AGREEMENT SIGNED TO PURCHASE ASSETS OF NORTHROP GRUMMAN'S POLY-SCIENTIFIC DIVISION

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AGREEMENT SIGNED TO PURCHASE ASSETS OF NORTHROP GRUMMAN'S POLY-SCIENTIFIC DIVISION
15 August 2003 - Moog Controls

Moog Inc. announced today the signing of an Agreement to acquire the assets of Northrop Grumman Corporation's (NYSE:NOC) Poly-Scientific Division. Poly-Scientific is a manufacturer of motion control and data-transmission devices. Its principal products are electrical and fiber-optic slip rings, brushless D. C. motors, and electromechanical actuators.

Poly-Scientific has annual sales in excess of $130 million and employs about 1,000 people in three locations: Blacksburg, Virginia, Springfield, Pennsylvania, and Murphy, North Carolina. Poly-Scientific was founded 50 years ago and was acquired in the early 1960's by Litton Industries, Inc. Litton subsequently acquired Clifton Precision and merged it with Poly-Scientific Division. Northrop Grumman acquired Litton Industries in 2001.

About two-thirds of Poly-Scientific sales come from aerospace and defense markets and the balance are industrial. Nearly half of the company's industrial products are used in medical equipment.

Presuming receipt of all required regulatory approvals, Moog expects the acquisition will close on September 29, 2003.

'Poly-Scientific brings to Moog a broad portfolio of products and technologies, many of which are an excellent fit with Moog's current product base,' said R. T. Brady, Chairman & C.E.O. 'We look forward to a long and productive association with the folks who make up the Poly-Scientific organization.'

Moog Inc. is a worldwide manufacturer of precision control components and systems. Moog's high-performance actuation products control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles and automated industrial machinery.

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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