MEMORANDUM OF AGREEMENT ANNOUNCED BY MOOG

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MEMORANDUM OF AGREEMENT ANNOUNCED BY MOOG
07 June 2005 - Moog Controls

Moog Inc. announced today the signing of an agreement to acquire FCS Control Systems. FCS is a designer and manufacturer of high-fidelity electromechanical and electrohydraulic flight and vehicle simulation equipment, and structural test systems that are supplied to the aerospace and automotive markets.

FCS had annual sales of $24 million in 2004 and currently employs approximately 100 people. Its primary location is in Amsterdam, Holland. FCS traces its origins to 27 years ago when a small group of engineers working for Fokker Aircraft developed a technology for control loading systems used in flight training simulators. These systems allowed trainees to move a control stick and pedals and to have the same feel as if they were actually flying an airplane. In 1999, the FCS engineers took their part of the company private in a management buy out.

About half of FCS's current sales are generated from flight simulation and driver training markets primarily in Europe and the U.S. The majority of the other half of their sales are generated by test equipment designed for the aerospace industry, primarily in Europe. These two product lines are expected to directly complement Moog's simulation and test products which had combined revenues in 2004 of $26 million and which were sold mostly into North American markets.

Moog expects that the acquisition will close in the middle of August 2005, pending satisfaction of all conditions to closing. The company will use existing cash balances and a revolving credit facility to make the purchase and expects the acquisition to be slightly accretive to earnings within the first year. The new business will be reported as part of the company's Industrial segment.

'Every once in awhile,' said R.T. Brady, Chairman and CEO, 'an acquisition opportunity presents itself wherein the prospect has a profitable business serving markets that we serve, has some products that are comparable to ours, and some products that we'd like to have, and has a staff of bright, interesting people that we'd love to have as part of our company. FCS Control Systems is one of them.'

http://www.moog.co.uk

About: Moog Controls
Moog Controls started life in the UK in October 1965 as Moog Hydra-Point, based in Cheltenham, England. This new subsidiary was set up to manufacture and market the Moog Hydra-Point machines in the UK, South Africa and European common market.

Nearly 40 years later, not only does MCL manufacture a suite of products for motion control applications, they are also active in the design and development of new and innovative solutions for precision control problems. Our team of highly skilled engineers can provide project support to assist our customers in the performance of a wide variety of applications including, motion simulators for training and entertainment, industrial gas turbine controls, plastics machinery controls, heavy industry, metal forming & pressing, and commercial and military ground vehicle controls.

All Moog subsidiaries are represented by regional sales engineers backed by comprehensive product and engineering support teams. Add to this the global presence of Moog and you are ensured a competent partner to deliver and service you and your customers needs.

MCL employs over 270 people on its Tewkesbury site, accommodated in 3 buildings, producing over 21,500 servovalves per annum.

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