Australia Government Seeks Discussion With Kaman to Conclude SH-2G(A) Super Seasprite Helicopter Program

March 04, 2008

BLOOMFIELD, Conn.--March 4-- Kaman Corp. (Nasdaq: KAMN) said that it has been notified by the recently elected government of the Commonwealth of Australia that it wishes to initiate a negotiation with Kaman to end the Super Seasprite program on mutually agreed terms.

Responding to this overture, Neal J. Keating, chairman, president and chief executive officer of Kaman Corp., said, "We have received a communication from the Commonwealth that we are reviewing at this time with the expectation that we will enter a constructive process with the Commonwealth in order to arrive at a mutually agreeable conclusion to the Seasprite program. Although we have created a highly capable aircraft for the Royal Australian Navy and continue to fulfill our obligations to the Commonwealth under our contract, we appreciate the thoughtful approach and time invested by the current Government in addressing our program and we will work with them toward arriving at a satisfactory arrangement. "

About Kaman Corporation
Kaman Corp. conducts business in the aerospace and industrial distribution markets.

 

Kaman Corporation – U.S.
Russell H. Jones
SVP, Chief Investment Officer & Treasurer
+1-860-243-6307
russell.jones@kaman.com

or

Kaman Helicopters Division
Sal Bordonaro
President
+1-860-573-6289
sal.bordonaro@kaman.com

or

Kaman Corporation – Sydney
Stever Rutter
SH-2G(A) Program Manager
+1-860-573-6289
steve.rutter@kaman.com

or

Hill & Knowlton Australia (for Kaman)
Jacquelynne Willcox
Director, Public Affairs
+61 419833649
jwillcox@hillandknowlton.com.au

Louise Allen
Senior Executive
+61-2-9286-1205
+61-411-029-693
lallen@hillandknowlton.com.au