Woodward Schedules Third Fiscal Quarter Earnings Release and Conference Call

ROCKFORD, Ill.--July 19, 2004--Woodward Governor Company announced today it expects to report its third fiscal quarter earnings at approximately 5:30 p.m. CT on Monday, July 26, 2004. A news release will be issued at that time and an investor conference call will be held the next morning (Tuesday, July 27, 2004) at 7:30 a.m. CT.

In the conference call, the company will provide an overview of its third fiscal quarter financial performance, business highlights, and outlook. You are invited to listen to the call live via the company's website, www.woodward.com, on July 27. The call will remain accessible at the website for thirty days.

You may also listen to the call by dialing 888-202-2422 (domestic) or 913-981-5592 (international). Participants should call prior to the start time to allow for registration; the conference call reference is "Woodward." An audio replay will be available by telephone from 9:30 a.m. CT on July 27 until 10:59 p.m. CT on July 30, 2004. The telephone number to access the replay is 888-203-1112 (domestic) or 719-457-0820 (international), reference pass code 255780.

About Woodward

Woodward is the world's largest independent designer, manufacturer, and service provider of energy control solutions for aircraft engines, industrial engines and turbines, power generation, and process automation equipment. The company's innovative control, fuel delivery, combustion, and automation systems help customers worldwide operate cleaner, more cost effective, and more reliable equipment. Woodward is headquartered in Rockford, Illinois, and serves global markets from locations worldwide. Visit our web site at www.woodward.com.