Curtiss-Wright Awarded $30.8 Million Contract For The US Army's Electromagnetic Gun - - - Flow Control Segment Prime Contractor for Key Technology Program

ROSELAND, N.J., July 28 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation (NYSE: CW; CW.B) was awarded a 36-month, $30.8 million contract for the design, development, build and test of a compact pulsed power supply in support of the US Army's Electromagnetic Gun (EM gun) Technology Maturation and Demonstration program. Curtiss-Wright's Flow Control segment will act as prime contractor with responsibility for the overall machine design.

As the first step in the progression towards a fully fieldable electromagnetic weapon system, the pulsed power supply is a key component of EM gun technology envisioned to be part of the weapon systems of the future. Beyond the initial three-year technology demonstration program, the program presents significant additional development opportunities for all aspects of the EM Gun through the next decade.

The Pulsed Power Supply (PPS) consists of two counter-rotating machines capable of supporting the high power density requirements necessary to achieve target defeat using kinetic energy projectiles launched at high speed. The use of pulsed power involves the storage of energy mechanically and converting it on demand to electrical energy sufficient to achieve projectile velocities not possible through the use of traditional chemical propellants. Added advantages include reduced space requirements for projectiles, elimination of the explosive propellant, and synergy with the electric propulsion goals of the US Army.

"We are pleased to support the US Army's agenda to utilize EM gun technology as a cornerstone of future combat systems," said Martin R. Benante, Chairman and CEO of Curtiss-Wright. "We are excited about this opportunity as it places Curtiss-Wright in a strong leadership position in the application of pulsed power to support the strategic objectives and needs of all of the United States Armed Forces, including the Army, Marine Corps and Navy."

Team members on this program include the University of Texas at Austin Center for Electromechanics, Lockheed Martin Missiles and Fire Control in Dallas, TX and Silicon Power Corporation of Exton, PA.

About Curtiss-Wright

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 provides of metal treatment services. The firm employs approximately 5,100 people worldwide. More information on Curtiss-Wright can be found on the Internet at http://curtisswright2014.q4web.com.

About Curtiss-Wright Flow Control

Headquartered in Farmingdale, New York, Curtiss-Wright Flow Control ("CWFC") is the flow control segment of Curtiss-Wright Corporation. Founded in 1951, CWFC specializes in the design and manufacture of highly engineered valves, pumps and related products for naval propulsion systems. Today, CWFC's sophisticated products are installed on every nuclear submarine and aircraft carrier commissioned by the United States Navy and an integral part of worldwide commercial nuclear power plants, oil and gas processing facilities, automotive and general industrial markets. For more information, visit http://www.cwfc.com.

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, electronics 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.

SOURCE  Curtiss-Wright Corporation
    -0-                             07/28/2004
    /CONTACT:  Alexandra M. Deignan of Curtiss-Wright Corporation,
+1-973-597-4734/
    /Web site:  http://curtisswright2014.q4web.com /
    (CW CWB)

CO:  Curtiss-Wright Corporation
ST:  New Jersey
IN:  ARO
SU:  CON


MP 
-- NYW181 --
5482 07/28/2004 16:48 EDT http://www.prnewswire.com