[GRAPHIC OMITTED] [GRAPHIC OMITTED] EMBRAER
news release
www/embraer.com
SWISS FLEET REDUCTION HAS NO IMPACT ON EMBRAER OPERATIONS
Embraer delivery forecast remains unchanged for 2003, 2004
Sao Jose dos Campos, February 27, 2003 - Regarding the recent disclosure by
Swiss International Air Lines of a package of measures set up as a reaction to
the worsening economic situation that currently affects the company, Embraer has
the following to state.
Although the decision announced by SWISS that the reduction of its current fleet
by 17 regional aircraft may involve ERJ 145 jets manufactured by Embraer, it is
important to note that these aircraft have already been delivered, and are
property of SWISS. As Embraer has no repurchase or remarketing obligations
related to these assets, the announced reduction will have no direct impact on
Embraer.
SWISS also holds a firm order for 60 aircraft of the new EMBRAER 170/190 family.
Presently both companies are discussing the details pertaining to the delivery
schedule for these aircraft. According to the current plans, the first four
EMBRAER 170 will be delivered to SWISS in 2003.
EMBRAER 170/190 development program proceeds as planned, with the EMBRAER 170
expected to be certified in the second quarter of 2003, in order to allow
deliveries to SWISS, Alitalia and GECAS.
Embraer maintains its total delivery forecast for 2003 and 2004 at 136 and 140
aircraft respectively, and is constantly monitoring the airline industry
scenario. In accordance with its disclosure policy, Embraer will make timely
release regarding any future decisions related to its delivery forecast.
Note to editors
- ---------------
Embraer (Empresa Brasileira de Aeronautica S.A. - NYSE: ERJ; Bovespa: EMBR3 and
EMBR4) is one of the world's leading aerospace companies. With headquarters in
Sao Jose dos Campos, state of Sao Paulo, and offices and customer service bases
in Australia, China, France, Singapore and the United States, the Company as of
December 31, 2002 has a total workforce of 12,227 people. Embraer was Brazil's
largest exporter from 1999 to 2001, and second largest in 2002. As of December
31, 2002, Embraer's firm order backlog totaled US$ 9.0 billion and the total
backlog, including options, equaled US$ 22.2 billion.
Embraer has 33 years of experience in designing, developing, manufacturing,
selling and providing after sales support to aircraft aimed for the global
airline, corporate and (more recently) defense markets.
This document may contain projections, statements and estimates regarding
circumstances or events yet to take place. Those projections and estimates are
based largely on current expectations, forecasts on future events and financial
tendencies that affect the Company's businesses. Those estimates are subject to
risks, uncertainties and suppositions that include, among other: general
economic, politic and trade conditions in Brazil and in those markets where the
Company does business; expectations on industry trends; the Company's investment
plans; its capacity to develop and deliver products on the dates previously
agreed upon, and existing and future governmental regulations. The words
"believe", "may", "is able", "will be able", "intend", "continue", "anticipate",
"expect" and other similar terms are supposed to identify potentialities. The
Company does not feel compelled to publish updates nor to revise any estimates
due to new information, future events or any other facts. In view of the
inherent risks and uncertainties, such estimates, events and circumstances may
not take place. The actual results can therefore differ substantially from those
previously published as Company expectations.
press offices Headquarters North America Europe, Middle East and Africa
Rosana Dias: Doug Oliver: Stephane Guilbaud:
rosana.dias@embraer.com.br doliver@embraer.com sguilbaud@embraer.fr
Cell: +55 12 9724-4929 Phone: +1 954 359 3414 Phone: +33 (0) 1 49 38 44 55
Cell: +1 954 232 9560 Cell: + 33 (0) 6 75 22 85 19
Marcelo Onaga: Fax: +1 954 359 4755 Fax: + 33 (0) 1 49 38 44 56
marcelo.onaga@embraer.com.br
Cell: +55 12 9721-1560 Andrea Bottcher: Valerie Carlier:
abottcher@embraer.com vcarlier@embraer.fr
Phone: +55 12 3927 1311 Phone: +1 954 359 3432 Phone: +33 (0) 1 49 38 45 09
Fax: +55 12 3927 2411 Cell: +1 954 439 1830