BAE SYSTEMS2003-04-07 11:31:08


BAE SYSTEMS Capital announces new lease management and administration business for its fast growing Asset Administration team. An agreement has been signed with BCI Aircraft Leasing of Chicago, Illinois ("BCI") to perform key lease and asset administration services for 3 Boeing 737-300QC aircraft operated by Europe Airpost, and a Boeing 737-200Adv aircraft operated by EAS Airlines. This agreement marks the start of what BAE SYSTEMS Capital considers to be an exciting new relationship with BCI. The intention is for additions to the BCI fleet to be similarly serviced by BAE SYSTEMS Capital.

Commenting on the agreement, Paul Rofe, General Manager Asset Administration said, "This agreement confirms that BAE SYSTEMS is considered as an important player in the servicing of aviation portfolios, and recognises BAE SYSTEMS Capital's key skills in the important area of lease management and administration. We welcome the start of this relationship with BCI, which will see us providing these key services to them. We will also benefit from the future growth BCI plan for their business as we assume the lease management and administration for new additions to the BCI fleet, as well as further aircraft in their existing portfolio.�

Brian Hollnagel, President of BCI Aircraft Leasing Inc. said, "BCI is very excited about this opportunity to work with BAE SYSTEMS. Their management team and expertise in this area, as well as many others, is going to be an integral part of growing our portfolio up to and beyond $1BN.�

For more information contact:
Warwick House
Po Box 87
Farnborough Aerospace Centre
GU14 6YU
United Kingdom
Tel:     + 44 1252 373232
Fax:     + 44 1252 383000



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