Mooney Aerospace Group Reports Revenues of Over $2.3 Million for November 2003, A 21% Increase from October 2003 Revenue; Company Delivers 5 New Airplanes in Month

Business Wire, Dec 10, 2003

Business Editors/Transportation Writers

KERRVILLE, Texas--(BUSINESS WIRE)--Dec. 10, 2003

Mooney Aerospace Group Ltd. (OTCBB:MASG) announced today that its revenue increased from $1,881,000 in October to $2,359,000 in November, a 21% increase. The company completed and delivered five new Mooney airplanes in November. Four of the aircraft are Ovation2 DX models, and one is a Bravo DX.

J. Nelson Happy, Mooney President, stated: "November deliveries were the second highest monthly since we resumed production. I believe that this success firmly establishes that we are now producing airplanes on a scheduled basis and our assembly line is working smoothly. Most importantly, it shows that we can meet our business plan on a consistent basis."

Robert Collier, Mooney's Director of Operations, observed: "Our people are working at top form and are putting their all into quality. We have never built better airplanes than we are building now."

Mooney Aerospace Group Ltd. is a general aviation holding company that owns Mooney Airplane Co., located in Kerrville, Texas. Mooney currently sells three models; the highest performing four-place single engine piston powered aircraft, the Bravo DX, and its stablemates, the highly rated Ovation2 DX, and the economical Ovation. Mooney is celebrating its 50th Anniversary in Kerrville, Texas this year, where it has manufactured more than 10,000 aircraft that have been delivered worldwide. Complete information about Mooney aircraft is available at http://www.Mooney.com.

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confidant that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the Company's products, general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.