Revenues of Over $6.3 Million for 3Q-2003, a 480% Increase Over 3Q-2002

Mooney Aerospace Group Ltd. tells ANN that the company recorded over $6.3 million in revenue for the third quarter of 2003, ending September 30, 2003.

Quarterly revenues were a 480% increase for the $1.3 million in sales recorded in the third quarter of 2002. Fourteen airplanes were delivered during the third quarter, and additional revenue from parts and service amounted to approximately $.6 million of the $6.3 million total.

J. Nelson Happy, Mooney president, remarked: "The sharp increase in revenue for the quarter reflects a growing demand for Mooney aircraft, and an increased capability of our plant to produce airplanes. I believe that we should see a record fourth quarter as well. All of our aircraft are sold for November delivery, and I expect that we will sell out the remaining planes we can build in December. Our employees are working overtime, nights and weekends to build as many planes as possible for delivery in 2003."

Nicolas Chabbert, executive vice president of marketing and sales, commented: "Our customers are really pleased with the quality of the Mooney airplane. Interest in the Ovation2 DX and the Bravo DX has been at a high level since the summer. I think marketing and sales will have an excellent fourth quarter in 2003."

FMI: www.Mooney.com