Textron Financial: Newsroom: Press Release


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Textron Financial's Floorplan Finance Division Shifts to Industry-Specific Approach The Realignment Includes the Formation of a New Large Ticket Group

Minneapolis, Minnesota - March 27, 2001 - Textron Financial Corporation's Floorplan Finance Division, which provides inventory financing to manufacturers, distributors, and retailers, is changing to an industry-specific approach. All departments will be realigned according to specific industries served by the division. These industries include Music, Marine, Spa, Trailer, Outdoor Power Equipment, and most recently, Manufactured Housing, Recreational Vehicle and Construction Equipment.

Effective during the first quarter of 2001, the new approach involves restructuring the organization to address growth in these and other core industries. "We have reassigned our marketing and sales staffs and have matched them with industry experts to meet our customers' unique financing requirements," remarked Ray Hubler, Vice President, National Sales and Marketing Manager.

Textron Financial has been providing financial services to a variety of industries for over 30 years in both non-captive and captive relationships with Textron Inc. With its blend of capital strength, experience and innovation, Textron Financial's Floorplan Finance Division has established numerous niche specialties. Recently, the division formed a "Large Ticket" group based in Atlanta, Georgia, to meet the growing needs of the Manufactured Housing, Recreational Vehicle and Construction Equipment industries.

"Having our division appropriately aligned with specific industries allows us to improve our level of service to those industries," stated Dan Lusk, Vice President of Sales Operations. "This new organizational structure will allow us to better provide optimum programs and improved service to our customers in all markets," added John King, Division President.

Textron Financial is a diversified commercial finance company with over $7 billion in managed receivables and twenty-two years of record earnings. Its market-aligned businesses provide lending and leasing to small and middle market companies, as well as financial services that include asset management, syndications, portfolio servicing, and insurance brokerage. Textron Financial also provides specialty finance for the golf, timeshare, and telecommunications industries. Additional information about the company is available at www.tfc.textron.com. To speak to someone about financing programs offered by the Floorplan Finance Division, call 800-328-0724.

Textron Financial is a subsidiary of Textron Inc. (NYSE: TXT; www.textron.com), a $13 billion, global, multi-industry company with market-leading businesses in Aircraft, Automotive, Fastening Systems, Industrial Products, and Finance. Textron has a workforce of over 70,000 employees and major manufacturing facilities in 30 countries. Textron is among Fortune magazine's "Global Most Admired Companies."