Curtiss-Wright Signs $400 Million Credit Facility

FARNBOROUGH, England, July 23 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation (NYSE: CW; CW.B) has entered into an agreement with a group of ten banks establishing a $400 million credit facility to replace existing lines totaling $225 million. The Company plans to use the credit line for working capital purposes, internal growth initiatives, funding of possible future acquisitions and other general corporate purposes. The agreement has a five year term expiring in 2009. Banc of America Securities, LLC and J.P. Morgan Securities, Inc. served as Co-Lead Arrangers. Bank of America, N.A. is the Administrative Agent and JPMorgan Chase Bank is the Syndication Agent. The Co-Documentation Agents are SunTrust Bank and Citibank, N.A.

"Over the past two years, we have more than doubled our sales through a combination of internal growth and strategic acquisitions," said Martin R. Benante, Chairman and CEO of Curtiss-Wright. "The successful completion of this financing supports our strategic vision of continued long-term growth in each of our business segments while maintaining a strong and healthy balance sheet."

ABOUT CURTISS-WRIGHT

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 of metal treatment services. The firm employs approximately 5,000 people worldwide. More information on Curtiss-Wright can be found on the Internet at http://curtisswright2014.q4web.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, electronics, 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
    -0-                             07/23/2004
    /CONTACT:  Alexandra M. Deignan of Curtiss-Wright, +1-973-597-4734/
    /Web site:  http://curtisswright2014.q4web.com /
    (CW CWB)

CO:  Curtiss-Wright Corporation
ST:  New Jersey, England
IN:  MNG FIN
SU:

KC 
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5744 07/23/2004 08:56 EDT http://www.prnewswire.com