CargoLifter AG i.I.

CargoLifter Signs Contract With BAE Systems

The US company will support CargoLifter Development in the development of its Avionic System and Flight Control System.

    Berlin (ots) - On July 16, 2001, CargoLifter AG signed a contract with a development partner for the CL 160 transportation airship project. The British-American aerospace supplier and development firm BAE SYSTEMS Controls, a worldwide leader in avionics, will support CargoLifter in the development process and design of the airship's Avionic System(Instrumentation, Navigation, Communication) and Flight Control Systems. Since July 15, BAE SYSTEMS has had a four-person developer team at the CargoLifter Dock in Briesen-Brand near Berlin which, in cooperation with CargoLifter airship developers, and supported by BAE SYSTEMS Control facility in Santa Monica, California will develop both systems in preparation for production. The first phase of cooperation be will finalized at CargoLifter 5th shareholder meeting in spring 2002.

    "With BAE SYSTEMS, we've gained a partner which is one of the top companies in the aerospace industry, with excellent experience and references in the area of flight electronics and control," said Ralph Maurer, Director of Development at CargoLifter Development GmbH. "We are pleased with the cooperation with BAE SYSTEMS and are proud to have such a well-respected company as one of our partners."

    CargoLifter AG, based in Berlin, is developing a 260-meter-long and 65-meter-wide airship for the transport of oversized and heavy goods weighing up to 160 metric tons - the CargoLifter CL 160. This "flying crane" will be able to carry out expensive heavy transports faster, more simply and more cost efficiently - without ever touching the ground and almost entirely independent from the local infrastructure. To develop to the airship in a market-oriented way, CargoLifter is already today cooperating with various industrial companies within the framework of its Lead-User concept. Since May 2000, the company's shares have been listed on the Frankfurt Stock Exchange(WKN 540 261, symbol: CLA). Since December 2000 it has been in the MDAX index.

    Currently, the CargoLifter company employs 435 people, 235 of which are working on airship development at the dock in Briesen-Brand, near Berlin in the state of Brandenburg. At the moment, Brand is the company's pivotal location. At the end of 2000 the production hangar for the CL 160 was completed. 107 meters high, 210 meters wide and 360 meters long, it is the world's largest free-standing hangar. CargoLifter has built the CargoLifter World theme park, allowing the interested public to follow the company's development. It has been immensely popular since its opening in June 2000.

    BAE SYSTEMS is the truly global systems, defense and aerospace company, with annual sales of some $18 billion and more than 100,000 employees. The company offers a global capability in air, sea, land, and space, with a world-class prime contracting ability supported by a range of key skills. BAE SYSTEMS designs and manufactures civil and military aircraft, surface ships, submarines, space systems, radar, avionics, communications, electronics, guided weapon systems, and other defense products.

    BAE SYSTEMS North America employs 22,000 people in the design, development, integration, manufacture, and support of a wide range of advanced aerospace products and intelligent electronic systems for government and commercial customers.

    BAE SYSTEMS Controls, an operating unit of BAE SYSTEMS North America, is a leading supplier of electronic flight and engine controls for defense and commercial aircraft and launch vehicle applications. It also provides integrated avionics for aircraft applications and complete unmanned aerial vehicle systems and is a leader in electronic controls for the locomotive industry and the emerging hybrid-electric vehicle market. Controls operates facilities in Johnson City, New York; Santa Monica and Ontario, California; Fort Wayne, Indiana; and Redmond, Washington.

ots Original Text: CargoLifter AG Internet:

Silke Rösser                      
CargoLifter AG                      
Potsdamer Platz 10                    
10785 Berlin                                
Tel. +49 30-7261039-2124        
Fax +49 35477- 6500-2124      

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