Curtiss-Wright Completes Sale of Fairfield, NJ Property

Curtiss-Wright Completes Sale of Fairfield, NJ Property 


ROSELAND, N.J., March 21  /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation
(NYSE: CW; CW.B) has completed the sale of its Fairfield, New Jersey, property
to CRG 300, LLC for $10.5 million.  It is estimated that the sale will result
in a non-recurring net gain after tax of $1.6 million, or $0.08 per diluted
share, and net cash proceeds of $6.4 million.  The property encompasses
approximately 39 acres and was formerly an operating facility for the Company's
Motion Control segment located in Shelby, North Carolina. Curtiss-Wright will
retain the responsibility to continue environmental remediation efforts on the
property, which is currently anticipated to be between three to five years.

Martin R. Benante, Chairman and CEO of Curtiss-Wright, stated, "The sale of the
Fairfield property is part of our long-term strategy to redeploy certain assets
on our balance sheet and dispose of non-core real estate holdings and this sale
disposes of our last non-operating real estate holding. The proceeds will be
used to fund future growth in our operating businesses."

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified company headquartered in Roseland,
New Jersey.  The Company designs, manufactures and overhauls products for
motion control and flow control applications, and provides a variety of metal
treatment services.  The firm employs approximately 5,600 people worldwide. 
More information on Curtiss-Wright can be found on the Internet at
http://www.curtisswright.com/ .

Forward-looking statements in this release are made pursuant to the Safe Harbor
provisions of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those expressed or
implied. Readers are cautioned not to place undue reliance on these forward-
looking statements, which speak only as of the date hereof. Such risks and
uncertainties include, but are not limited to: a reduction in anticipated
orders; an economic downturn; changes in competitive marketplace and/or
customer requirements; a change in government spending; an inability to perform
customer contracts at anticipated cost levels; and other factors that generally
affect the business of aerospace, defense contracting, marine, electronics and
industrial companies. Please refer to the Company's current SEC filings under
the Securities and Exchange Act of 1934, as amended, for further information. 

DATASOURCE: Curtiss-Wright Corporation



CONTACT:  Alexandra M. Deignan, [phone], for Curtiss-Wright

Corporation



Web site:  http://www.curtisswright.com/ 

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