Boeing Acquisition of Maryland-Based Conquest, Inc. Complete

ST. LOUIS, Feb. 11, 2003 -- Boeing [NYSE:BA] announced today that it has completed the acquisition of Conquest, Inc., a premier provider of enterprise architecture, systems engineering, and software technology solutions to the intelligence community. Terms were not disclosed.

The unit becomes Boeing Advanced Information Systems -- Maryland Operations, a department of Boeing Space and Intelligence Systems, or S&IS, Boeing's center for all intelligence programs. Headquartered in Annapolis Junction, Md., the new unit adds approximately 200 employees to the Boeing roster and a contract backlog valued at $250 million over the next three years.

"The acquisition will expand Boeing service to the intelligence community," said Dr. Roger Roberts, senior vice president of S&IS. "Conquest's excellent history of support to the intelligence community and Boeing's experience in large-scale systems integration will provide a greater offering to future needs within that customer community."

"It was a perfect fit," said Norman G. Snyder, president of Conquest. "Boeing's customer focus and technical expertise made them the ideal acquisition partner for Conquest. In addition, Boeing's ability to manage large-scale programs makes them the logical choice for organizations that are putting in place important new capabilities. We are honored to be a part of the Boeing organization."

S&IS is a leader in large-scale systems integration, Intelligence, Surveillance and Reconnaissance, or ISR, systems, communication systems, network systems, and protection and security systems. ISR systems provide critical information that support the integrated battlespace, a networked communications system that supports battlefield decision-making by collecting, assimilating, visualizing, and distributing real-time data to those who make life-and-death decisions to protect the peace and defend a nation.

Boeing Space and Intelligence Systems is a unit of Boeing Integrated Defense Systems, one of the world's largest space and defense businesses. Headquartered in St. Louis, Integrated Defense Systems is a $25 billion business. It provides systems solutions to its global military, government and commercial customers. It is a leading provider of intelligence, surveillance and reconnaissance; the world's largest military aircraft manufacturer; the world's largest satellite manufacturer and a leading provider of space-based communications; the primary systems integrator for U.S. missile defense; NASA's largest contractor; and a global leader in satellite launch services.

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03-18

Contact Info:
Diana Ball (S&IS)
562-797-5863 office -- 562-243-8269
Walter Rice (IDS)
314-234-2149 office -- 314-705-0005 cellular
Anne Beard (Conquest)
301-497-2811 office -- 410-703-0440 cellular