WASHINGTON December 5, 2002 - The Boeing Company has reached agreement with AAR Composites of Clearwater on a $19 million contract to provide a key component for a major new initiative to modernization the aerial-refueling tanker fleets for the United States Air Force and international customers, U.S. Rep. C. W. Bill Young announced Thursday.

"The expansion and modernization of our nation's tanker fleet is a key part of our effort to upgrade the readiness and reach of our armed forces," said Young, the Chairman of the House Committee on Appropriations. "This project was a major initiative of our Committee, working with the Air Force and Secretary James Roche, last year because we recognize that our current fleet of tankers is aging and insufficient to meet the new mission requirements of the 21st Century."

AAR Composites will design and manufacture a lightweight main-deck cargo barrier, which separates the freighter section of the Boeing 767 Tanker Transport from the aerial-refueling crew. It will restrain the forward movement of cargo and act as a smoke and fire barrier.

"Pinellas County continues to make a tremendous contribution to the national defense needs of our nation," Young said, "and I am particularly pleased that AAR Composites will be a part of an important new project for the long overdue modernization of our tanker fleet."

Boeing will deliver the first of its 767 Tanker Transports to the government of Italy in 2005. This is one of four under contract between the Boeing and the Italians. Boeing is nearing the completion of contract negotiations with the United States Air Force for an innovative plan to lease up to 100 767 Tankers. This is the program that was included in a Fiscal Year 2002 Defense Appropriations Bill by the House Committee chaired by Young.

Aviation officials estimate the global market for 767 Tankers to be in the range of 500 aircraft over the next 30 years, Young said.

AAR Composites, located in the Icot Center, specializes in the design, development and manufacture of advanced composite structures. It provides products and services to the aviation and aerospace industry including customized inventory management and logistics programs, encompassing the supply, repair and manufacture of spare parts and systems. AAR serves commercial and government aircraft fleet operators and independent operators throughout the world.

The 767 Tanker is a new line of tanker aircraft launched by Boeing in February 2001. Boeing has been the supplier of the majority of the air-refueling aircraft used by U.S. forces and to other nations around the world, delivering almost 2,000 tanker aircraft. Boeing has also been the lead supplier of the air-refueling boom used on virtually every aircraft of its kind.