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DGAP-News: CargoLifter AG <CLA>tempe

Boeing and CargoLifter sign Letter of Intent

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement.

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Chicago/Berlin - The Boeing Company and CargoLifter AG announced today that they have signed a Letter of Intent (LOI) to explore potential business opportunities for the development and use of "Lighter-than-Air" (LTA) vehicles for commercial, military and homeland security applications.

The LOI - signed by George Muellner, president of the Boeing Phantom Works R&D division, and Carl von Gablenz, CEO of CargoLifter AG - provides the basis for a more detailed joint study of possible business opportunities beyond CargoLifter´s current business focus on using LTA vehicles for transporting heavy and outsized cargoes. Such opportunities could include the development of a stratospheric airship for commercial and military applications.

For all such applications LTA vehicles offer a number of potential performance and cost benefits over traditional aircraft. They are environmentally friendly and require only a small logistics infrastructure. They provide constant lift independent of air speed, enabling high endurance and lengthy loitering. Their lift capability increases exponentially with vehicle size rather than only directly with wing area. They provide a stable platform with low G forces and virtually zero shock loads. And their low air speeds allow for more simple and affordable structures.

"Because our initial discussions have revealed a number of potential synergies and business opportunities between our two companies, this LOI is the next logical step in defining these opportunities in more depth," said Muellner. "Once completed, we will have a stronger basis to decide whether entering into a long-term collaborative arrangement is in our mutual interests."

Added von Gablenz, "From the outset, part of CargoLifter´s strategic plan has been to enter into a long-term partnership with a major global company whose mission, interests, and capabilities are in alignment with, and complementary to, those of CargoLifter. We are delighted to pursue these detailed studies with Boeing and look forward to discovering additional synergies and opportunities."

end of message, (c)DGAP 02.05.2002

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WKN: 540261; ISIN: DE0005402614; Index: MDAX Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart

Autor: DGAP import (),08:54 02.05.2002

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