CAE and Mitsui launch global joint venture in support of the Mitsubishi Regional Jet training requirements

PARIS, FRANCE--(Marketwire - June 20, 2011) - CAE (NYSE:CAE)(TSX:CAE) and Mitsui & Co., Ltd. today announced at the Paris Air Show that they are forming a joint venture to establish and operate a training centre in Japan for the new Mitsubishi Regional Jet (MRJ). CAE announced in 2010 at the Farnborough Air Show an agreement with Mitsubishi Aircraft Corporation to develop and deliver a comprehensive training solution for the MRJ, including a 10-year Exclusive Training Provider program.

"CAE is uniquely positioned to develop strategic relationships with aircraft OEMs to train their customers, helping in aircraft market acceptance and entry into service," said Jeff Roberts, CAE's Group President, Civil Simulation Products, Training and Services. "The MRJ training program is a prime example of CAE's unique and comprehensive suite of capabilities, including instructional systems development, integrated simulation technology, facilities planning, regulatory expertise and our demonstrated ability to collaborate closely with aircraft manufacturers, avionics suppliers and training partners."

"The strong relationship between Mitsui and CAE spans four decades of successfully serving the aviation market in Japan," said Ichizo Kobayashi, Mitsui Managing Director, COO, Marine & Aerospace Business Unit. "This joint venture for MRJ training broadens our relationship and expands the services we offer together to promote the growth and safety of civil aviation."

The MRJ training centre in Japan will be ready for training in 2013; CAE and Mitsui will be equal partners in the facility. In addition, CAE will deploy an MRJ simulator in a training centre in the central United States, also in 2013, for which Mitsui may provide support. Additional MRJ simulators will be deployed based on market requirements, and under the terms of the agreement CAE and Mitsui may explore collaboration on these future simulator deployments.

In support of the Mitsubishi agreement, CAE is developing two CAE 7000 Series MRJ Level D full-flight simulators (FFS) as well as CAE Simfinity™ integrated procedures trainers. CAE will also design curricula and courseware, and provide CAE-led training for pilots, maintenance technicians, cabin crew, dispatchers and ground support personnel. The two simulators will be the world's first two MRJ FFSs.

The MRJ is a next-generation regional aircraft which leverages Mitsubishi's more than 60 years of manufacturing expertise, including recent development of composites for the Boeing 777 and 787 models. The 70-90 seat MRJ is planned to enter service in 2014 with launch customer All Nippon Airways (ANA).

About Mitsui & Co. Ltd.

Utilizing their global operating locations, network and information resources, Mitsui & Co. is a multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Motor Vehicles, Marine & Aerospace, Chemicals, Energy, Foods & Retail, Consumer Services, Information, Electronics and Telecommunications, Financial Markets and Transportation Logistics.

In the aerospace sector, Mitsui & Co. is involved with sales, leasing, and arrangement of financing for passenger and cargo aircraft and engines, modification of passenger aircraft for use as cargo aircraft, aircraft maintenance, sales of helicopters, defense-related and aerospace-related products.

About CAE

CAE is a world leader in providing simulation and modelling technologies and integrated training solutions for the civil aviation industry and defence forces around the globe. With annual revenues exceeding C$1.6 billion, CAE employs more than 7,500 people at more than 100 sites and training locations in more than 20 countries. We have the largest installed base of civil and military full-flight simulators and training devices. Through our global network of 32 civil aviation, military and helicopter training centres, we train more than 80,000 crewmembers yearly. We also offer modelling and simulation software to various market segments, and through CAE's professional services division we assist customers with a wide range of simulation-based needs. www.cae.com