Textron Financial: Newsroom: Press Release


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TEXTRON FINANCIAL CORPORATION LAUNCHES EXCLUSIVE FINANCE PROGRAM
WITH MORRIS INDUSTRIES, LTD.

St. Louis, MO- July 1, 2003 - Textron Financial Corporation, a subsidiary of Textron Inc. (NYSE: TXT), has announced its Large Ticket Division is providing a multi-year exclusive inventory finance program to Morris Industries, Ltd. of Saskatoon, Saskatchewan.

The inventory finance program is an exclusive commitment between Textron Financial and Morris Industries, Ltd. The program will assist resellers of Morris Industries Equipment in managing their cash flow and more effectively growing their businesses.

Textron Financial is known for their flexible, innovative, customer programs, which give manufacturers such as Morris Industries a fresh approach for doing business. “Morris Industries is a premier name in the agricultural market,” said Chad Corsi, Vice President of Marketing of Textron Financial’s Large Ticket Division. “We are very excited to collaborate with such a respected industry leader. Our goal is to provide Morris Industries, and its independent dealer base, customer focused programs and ‘out of the box’ solutions for their financing needs.”

“We look forward to a mutually beneficial future for Morris, its partner dealers, and new business partner Textron Financial,” said Casey Davis, President and CEO of Morris Industries. “This combination will enhance our business opportunities.”

About Morris
Morris Industries manufactures and markets advanced air seeding, tillage and hay hauling equipment to agricultural producers around the world. OEM or proprietary, the focus remains the same – to build farm equipment using field-proven technology with the objective that each machine is easy to operate and simple to use and maintain. To date, our greatest achievement has been earning the trust and loyalty of our customers. Morris Industries has many independent dealers and distributors located throughout Canada, the United States and Australia. Additional information about the company is available at www.morris-industries.com.

About Textron Financial Corporation
Textron Financial is a diversified commercial finance company with over $9 billion in managed and serviced finance receivables. It has core businesses in Aircraft 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. (NYSE: TXT) is an $11 billion multi-industry company with 49,000 employees in 40 countries. The company leverages its global network of businesses to provide customers with innovative solutions and services in industries such as aircraft, industrial products and components, fastening systems and finance. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft, Kautex, Lycoming, E-Z-Go and Greenlee, among others. More information is available at www.textron.com.