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Woodward to Build More PurePower Fuel Nozzles for New Airliners and Aftermarket

FORT COLLINS, CO -- (Marketwired) -- 01/06/14 -- Woodward, Inc. (NASDAQ: WWD) today announced that it has entered into an agreement with Pratt & Whitney to expand its production of advanced fuel nozzles for the PurePower PW1000G family of Geared Turbofan™ engines. Under the agreement, Woodward will supply fuel nozzles both for installation in new PurePower engines and for use in the aftermarket service of the engines.

PurePower PW1000G engines will equip a variety of aircraft including the Airbus A320neo, Bombardier CSeries and Embraer's EJets E2 family. The first production fuel nozzles will be delivered later this year.

"Woodward is happy to solidify a long-term relationship as part of the PurePower engine family with our advanced fuel nozzles," says Sagar Patel, president of Woodward's Aircraft Turbine Systems business. "The new agreement allows Woodward to deliver reliable, effective components to Pratt & Whitney for the life of the PurePower program."

The companies signed a fuel nozzle contract in 2008 for the development and initial production run of new PurePower engines until 2021. Woodward previously has been awarded contracts to provide other components for PurePower engines via other Pratt & Whitney contractors. Including aftermarket service, the PurePower engine program currently is expected to extend into the 2040s. Approximately 220 people are employed at Woodward's Zeeland, Mich., facility, where the PurePower engine's fuel nozzles will be manufactured.

About Woodward

Woodward, Inc. is an independent designer, manufacturer, and service provider of control system solutions for the aerospace and energy markets. The company's innovative fluid, combustion, electrical, and motion control systems help customers offer cleaner, more reliable, and more efficient equipment. Woodward is a global company headquartered in Fort Collins, Colorado. For more information, visit our website at www.woodward.com, and connect with us at www.facebook.com/woodwardinc.

About Pratt & Whitney

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and building industries.

The statements in this release concerning the company's future sales, earnings, business performance, prospects, and the economy in general reflect current expectations and are forward-looking statements that involve risks and uncertainties. Such forward-looking statements include but are not limited to Woodward's expectations that: including aftermarket service, the PurePower engine program currently is expected to extend into the 2040s; the new agreement allows Woodward to deliver reliable, effective components to Pratt & Whitney for the life of the PurePower program; under the agreement, Woodward will supply fuel nozzles both for installation in new PurePower engines and for use in the aftermarket service of the engines; PurePower PW1000G engines will equip a variety of aircraft including the Airbus A320neo, Bombardier CSeries and Embraer's EJets E2 family; the first production fuel nozzles will be delivered later this year; and that Woodward is solidifying a long-term relationship as part of the PurePower engine family with Woodward's advanced fuel nozzles. Actual results could differ materially from projections or any other forward-looking statement and we have no obligation to update our forward-looking statements. Factors that could affect performance and could cause actual results to differ materially from projections and forward-looking statements are described in Woodward's Annual Report and Form 10-K for the year ended September 30, 2013 and any subsequently filed Quarterly Report on Form 10-Q.

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