Boeing Engineering and Technical Employees Ratify Contracts

SEATTLE, Dec. 2 /PRNewswire-FirstCall/ — Boeing (NYSE: BA) engineering
and technical employees represented by the Society of Professional Engineering
Employees in Aerospace (SPEEA) IFPTE Local 2001 ratified four-year collective
bargaining agreements covering nearly 21,000 employees in Washington, Oregon,
California and Utah.

SPEEA announced the result today following a vote-by-mail process. Boeing
and SPEEA leaders agreed Nov. 14 on the terms of the market-competitive
contracts (for more information:
http://www.boeing.com/news/releases/2008/q4/081114e_nr.html).

“These contracts reward our employees for the valuable contributions they
make to Boeing’s success,” said Doug Kight, Boeing vice president of Human
Resources. “These agreements also enable us to remain competitive and position
Boeing to continue to win new business during these challenging economic
times.”

Employees voted on two contracts: The first covers 14,000 engineers in the
SPEEA Professional Bargaining Unit. The second contract covers 7,000 technical
workers in the union’s Technical Bargaining Unit. The contracts go into effect
Dec. 2, 2008, and expire Oct. 6, 2012.

More information is available at http://www.boeing.com/2008negotiations.
For a detailed summary of the contracts, go to:
http://www.boeing.com/2008negotiations/pdf/speea_agreement.pdf.

Contacts:

Karen Fincutter, Boeing Commercial Airplanes, +1 206-304-4201

Tim Healy, Boeing Commercial Airplanes, +1 206-321-3936

SOURCE Boeing