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James Yearwood Named President of Textron Financial's Land Finance Division

Williamstown, MA -- March 12, 2002 - Textron Financial has named James Yearwood president of its Land Finance Division, a business that provides receivables financing and specialty lending to developers of residential and recreational land lots. The business is based in Williamstown, Massachusetts and employs approximately 65 people in its headquarters and regional offices.

Yearwood has over twenty years of experience tailoring lending for the specific needs of land developers, as well as developers of vacation ownership resorts (commonly referred to as "timeshare properties") and resort sub-divisions.

Yearwood is a member of the Board of Trustees for the American Land Development Association (ARDA), the only international trade association that represents the unique interests of the recreational resort development/management sector, which encompasses various forms of vacation ownership including timesharing, fractional-ownership, vacation club, second-home and community-development offerings.

About Textron Financial Corporation
Textron Financial is a diversified commercial finance company with $9.4 billion in managed receivables and twenty-three years of record earnings. It has core operations in four segments: aircraft finance, revolving credit, specialty finance, and structured capital. Textron Financial's other services and products include transaction syndication, equipment appraisal and disposition, portfolio servicing, and insurance brokerage. Additional information about the company is available at www.tfc.textron.com.

About Textron Inc.
Textron Inc. (NYSE: TXT) is a $12 billion multi-industry company with more than 51,000 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, fastening systems, industrial products, industrial components 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.