Boeing Taps Barker To Lead Boeing Realty Corp.

BELLEVUE, Wash. - March 13, 2003—The Boeing Company [NYSE: BA] has appointed Stephen J. Barker as president of Boeing Realty Corp., a wholly owned subsidiary that directs Boeing real estate strategies, acquisitions, dispositions, development and leasing worldwide.

Barker has been serving as interim president since January. He replaces Philip Cyburt, who resigned in January to take another position in the industry.

Barker reports to Bonnie Soodik, senior vice president of The Boeing Company and president of Shared Services Group. Shared Services provides Boeing business units with innovative and effective common services.

“Steve has been actively involved in Boeing Realty strategy and has a strong financial and real estate background,” Soodik said. “His leadership is highly valued.”

Since the late 1990s, Barker has served as the Boeing Realty director of business operations and chief financial officer. He joined Boeing Realty in 1993 as controller. Prior to Boeing, Barker was chief financial officer of SDC Investments Inc., a developer of retail and industrial properties. Before SDC, he was with the real estate practice of Ernst & Young. He is a member of CoreNet, Urban Land Institute and the American Institute of Certified Public Accountants, and serves on the faculty for CoreNet Global Learning.

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Boeing Realty’s portfolio spans from raw land to fully developed, high-tech office buildings. Current projects include more than 1,000 acres of land in various stages of development that have a projected market value - when fully built-out - of more than $1.5 billion. Boeing Realty headquarters are in Irvine, Calif., with additional offices in St. Louis and Seattle.

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