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EX-IM BANK SUPPORTS EXPORT OF SIKORSKY COMMERCIAL HELICOPTERS TO BRAZIL

FOR IMMEDIATE RELEASE September 6, 2004

Media Contact Name/Phone: 

Linda Formella (202) 565-3200

sikors
An Ex-Im Bank loan of $60 million financed the export of 10 helicopters by Sikorsky Aircraft Corp. of Stratford, Conn., to Lider Taxi Aereo of Brazil. The helicopters will be used for offshore oil and gas exploration and operations, as well as passenger and cargo transport.

WASHINGTON, D.C.: The Export-Import Bank of the United States (Ex-Im Bank) approved nearly $60 million in financing to support the export of 10 model S-76C+ helicopters and spare parts by Sikorsky Aircraft Corporation of Stratford, Conn., to Lider Taxi Aereo of Belo Horizonte, Brazil. Ex-Im Bank is providing a direct loan to the Lider Group to support the transaction.

Lider Taxi, a leading provider of offshore helicopter services in Brazil, will use the helicopters to fulfill five-year service contracts with Petrobras and other customers to support offshore oil and gas exploration and operations. The helicopters will also be used for passenger and cargo transportation within Brazil.

Ex-Im Bank is pleased to be supporting this transaction for Sikorsky. The sale of these commercial-purpose helicopters will further Sikorsky's market share in Brazil and lead to follow-on opportunities for the company in the offshore oil services industry, said Ex-Im Bank Chairman Philip Merrill. Brazil is a key, growing market in the region.

We appreciate the participation of Ex-Im Bank as they continue to provide great support and assistance in our efforts to sell our products overseas, said Steve Estill, Sikorsky's vice president for worldwide sales.

Ex-Im Bank, the official export credit agency of the United States, is in its 70th year of helping finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance and direct loans. In the past five years, Ex-Im Bank has authorized financing to support the export of more than $22 billion of U.S. large commercial aircraft. For more information, visit www.exim.gov.