PR Newswire/Les Echos/

Press release

  Safran to acquire the Aerospace Power Distribution Management Solutions and
 Integrated Cockpit Solutions business of Eaton, reinforcing Safran's strategy
                       over the electrical energy chain

Note to the media: A related release has been issued by Eaton.

Paris, January 20, 2014 - Safran (NYSE Euronext Paris: SAF) today announces the
signature of a definitive agreement to acquire the Aerospace Power Distribution
Management Solutions and the Integrated Cockpit Solutions business of Eaton.

The acquisition of the Aerospace Power Distribution Management Solutions
business brings key contactor and circuit breaker technologies to Safran. As
the continuation of Safran's strategy addressing the market for "more electric
aircraft", it reinforces Labinal Power Systems, which consolidates the group's
electrical power activities.

The acquisition of the Integrated Cockpit Solutions business allows Safran to
bolster Sagem's offering and North-American presence in avionics and flight
controls, bringing recognized expertise in panels and displays, including
illuminated switches and cockpit controls.

The business holds strong market positions in commercial (regional, short-to
medium-haul, long-haul), business and military aviation. The business generated
revenues of more than USD 100 million  and EBITDA in excess  of USD 14 million
in 2013. Aerospace Power Distribution Management Solutions account for around
60% of the activity, and Integrated Cockpit Solutions around 40%. The
aftermarket (spares) business should contribute approximately 25% of overall
revenue. The business employs approximately 350 people at manufacturing
facilities in Costa Mesa, California and Sarasota, Florida.

"Further to Safran's decisive step into onboard power generation with the
breakthrough acquisition of Goodrich Electrical Power Systems in 2013, Eaton
Aerospace Group's electrical distribution activities are a key addition
bringing us comprehensive expertise over the overall electrical energy chain.
Labinal Power Systems, a new Safran entity formed at the beginning of the year,
affirms its position as an essential player and a world leader in electrical
power systems. In addition, the acquisition of the Cockpit Integration
Solutions activities will reinforce Sagem's commercial presence in the US."
declared Jean-Paul Herteman, Chairman and Chief Executive Officer.

Terms of the transaction

The cash consideration for the transaction amounts to USD 270 million
(approximately EUR 200 million) of which an enterprise value of USD 224 million
(approximately EUR 166 million) and future tax savings of USD 46 million
(approximately EUR 34 million) arising from the amortization for tax purposes
of goodwill and other intangible assets acquired.

The transaction, which is expected to close in the first half of 2014, is
subject to Eaton Board approval, regulatory approvals and satisfaction of other
customary closing conditions.

The Aerospace Power Distribution Management Solutions activities will be
consolidated within the Aircraft Equipment business. The Integrated Cockpit
Solutions activities will be consolidated within the Defence business.

UPCOMING EVENTS

FY 2013 results                      February 20, 2014
Q1 2014 revenue                      April 23, 2014
AGM                                  May 27, 2014

Safran is a leading international high-technology group with three core
businesses: Aerospace (propulsion and equipment), Defence and Security.
Operating worldwide, the Group has 68,000employees and generated sales of 10.5
billion euros in the first nine months of 2013. Working alone or in partnership,
Safran holds world or European leadership positions in its core markets. The
Group invests heavily in Research & Development to meet the requirements of
changing markets, including expenditure equivalent to 12% of revenue. Safran is
listed on NYSE Euronext Paris and is part of the CAC40 index.

For more information, www.safran-group.com / Follow @SAFRAN on Twitter

Press
Catherine Malek	    +33 (0)1 40 60 80 28    catherine.malek@safran.fr

Investor Relations
Peter Campbell      +33 (0)1 40 60 35 96    peter.campbell@safran.fr
Frédéric Lucand     +33 (0)1 40 60 82 19    frederic.lucand@safran.fr

                                    Safran
                        2, bd du Général Martial Valin
                         75724 Paris Cedex 15 - France

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