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Government of Canada Helps Create New High-Tech Jobs

Government of Canada Helps Create New High-Tech Jobs: Chinook Training Contract With CAE Supports Canadian Aerospace Sector

MONTREAL, QUEBEC--(Marketwire - March 23, 2010) - Today, the Honourable Rona Ambrose, Minister of Public Works and Government Services, and the Honourable Denis Lebel, Minister of State (Economic Development Agency of Canada for the Regions of Quebec), announced support for the creation of new high-tech jobs in the Canadian aerospace industry. CAE Inc. has been awarded the training contract for the 15 new Boeing CH-147F Chinook medium-to-heavy-lift helicopters to be delivered to the Canadian Forces.

"This investment demonstrates our commitment to creating high-tech jobs in the Canadian aerospace sector," said Minister Ambrose. "Over the length of the contract, CAE will provide training for the new Chinook aircrews on high-tech flight-simulators."

"The cost saving resulting from combining the Chinook and Hercules training program requirements under one provider makes good business sense and represents good value for the Canadian taxpayer," added Minister Ambrose.

"As with all major military procurements, the Government of Canada's Industrial and Regional Benefits Policy ensures that 100 percent of this contract's value is invested in Canada," said Minister Lebel. "This means that CAE will generate one dollar of economic activity in Canada for every dollar it receives from the contract, with the majority of benefits flowing directly to the Canadian aerospace and defence sector."

"Our Government is providing the men and women of the Canadian Forces the best training and technology to do their jobs at home and on the world stage," said the Honourable Peter MacKay, Minister of National Defence. "This agreement with CAE, under the Canada First Defence Strategy, enables the aircrews of the new CH-147F Chinook helicopters to train on world-class high-tech simulators."

"The men and women of CAE are proud that our technology, developed in Canada and used by the defence forces of more than 50 nations, will play a key role in preparing our Canadian Forces to be mission ready," said Marc Parent, CAE's President and CEO. "When our government invests in Canadian companies, we can continue to create and maintain high quality jobs and to develop our expertise in Canada. It also positions us to seize opportunities presented by similar programs around the world."

Since February 2009, CAE has been the aircrew training provider for the Canadian Forces C-130J Hercules transport aircraft, as a result of the award of a $346 million Operational Training Systems Provider contract. The contract announced today represents an additional investment of $250 million in high-tech jobs in Canada's world-leading aerospace industry.

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