Woodward Awarded PurePower(R) Engine Components by Hamilton Sundstrand

FORT COLLINS, CO -- (Marketwire) -- 07/23/12 -- Woodward, Inc. (NASDAQ: WWD) today announced that Hamilton Sundstrand, a subsidiary of United Technologies Corp. (NYSE: UTX), selected Woodward as a provider of specific engine components for the newest models of the Pratt & Whitney PurePower® engine program. Woodward will provide Hamilton Sundstrand high- and low-pressure stator vane actuators, a bleed valve actuator, an oil valve package, fuel flow divider and return-to-tank valve.

The current award is associated with specific design requirements for new PurePower engine applications on single-aisle aircraft:

• PW1100G-JM, offered by Airbus as an option for its A320neo airliner, and
• PW1400G, selected by Irkut exclusively for the MS-21 aircraft.

This award builds on prior Woodward awards for the PurePower engine family, including actuation and oil valve components for the PW1500G for the Bombardier CSeries single-aisle aircraft family, and the PW1200G engine for the Mitsubishi Regional Jet, as well as an advanced turbofan engine. Woodward previously announced the award by Pratt & Whitney of fuel nozzles for the PurePower family of engines.

"Woodward is pleased to supply components as part of Hamilton Sundstrand's propulsion control systems for the PurePower engine family, and to grow our collaborative relationship," said Sagar Patel, President, Woodward Aircraft Turbine Systems. "The popular Airbus A320neo program is addressing the industry's need for improved fuel efficiency, and we are excited to be a part of it."

About Woodward, Inc.

Woodward is an independent designer, manufacturer, and service provider of control solutions for the aerospace and energy markets. Our aerospace systems and components optimize the performance of fixed wing and rotorcraft platforms in the commercial, business and military aircraft, ground vehicles and other equipment. Our energy-related systems and components enhance the performance of industrial gas and steam turbines, reciprocating engines, compressors, wind turbines, electrical grids and other energy-related industrial equipment. The company's innovative fluid energy, combustion control, electrical energy, and motion control systems help customers offer cleaner, more reliable and more efficient equipment. Our customers include leading original equipment manufacturers and end users of their products. Woodward is headquartered in Fort Collins, Colorado, USA. Visit our website at www.woodward.com.

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, including but not limited to the expectation that Woodward will provide Hamilton Sundstrand high- and low-pressure stator vane actuators, a bleed valve actuator, an oil valve package, fuel flow divider, and return-to-tank valve. 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, 2011 and any subsequently filed Quarterly Report on Form 10-Q.