Kaman (KAMN) 8-K Other Events

Kaman Corporation (NASDAQ-GS: KAMN)

Kaman Corporation (NASDAQ-GS: KAMN)

INVESTOR PRESENTATION

Q4 and Full Year 2007

Slide 1

Forward-Looking Statements

This presentation may contain forward-looking information relating to the company's business and prospects,
including the Aerospace and Industrial Distribution businesses, operating cash flow, and other matters that involve a
number of uncertainties that may cause actual results to differ materially from expectations. Those uncertainties
include, but are not limited to: 1) the successful conclusion of competitions for government programs and thereafter
contract negotiations with government authorities, both foreign and domestic; 2) political conditions in countries where
the company does or intends to do business; 3) standard government contract provisions permitting renegotiation of
terms and termination for the convenience of the government; 4) domestic and foreign economic and competitive
conditions in markets served by the company, particularly the defense, commercial aviation and industrial production
markets; 5) risks associated with successful implementation and ramp up of significant new programs; 6) successful
implementation of the Deed of Settlement agreed upon with the Commonwealth of Australia, which would conclude the
Australia SH-2G (A) program with a mutual release of claims; 7) receipt and successful execution of production orders
for the JPF U.S. government contract, including the exercise of all contract options and receipt of orders from allied
militaries, as both have been assumed in connection with goodwill impairment evaluations; 8)the University of
Arizona’s continued failure to succeed in its appeals efforts to overturn the jury verdict that rejected the University's
breach of contract claim against the company;9) satisfactory resolution of the company’s contract dispute with the
U.S. Army procurement agency relating to the FMU-143 program; 10) continued support of the existing K-MAX
helicopter fleet, including sale of existing K-MAX spare parts inventory; 11) cost growth in connection with
environmental remediation activities at the Moosup and New Hartford, CT facilities and such potential activities at the
Bloomfield, CT facility; 12) profitable integration of acquired businesses into the company's operations; 13) changes in
supplier sales or vendor incentive policies; 14) the effect of price increases or decreases; 15) pension plan
assumptions and future contributions; 16) future levels of indebtedness and capital expenditures; 17) continued
availability of raw materials in adequate supplies; 18) the effects of currency exchange rates and foreign competition on
future operations; 19) changes in laws and regulations, taxes, interest rates, inflation rates, general business
conditions and other factors; and 20) other risks and uncertainties set forth in the company's annual, quarterly and
current reports, and proxy statements. Any forward-looking information provided in this report should be considered
with these factors in mind. The company assumes no obligation to update any forward-looking statements contained in
this presentation.

Contact:
Eric B. Remington, Vice President
(860) 243-6334
Eric.Remington@kaman.com

PERCENT DISTRIBUTION

OF SEGMENT SALES:

FULL YEAR 2007

Slide 2

KAMAN CORPORATION
SEGMENT REPORTING STRUCTURE

Highlights:Year Ended December 31, 2007

Slide 3

Four Aerospace industry segments:

Aerostructures segment:Full year sales: $102.4 million (+30.0%)/Full year operating income: $13.2 million (+14.6%)

Results driven by BLACK HAWK and Boeing programs.
Operating income adversely affected by adjustments related to the ramp-up of several new programs at Wichita.

Fuzing segment:Full year sales: $87.5 million (+23.1%)/Full year operating income: $10.5 million (+36.1%)

Results driven by JPF and 40mm product sales.
Segment remains subject to quarter-by-quarter fluctuation.

Helicopters segment:Full year sales: $72.0 million (+3.0%)/Full year operating income: $2.6 million (up substantially)

Results driven by Egypt SH-2G depot level maintenance program and upgrades, and by subcontract work on BLACK
HAWK for Sikorsky (lower for 4th quarter/higher for year).Australia program charge is lower.

Specialty Bearings segment:Full year sales: $124.0 million (+16.7%)/Full year operating income: $41.4 million (+44.6%)

Record results driven by strong demand and competitive advantages in a robust market environment.

Industrial Distribution segment:Full year sales: $700.2 million (+5.2%)/Full year operating income: $33.0 million (-6.0%)

Results driven by national account awards, including the effect of cost to ramp up large new accounts.
Economic conditions mixed with weak sectors such as housing offset by strong sectors such as mining.

Emphasis on less cyclical industries has benefited the segment.

FOUR AEROSPACE INDUSTRY SEGMENTS

2007 Sales: $386 million

Slide 5

AEROSTRUCTURES SEGMENT: Jacksonville, FL and Wichita, KS

Produces parts and subassemblies for
Tier 1 and Prime Manufacturers:

4Military: Boeing C-17 internal wing structures
Sikorsky BLACK HAWK helicopter cockpits
Sikorsky MH-92 helicopter composite tail rotor pylons

4Commercial: Boeing 777 and 767 wing trailing edges
787 composite structures

Strategy:Take advantage of subcontracting opportunities
as the Tier 1 and Prime producers focus onfinal assembly
and systems integration.

Available capacity: well-located, flexible, competitive.

Slide 6

FUZING SEGMENT: Middletown, CT and Orlando, FL

Manufactures safe, arm and fuzing devices
for major missile and bomb programs.

4Principal Missile programs: AMRAAM, ATACMS,
Harpoon, Maverick, Standard and Tactical Tomahawk

4Principal Bomb program: Joint Programmable Fuze

4Segment includes Measuring & Memory
Systems products.

Strategy:Become a leading producer offuzing systems
for the U.S. and allied militaries.

Principal customers: U.S. and allied militaries, Boeing
General Dynamics, Lockheed and Raytheon.

Slide 7

HELICOPTERS SEGMENT: Bloomfield, CT

Markets and supports Kaman-made SH-2G Super
Seasprite maritime helicopter and K-MAX
“Aerial Truck” helicopter -and performs
subcontract helicopter programs.

Principal programs:
Major maintenance and upgrades to Egyptian SH-2G(E)
helicopters BLACK HAWK subcontract work for Sikorsky
Executing Settlement Agreement for legacy Australia program

Strategy:Take advantage of subcontracting opportunities
as the tier 1 and prime producers focus on final assembly
and systems integration.

Principal customers: The governments of Egypt, New Zealand
and Poland; and Sikorsky.

Slide 8

SPECIALTY BEARINGS SEGMENT: Bloomfield, CT and Dachsbach, Germany

Designs and manufactures proprietary self-
lubricating airframe bearings

Programs: Kaman products are used in nearly all
military and commercial aircraft produced in North
and South America and Europe.

Strategy: Maintain leadership in product technical
performance and application engineering support
while staying ahead of the curve in product
technology enhancement

2007 sales: $700.2 million

INDUSTRIAL DISTRIBUTION SEGMENT

Slide 10

INDUSTRIAL DISTRIBUTION SEGMENT

Third largest industrial distribution firm in $12 billion
power transmission market.

Strategy:

4Expand the geographic footprint to enhance competition
for national and regional accounts.

4Broaden the product line

4Improve operating and asset utilization efficiencies

Customers:Broad cross section of industry with more than 50,000
customers served from local branches in 70 of the top 100 U.S.
Industrial markets.Growing national account base.

Source: Federal Reserve Board

INDUSTRIAL DISTRIBUTION SEGMENT

Slide 11

FRB Indices Of Industrial Production and Capacity Utilization:
Predictability: Segment tends to track national indices

KIT Branch Location

Distribution Center

ISC Branch Location

(closing scheduled for
3/31/08)

Geographical Coverage:Approximately 200 locations in U.S., Canada and Mexico

Slide 12

INDUSTRIAL DISTRIBUTION SEGMENT

FINANCIAL REVIEW

36%

2007 Sales from Continuing Operations: $1,086 million

1 Corporate expense percentage is to Total Sales

(In thousands) SEGMENTS	Net Sales		Operating Income/(Loss)		Operating Margin
	2007	2006	2007	2006	2007	2006
1.Aerostructures	$102,362	$78,742	$13,219	$11,538	12.9%	14.7%
2.Fuzing	87,455	71,068	10,546	7,750	12.1%	10.9%
3.Helicopters	72,031	69,914	2,631	222	3.7%	0.3%
4.Specialty Bearings	124,009	106,278	41,387	28,630	33.4%	26.9%
5.Subtotal Aerospace	385,857	326,002	67,783	48,140	17.6%	14.8%
6.Industrial Distribution	700,174	665,420	33,038	35,160	4.7%	5.3%
7.Net gain/(loss) on sale of assets			2,579	(52)
8.Corporate expense/other			(38,672)	(35,426)	1 (3.6%)	1(3.6%)
9.Sales/Op. inc. from continuing ops	$1,086,031	$991,422	$64,728	$47,822	6.0%	4.8%

Slide 14

INCOME STATEMENT HIGHLIGHTS
For full years ended December 31, 2007 and 2006

	Three Months ended December 31, 2007		Twelve Months ended December 31, 2007
	2007	2006	2007	2006
1.Net earnings from continuing operations	$8,974	$6,733	$36,491	$24,643
2.Earnings from discontinued operations, net of taxes	3,536	2,909	7,890	7,143
3.Gain on disposal of discontinued oper, net of taxes	11,538	--	11,538	--
4.Net earnings	$24,048	$9,642	$55,919	$31,786
5.Diluted net E.P.S. from continuing operations	$0.35	$0.27	$1.46	$1.01
6.Diluted net E.P.S. from discontinued operations	0.14	0.12	0.31	0.29
7.Diluted net E.P.S. from disposal of discontinued oper	0.46	--	0.46	--
8.Diluted net earnings per share	$0.95	$0.39	$2.23	$1.30

On December 31, 2007, Kaman completed the sale of its Music segment to Fender Musical Instruments Corp.
for a cash payment of $117 million.The discontinued segment contributed $0.14 and $0.31 per share, diluted,
respectively to earnings for the fourth quarter and full year 2007.The sale of the segment resulted in an after
tax gain of $0.46 per share, diluted.Net cash received after taxes and fees was approximately $100 million.

Slide 15

EARNINGS FROM CONTINUING AND DISCONTINUED OPERATIONS
Fourth Quarters and Full Years ended December 31 2007 and 2006

(In Thousands)	As of 12/31/07	As of 9/28/07	As of 12/31/06
1.Cash and Cash Equivalents	$73,898	$14,484	$12,720
2.Notes Payable and Long-term Debt	$12,874	$99,940	$74,423
3.Shareholders’ Equity	$394,526	$332,060	$296,561
4.Debt as % of Total Capitalization	3.2%	23.1%	20.1%
5.Capital Expenditures (Continuing Operations)	$14,226	$9,301	$12,099
6.Depreciation & Amortization (Continuing Operations)	$9,893	$7,204	$8,754

BALANCE SHEET AND CAPITAL FACTORS

Slide 16