CAE secures five-year US$400 million and (euro) 100 million credit facility

(NYSE: CGT; TSX: CAE) - CAE today
concluded an agreement for a committed five-year revolving credit facility of
US$400 million and (euro) 100 million, to replace its existing facility due to
expire in April 2006.

Scotia Capital, BNP Paribas and WestLB AG are lead arrangers for the new
credit facility, which includes a syndicate of 15 Canadian, U.S. and
international banks.

"Our bankers have shown confidence by oversubscribing to this financing,
and we are encouraged by their five-year commitment. We are also pleased to
have secured comparable terms and conditions to our previous agreement," said
Alain Raquepas, CAE's Chief Financial Officer. "Our restructuring efforts have
gone a long way to strengthen CAE's financial position. While many challenges
remain in this transition year, we hope to position the Company well for
fiscal year 2007 and beyond."

The new revolving credit facility will expire in July 2010. It maintains
CAE's borrowing flexibility, while recognizing the Company's normal use of
operating leases and project financings.

CAE is a leading provider of simulation and modelling technologies as
well as integrated training services for commercial and business aviation, and
defence customers worldwide. The company has annual revenues of approximately
C$1 billion, with operations and training facilities in 17 countries on five
continents.

For further information: Media contacts: Nathalie Bourque, Vice
President, Global Communications, (514) 734-5788,
nathalie.bourque@cae.com ; Anne von Finckenstein, Manager, Public
Relations, (514) 340-5370, anne.vonfinckenstein@cae.com ; Investor
relations: Andrew Arnovitz, Director, Investor Relations, (514) 734-5760,
andrew.arnovitz@cae.com ; On the Web:

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