reversers, fan cowls, acoustic treatment, thermal protection and anti-icing, engine pylons and mounts.

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About GE Aviation: :
GE Aviation, an operating unit of General Electric Company (NYSE: GE), is a world-leading provider of jet engines, components and integrated systems for commercial and military aircraft. GE has a global service network to support these offerings.

About Safran: :
Safran is an international high-technology group with leadership positions in its core businesses of aerospace propulsion, aircraft equipment, and defense security. The SAFRAN Group employs about 54,000 people in over 30 countries and generates revenue of more than €10 billion. It comprises many companies with prestigious brand names and holds, alone or in partnership, global or European leadership positions in its markets. SAFRAN is listed on NYSE Euronext Paris and its share is included in the SBF 120 and Euronext 100 indices.

Aircelle | Frédérique Thomas | Telephone : +33 1 30 07 90 14 | Portable : +33 6 74 83 67 35 | e-mail : frederique.thomas@aircelle.com

GE Aviation | Jennifer Villarreal | Telephone : +1 616 241 8643 | Portable : +1 616 617 7755 | e-mail : jennifer.villarreal3@ge.com