Textron, Inc.

40 Westminster St.
Providence, R.I. 02903
401-421-2800; fax 401-421-2878
Employees: 71,000

Textron is a global, multi-industry company that operates in five sectors: aircraft,
automotive, fastening systems, industrial products and finance. For the first
quarter the company’s sales fell 8 percent to $3.04 billion and earnings dropped
28 percent to $113 million. Last week the company announced the sale of Kautex
Textron Division to Johnson Electric for $12.5 million. Kautex, with annual sales
of about $16 million, manufactures fuel pump armatures and cruise control stators
for automotive tier-one suppliers.

Stock Information
Exchange: NYSE
Symbol: TXT
Annual meeting: April 25, 2001
Shares of common stock outstanding as of June 29,2001: 141,000,000
Stock price as of Friday, June 29, 2001: $55.04
Market value as of Friday, June 29, 2001: $7,760,640,000
12-month high stock price: $61.75
12-month low stock price: $40.69

Operating Results
(dollars in millions, except per share data)

Directors

Paul E. Gagne, 54, director since 1995, consultant to Kruger, Inc.. Shares:
2,154

John A. Janitz, 58, director since 1999, president and chief operating
officer of the company. Shares: 201,424

Lord Powell of Bayswater KCMG, 59, director since 2001, president of the
China-Britain Business Council, chairman of the Singapore-British Business Council
and chairman of the Trustees of Oxford University Business School. Was private
secretary and advisor on foreign affairs and defense to British Prime Ministers
Lady Margaret Thatcher and John Major. Shares: 1,000

Thomas D. Wheeler, 64, director since 1993, retired chairman and chief
executive officer of Massachusetts Mutual Life Insurance Co. Shares: 2,323

H. Jesse Arnelle, 67, director since 1993, senior partner in the law firm
of Arnelle, Hastie, McGee, Willis & Greene, San Francisco. Shares: 2,218

John D. Macomber, 73, director since 1993, principal of JDM Investment
Group. Shares: 11,264

Brian H. Rowe, 69, director since 1995, retired chairman and now a consultant
of GE Aircraft Engines, General Electric Co. Shares: 9,882 Sam F. Segnar, 73,
director since 1982, retired chairman and chief executive officer of Enron Corp.
Shares: 4,215

Martin D. Walker, 68, director since 1986, chairman and chief executive
officer of M.A. Hanna Co. Shares: 3,780 Teresa Beck, 46, director since 1996,
former president of American Stores Co. Shares: 2,000

Lewis B. Campbell, 54, director since 1994, chairman and chief executive
officer of the company. Shares: 585,628

R. Stuart Dickson, 71, director since 1984, chairman of the executive committee
of Ruddick Corp. Shares: 41,300

Lawrence K. Fish, 56, director since 1998, chairman, president and chief executive
of Citizens Financial Corp. Shares: 1,000

Joe T. Ford, 63, chairman and chief executive officer of ALLTEL Corp. Shares:
2,000

Directors’ fees
Non-employee directors an annual retainer of $75,000, plus $1,500 for each Board
meeting attended. Non-employee directors who serve on the executive committee
or one of the standing committees receive $1,500 for each committee meeting attended,
and the chairman of each standing committee receives an additional $5,000.

Institutional ownership
FMR Corp. (Fidelity Management & Research Corp.), 18,317,018 shares;
Barclays Bank Plc, 4,149,735 shares;
Neuberger Berman, LLC, 3,491,445 shares;
Keybank National Association, 2,846,396 shares;
State Street Corp., 2,639,467 shares.

Executive compensation

*Executive compensation includes salary, bonuses, and other compensation, including
life insurance, cash profit sharing and other payments.

Source: Proxy statement, annual report, quarterly reports, and
other PBN research