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  1. L3Harris | L-3 MAPPS
9 January 2002

CAE wins C$24 million contract to relocate Canadian Navy VICTORIA Class Submarine Trainers

Montreal, – (TSE: CAE) CAE today announced it has been selected by the Government of Canada to relocate, operate and maintain eight VICTORIA Class Submarine Trainers currently located in the U.K. to a new navy training facility at Canadian Forces Base, Halifax, Nova Scotia. The value of the contract is approximately C$24 million.

Canada purchased four ex-U.K. Royal Navy’s UPHOLDER Class conventional submarines in 1998, including the package of unique trainers. The Canadian Submarine Group (CSG), led by CAE, will move the trainers from the U.K. and operate and maintain the devices for a period of four years. The contract contains options for renewal for two additional 12-month periods. The CSG includes General Dynamics Canada and Irving Shipbuilding Inc.

“Following our recent announcement of the UK Astute Class Training Service contract, this selection by the Canadian Navy reinforces CAE’s thrust into marine training. It demonstrates that CAE is well positioned to support the Canadian Navy for trainers and training services,” said Rashid Khan, Executive Vice President, Marine Controls, CAE.

This is CAE’s second naval training contract since the C$420 million contract for the U.K. Royal Navy’s Astute Class Training Service (ACTS) awarded in September 2001.

CAE is the world’s premier provider of simulation and control technologies for training and optimization solutions in Aerospace, Defence and Forestry. Headquartered in Canada and operating globally, the company employs more than 7,000 people and has revenues in excess of C$1 billion.

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