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WHITE & CASE ADVISES ON GERMAN DEFENSE INDUSTRY PFI FIRST

June 2005

WHITE & CASE ADVISES ON GERMAN DEFENSE INDUSTRY PFI FIRST

Firm Predicts Increase in Deployment of PFI Model by German Government

June 27, 2005

White & Case represented a consortium of four leading manufacturers in the defense and flight simulator industry on one of the first private finance initiatives (PFIs) with the German Ministry of Defense and the first for the construction of flight simulators.

Under the terms of the deal the Ministry has entered into an 18-year operating agreement with a German consortium, Flight Helicopter Training Services GmbH, worth an aggregate value of approximately

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