Curtiss-Wright Corporation Announces Two-For-One Stock Split And Dividend Increase of 20%

ROSELAND, N.J., Nov. 18 /PRNewswire-FirstCall/ -- The Board of Directors of Curtiss-Wright Corporation (NYSE: CW; CW.B) today declared a two-for-one split of the company's Common Stock and Class B Common Stock in the form of a stock dividend. As a result, shareholders will receive an additional common share for every share held on the December 5, 2003 record date. Distribution of these shares will begin on December 17, 2003.

In addition, the Board of Directors declared a 20% increase in its dividend payout for the fourth quarter of 2003. The quarterly cash dividend will be increased on a pre-split basis to $0.18 per share. This dividend is payable on December 17, 2003 to shareholders of record on December 5, 2003.

"Curtiss-Wright has achieved significant improvements in operating earnings and cash flow over the last several years while maintaining a solid balance sheet," said Martin Benante, Chairman and CEO. "The stock split and dividend increase reflect our confidence in the company's ability to continue to deliver strong revenue and profitability growth as we execute our strategic plan. And, it is befitting that the stock split coincides with the Centennial Anniversary of the First Flight by our corporate forefathers, the Wright brothers."

The most recent Curtiss-Wright stock split occurred in 1997. As of October 31, 2003, the company had 5,973,508 Common Shares and 4,382,123 Class B Common Shares outstanding.

Curtiss-Wright Corporation is a diversified company headquartered in Roseland, New Jersey. The company designs, manufactures and overhauls products for motion control and flow control applications and is a provider of metal treatment services. The firm employs approximately 4,300 people. More information on Curtiss-Wright can be found on the Internet at curtisswright2014.q4web.com.

About the Centennial Celebration of Flight

On December 17, 1903, amid the sand dunes of Kitty Hawk, North Carolina, man's quest for powered flight became a reality when a small fabric and wood craft known as the Wright Flyer ushered in the aviation age. The team behind this legendary event, Orville and Wilbur Wright, along with aircraft designer Glenn Curtiss, gave birth to a new industry and founded Curtiss-Wright Corporation, today a multinational provider of metal treatment, motion control and flow control systems for the aerospace and defense industries. For more information about the Centennial Celebration of Flight, visit curtisswright2014.q4web.com/centennial.asp.

Forward-looking statements in this release are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date hereof. Such risks and uncertainties include, but are not limited to: a reduction in anticipated orders; an economic downturn; changes in competitive marketplace and/or customer requirements; a change in government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, marine, and industrial companies. Please refer to the Company's current SEC filings under the Securities and Exchange Act of 1934, as amended, for further information.

This press release and additional information is available at curtisswright2014.q4web.com and www.portfoliopr.com.

SOURCE Curtiss-Wright Corporation

CONTACT:
Glenn E. Tynan,
CFO of Curtiss-Wright,
+1-973-597-4700,l
or Pau Holm,
[email protected]
and Matthew Karsh,
[email protected],
+1-212-736-9224, for Curtiss-Wright