Curtiss-Wright Signs Definitive Agreement to Acquire Synergy Microsystems

Further Strengthens Embedded Computing Position in Worldwide Military and Commercial Markets

ROSELAND, N.J., Aug. 18 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation (NYSE: CW; CW.B) signed a definitive purchase agreement to acquire the assets of Synergy Microsystems, Inc. ("Synergy") for $49 million in cash. A leading provider of embedded computing solutions for military and commercial markets, Synergy will enhance Curtiss-Wright's current product offerings and strengthen its position in the commercial, industrial and medical markets. The company will operate as a business unit of the Motion Control segment of Curtiss-Wright based in Gastonia, NC.

Synergy designs, manufactures and integrates commercial-off-the-shelf (COTS) embedded computing products such as single board computers (SBC), digital signal processing cards (DSP), multi-computing solutions, and related software and support. Founded in 1985, Synergy is an innovator in real-time embedded computing solutions with 100% proprietary products and significant software development expertise that has resulted in a strong history of design wins and pipeline of development projects in diversified markets. For the year 2004, Synergy's aggregate sales are expected to be $23 million.

"The acquisition of Synergy solidifies Curtiss-Wright's market leadership in embedded computing by expanding our technological expertise and further diversifying our product offerings into a broad array of military platforms and commercial and industrial markets," said Martin R. Benante, Chairman and CEO of Curtiss-Wright. "The scope and depth of our existing embedded computing group will provide Synergy with the foundation to develop its pipeline of new product introductions currently under development."

Mr. Benante continued, "Recently, the Motion Control segment, Curtiss- Wright Controls, reorganized into three new business groups in order to maximize product innovation and system integration. These three units- Engineered Systems, Embedded Computing and Integrated Sensing-combined the Curtiss-Wright Controls' family of companies into major industry segments which provides opportunities to cross-market products under one Curtiss-Wright brand. Our embedded computing technology, as well as many of the existing technologies across our three business segments, are only at the beginning of their maturation point, which should provide the company with many opportunities and our shareholders with higher returns in the near term and for the foreseeable future."

Within the defense market, Synergy's key product applications include avionics, radar, sonar, ground control and autonomous vehicles. This acquisition will add content on platforms currently supported by Curtiss- Wright, such as the Future Combat System, Joint Strike Fighter and Predator Unmanned Aerial Vehicle, and provide access to new platforms, such as Raytheon's Improved Target Acquisition System (ITAS), MH-53 helicopter upgrade, and Trident submarine. In the commercial markets, key product applications include semiconductor manufacturing, flight simulation, oil and gas exploration, industrial process control, and medical imaging.

Synergy's customers include Northrop Grumman, Raytheon, Lockheed Martin, General Dynamics, United Defense, Boeing, Applied Materials and L-3 Communications. Synergy employs 110 people at its facilities in San Diego, CA, and Tucson, AZ.

ABOUT CURTISS-WRIGHT CORPORATION

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 a variety of metal treatment services. The firm employs approximately 5,100 people worldwide. The company is celebrating its 75th anniversary in 2004. More information on Curtiss-Wright can be found on the Internet at http://curtisswright2014.q4web.com.

ABOUT CURTISS-WRIGHT CONTROLS, INC.

Headquartered in Gastonia, North Carolina, Curtiss-Wright Controls is the Motion Control segment of Curtiss-Wright Corporation. With manufacturing facilities in Gastonia and Shelby, NC, and around the world, Curtiss-Wright Controls is a leading technology-based organization providing niche motion control products, embedded computers, subsystems and services internationally. For more information, visit http://www.cwcontrols.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, 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

CONTACT: Alexandra Magnuson,
+1-973-597-4734,
for Curtiss-Wright Corporation