SOURCE: Woodward Governor Company

January 25, 2006 12:12 ET

Woodward Shareholders Approve Three-For-One Stock Split

ROCKFORD, IL -- (MARKET WIRE) -- January 25, 2006 -- Woodward Governor Company (NASDAQ: WGOV) reported that at today's annual shareholders meeting, shareholders approved management's recommendation to increase the number of authorized shares of common stock and to effect a three-for-one stock split. Two additional shares will be distributed for each share of common stock held at the close of business on February 1, 2006. The shares will be distributed on or about February 14, 2006.

In other activities at the meeting, the shareholders re-elected Paul Donovan, Thomas A. Gendron and John A. Halbrook to the Board of Directors for terms of three years, ratified the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the year ending September 30, 2006, and approved the Woodward Governor Company 2006 Omnibus Incentive Plan.

About Woodward

Woodward is the world's largest independent designer, manufacturer, and service provider of energy control solutions for aircraft engines, industrial engines and turbines, and power generation and mobile industrial equipment. The company's innovative control, fuel delivery, and combustion systems help customers worldwide operate cleaner, more reliable, and cost effective equipment. Woodward is headquartered in Rockford, Illinois, and serves global power generation, transportation, process industries, and aerospace markets from locations worldwide. Visit our website at

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. 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, 2005 and Form 10-Q for the quarter ended December 31, 2005, expected to be available by mid-February 2006.

Contact Information

    Robert F. Weber, Jr.
    Chief Financial Officer and Treasurer

    Woodward Governor Company
    5001 North Second Street
    P.O. Box 7001
    Rockford, IL 61125-7001
    Tel: 815-877-7441
    Fax: 815-639-6050