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Tue, Sep 26, 2006

Mooney: Jahn Resigns, Ferguson Replaces As CEO

Mooney Aerospace Group, Ltd. Names Dennis Ferguson Chief Executive Officer

The Board of Directors of the Mooney Aerospace Group, Ltd. tells ANN that Dennis E. Ferguson has been appointed CEO of Mooney Airplane Company. His selection follows the resignation of Gretchen L. Jahn (pictured below) today, September 26th, 2006.

"We are very pleased that Dennis Ferguson is joining the Mooney team," said Steven E. Karol, Chairman of the Mooney Aerospace Group Board of Directors.

"Dennis brings a strong background in the aviation industry and experience in transitioning a small, entrepreneurial company into a significant force in the marketplace. Mooney is ready to take the next step in its revitalization, having improved its market share, operational efficiencies and brand recognition over the past three years," he added. With the announcement of the turbo-normalized Acclaim, in April, Mooney also regained its position as the manufacturer of the fastest single-engine piston aircraft.

Mr. Ferguson has extensive experience within the aviation industry prior to coming to Mooney. He spent nearly a decade as President of Airshow, Inc., an avionics manufacturing company that provides integrated information systems and services for business jets and commercial airlines. Prior to that, he was a Vice President at Dynatech/Acterna Corporation, where he was responsible for developing the company's aviation markets and growing the aviation business unit's value.

Mr. Ferguson introduced lean manufacturing in two plant locations, significantly streamlining processes, reducing manufacturing costs and increasing product quality.

Mr. Ferguson is a former member of the United States Air Force. He is a graduate of the United States Air Force Academy, Colorado Springs, Colorado with a Bachelor of Science (B.S.) in Engineering Science. He also received a Masters of Science (M.S.) degree in Systems Management from the University of Southern California, Los Angeles, California.

FMI: www.mooney.com

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