O.S.S. Capital Management LP
     598 Madison Avenue
     New York, NY 10022-1603
     Tel. (212) 756-8700
     Fax. (212) 756-8701

                                                                    March 9,2007



Mr. David Berges
Chairman and Chief Executive Officer
Hexcel Corporation
Two Stamford Plaza
281 Tresser Boulevard
Stamford, CT 06901

Dear David:

As a long-term  shareholder  of Hexcel,  we are  concerned  about the  company's
operating  performance relative to its peers and with management's apparent lack
of concern about this matter.  Although Hexcel's operating margin expansion from
7% in 2002 to 10% in 2006 seems  respectable,  a different  picture emerges when
this performance is benchmarked against other industry competitors.

Specifically, Cytec Industries' Engineered Materials segment generated operating
margins of 18%, and the difference is even more pronounced at Toray  Industries.
For the nine months ended December 2006, Toray's Composite Materials segment had
operating  margins  of over  25%.  In the past,  you have  said that the  margin
discrepancy  between Hexcel and its competitors was due to corporate  allocation
nuances  and/or  product-mix  issues.  However,  after  conducting  an extensive
industry  analysis,  including  talking to public and  private  competitors,  we
believe the lower margins are due to mismanagement of the company.

Had Hexcel achieved operating margins of only 17% on its 2006 revenues, the
company would have earned an additional $78 million in operating income.
Applying the current 17x multiple of enterprise value to operating income, this
difference would result in a value increase of more than one billion dollars.
Therefore, at current margins of lo%, shareholders are "forgoing" over $14.00
per share.

You do not seem  concerned  about this gap.  Although  management has outlined a
future target of mid-teens  operating margins,  by the time the company achieves
this goal it will still be underperforming  its competition.  The management and
the  Board  must  develop  a plan of  action  for  closing  the gap;  if you are
unwilling  or  unable  to do this,  then it is  incumbent  on the  Board to seek
strategic  alternatives  and/or  sell to a buyer that can run the  company  more
profitably.

On a final note,  it is our  understanding  that Mr.  Martin L.  Solomon will be
stepping  down as a Director of Hexcel in May.  We have a candidate  in mind who
would be a valuable  addition to the Board and would like to submit him for your
consideration.

We look forward to your response.

Sincerely,

----------------------       -----------------------       ---------------------
Oscar S. Schafer                 Andrew J. Goffe              Peter J. Grondin



cc:      Joel S. Beckman
         H. Arthur Bellows
         Lynn Brubaker
         Jeffrey C. Campbell
         Sandra L. Derickson
         David C. Hurley
         David L. Pugh