VT & BAE discuss JV

BAE Systems PLC and VT Group PLC are in early discussions regarding the combination of their surface ship build and naval support businesses into a joint venture.

DISCUSSIONS REGARDING FUTURE JOINT VENTURE

BAE Systems? submarines business is not included within the scope of these discussions. This initiative is in line with the UK?s Defence Industrial Strategy of the Ministry of Defence.

A further announcement will be made in due course.