Textron Financial Promotes Robert Wagner to President of Asset Based Lending Business

Alpharetta, GA – June 9, 2008 — Textron Financial Corporation, a Textron Inc. (NYSE: TXT) company, announces that Robert Wagner has been promoted to president of its asset based lending business, which provides asset based lending and factoring products and services to a variety of industries. Wagner will lead the Business Credit and Commercial Finance divisions, as well as Finance Company Services and Healthcare Finance. He will provide executive leadership and strategic direction to support the continued growth of this business as well as lead expansion into new markets. He continues to report to Jerry Britton, president of the Revolving Credit Group, and to serve on the company's Executive Committee.

"Robert is an experienced leader with a keen focus on anticipating and meeting the needs of our customers," said Jay Carter, Textron Financial president and chief operating officer. "Under his direction, we will continue to develop our asset based lending business, pursuing opportunities to grow and expand."

Wagner has held positions of increasing responsibility since joining Textron Financial in 2004. Most recently, he served as senior vice president and general manager of both the Commercial Finance Division and Healthcare Finance. Prior to being named general manager, Wagner held sales management roles in the Commercial Finance Division and the Distribution Finance Group. He was a member of Textron Financial's Champion's Club in recognition for his outstanding sales performance. In addition, he was a recipient of the 2005 Textron Chairman's Award for Innovation, the company's highest internal recognition for breakthrough ideas, products, services and processes.

Before joining Textron Financial, Wagner held senior level positions with GE Capital, Conseco Finance, and Deutsche Financial. He is an active member of the Commercial Finance Association, the Turnaround Management Association, and the International Factoring Association. He earned a BS in Economics from UCLA and is a certified Six Sigma Green Belt.

About Textron Financial

Textron Financial is a diversified commercial finance company with more than $11 billion in managed receivables. It has core businesses in Aviation Finance, Asset-Based Lending, Distribution Finance, Golf Finance, Resort Finance, and Structured Capital. Textron Financial also provides financing programs for products manufactured by its parent company, Textron Inc. Additional information about the company is available at www.textronfinancial.com

About Textron Inc.

Textron Inc. is a $13.2 billion multi-industry company operating in 34 countries with approximately 44,000 employees. The company leverages its global network of aircraft, defense and intelligence, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Fluid & Power, Textron Systems and Textron Financial Corporation. More information is available at www.textron.com.