Mooney Airplane Company Announces Over 20% Decrease in Aircraft Construction Hours in One Month

Business Wire, Nov 5, 2003

Business Editors/Transportation Writers

KERRVILLE, Texas--(BUSINESS WIRE)--Nov. 5, 2003

Mooney Airplane Company, wholly owned subsidiary of Mooney Aerospace Group Ltd. (OTCBB:MASG), announced today that it had decreased the total number of hours required to construct a Mooney aircraft by over 20% from September to October.

J. Nelson Happy, Mooney president, reported: "The company was able to reduce the total unit hours spent constructing an aircraft from an average of 4,400 hours in September to 3,535 hours in October 2003. This is a remarkable step forward and all of our employees need to be congratulated. This is over a 20% decrease in labor hours, and will go a long way to reducing our manufacturing costs."

Robert Collier, Mooney's director of production, stated: "I am proud of our people for being able to make such a drastic reduction in labor hours. I am sure that we will be able to make further reductions as the assembly line becomes smoother. Everyone is working harder and smarter, and I believe our new systems are starting to work well."

According to Mr. Happy, "We are starting to see that our production systems are more efficient than in the past, and it is encouraging all of us to find more ways to cut costs as we go forward."

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 www.Mooney.com (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," "confident 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.

For additional information contact:

Mooney Airplane Company

J. Nelson Happy, President

Louis Schreiner Field

Kerrville, TX 78028

830-792-2917

E-mail: nhappy@mooney.com