FOR IMMEDIATE RELEASE

CONTACT: Steve Carter
Vice President, Chief Financial Officer & Treasurer
(815) 639-6800

WOODWARD GOVERNOR COMPANY COMPLETES
ACQUISITION OF FUEL SYSTEMS TEXTRON

ROCKFORD, IL, June 22, 1998 - Woodward Governor Company
(Nasdaq: WGOV) today announced the completion of its 
previously announced acquisition of the Fuel Systems 
subsidiary of Textron Inc. (NYSE: TXT)

Fuel Systems Textron ("FST"), which generated revenues of 
$82 million in 1997, will be renamed Fuel Spray Technologies 
("FST Woodward") and operate as part of Woodward's Aircraft 
Engine Systems Group. FST is a leading manufacturer of fuel 
injection nozzles, spray manifolds, and fuel metering and 
distribution valves for gas turbine engines used in the 
aircraft (military and commercial) and industrial markets. 
In addition, it provides commercial repair and overhaul 
services to major engine operators and manufacturers.

FST currently employs about 440 people at plants located in
Zeeland, Michigan; Harvard, Illinois; and Greenville, South
Carolina. To enhance customer support and improve operating
performance, Woodward plans to integrate manufacturing 
operations at the Harvard plant into its nearby aircraft 
facility in Rockford, Illinois, over the coming year. The 
integration will be managed to ensure that all customer 
commitments are met. Most of the Harvard employees, as well 
as essentially all those in Michigan and South Carolina, are 
expected to be retained. In addition, with a few exceptions, 
FST's senior leadership team, including its president, 
Michael Boston, are expected to remain in their positions, 
with no change in responsibilities.

"We are delighted to welcome the FST team aboard," said John 
A. Halbrook, Woodward's chairman and chief executive 
officer. "FST's products greatly expand our aircraft engine 
fuel delivery system capabilities."

"This acquisition adds FST's core competency in spray 
technologies to Woodward's existing competencies in fuel 
metering, actuation and servo components," said C. Phillip 
Turner, general manager of Aircraft Engine Systems. "We 
intend to increase the scope and depth of our contributions 
to our customers' engine programs. Our ability to provide 
innovative and cost-effective products, services, and
systems will be enhanced. In fact, with this acquisition, 
the Aircraft Controls Group has changed its designation to
"Aircraft Engine Systems Group" to better reflect our
ability to serve the total engine fuel delivery market. We 
are looking forward to building upon both companies' 
excellent reputations earned through decades of outstanding 
customer service."

The purchase price of $160 million in cash was financed with 
a bank line of credit. The acquisition is expected to have 
minimal impact on Woodward's results for the fiscal year 
ending September 30, 1998, and to be nondilutive to earnings 
per share in fiscal 1999.

Woodward Governor Company, founded in 1870, provides 
innovative engine controls and fuel delivery systems 
designed for a wide variety of applications. Serving global 
markets with locations worldwide, the company is a leading 
producer of controls systems and components for aircraft and 
industrial engines and turbines. In addition to the aviation
industry, the company's products and services are used in
the marine, locomotive, large off-road vehicle, power 
generation, gas generation, and process manufacturing 
industries.



The statements in this release concerning the company's 
shipments, business performance, and prospects reflect 
current expectations and are forward-looking statements that 
involve risks and uncertainties, including changes in 
product demand, competition, effectiveness of process 
improvement programs, impact of currency exchange rate
changes, and other factors discussed in the September 30, 
1997 Annual Report and Form 10-K filed with the Securities 
and Exchange Commission.

The Woodward Governor Company designs and manufactures 
engine fuel delivery and engine controls systems, subsystems 
and components. 

Corporate headquarters are in Rockford, Illinois, with 
plants and sales offices located worldwide.