Mooney Airplane Company Delivers Eight Aircraft in First Quarter, Builds Backlog for Future Delivery

Business Wire, April 12, 2004

Business Editors/Transportation Writers

KERRVILLE, Texas--(BUSINESS WIRE)--April 12, 2004

Mooney Airplane Company, wholly owned subsidiary of Mooney Aerospace Group Ltd. (OTCBB:MASG), announced today that during the first quarter of 2004 is delivered eight new aircraft: six Ovation 2 DX and two Bravo DX models. In addition, the company has a backlog of 10 aircraft for future delivery.

J. Nelson Happy, Mooney's president, remarked: "Our sales team is doing a great job of selling new Ovation 2 DX, Bravo DX and our new GX models which are equipped with the Garmin-G 1000 glass panel avionics. We are also pleased with the quality of the aircraft that we are manufacturing and look forward to increasing sales and deliveries throughout the remainder of the year."

Nicolas Chabbert, Mooney's executive vice president of marketing and sales, commented: "Our customers are showing a great deal of interest in both the GX and DX models. I am pleased that we are able to offer both the conventional instruments and the glass panel, as there are two kinds of pilots and we can provide each type with what they want."

Mooney Airplane Company, a wholly owned subsidiary of Mooney Aerospace Group Ltd., is a general aviation holding company, located in Kerrville, Texas. Mooney currently sells five models; the highest performing four-place single engine piston powered aircraft, the Bravo DX, which is available with the Garmin G-1000 glass panel display as the GX; and its stablemates, the highly rated Ovation2 DX and GX, and the economical Ovation. Mooney is celebrating is 51st anniversary in Kerrville, Texas, this year, where it has manufactured more than 10,000 aircraft which have been delivered worldwide. Complete information about Mooney aircraft is available at 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.