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FOR IMMEDIATE RELEASE                       CONTACT:  Dave Franson
- ---------------------                                 Mooney Public Relations
September 26, 2006                                    Cell 316.641.6766
                                                      dfranson1@cox.net




                       MOONEY AEROSPACE GROUP, LTD. NAMES
                     DENNIS FERGUSON CHIEF EXECUTIVE OFFICER

Kerrville, Texas-- The Board of Directors of the Mooney Aerospace Group, Ltd.
(OTC BB: MNYG.ob) today announced the appointment of Dennis E. Ferguson as CEO
of Mooney Airplane Company. His selection follows the resignation of Gretchen L.
Jahn on Tuesday, September 26th, 2006.

"We are very pleased that Dennis Ferguson is joining the Mooney team," said
Steven E. Karol, Chairman of the Mooney Aerospace Group Board of Directors.
"Dennis brings a strong background in the aviation industry and experience in
transitioning a small, entrepreneurial company into a significant force in the
marketplace. Mooney is ready to take the next step in its revitalization, having
improved its market share, operational efficiencies and brand recognition over
the past three years," he added. With the announcement of the turbo-normalized
Acclaim, in April, Mooney also regained its position as the manufacturer of the
fastest single-engine piston aircraft.

Mr. Ferguson has extensive experience within the aviation industry prior to
coming to Mooney. He spent nearly a decade as President of Airshow, Inc., an
avionics manufacturing company that provides integrated information systems and
services for business jets and commercial airlines. Prior to that, he was a Vice
President at Dynatech/Acterna Corporation, where he was responsible for
developing the company's aviation markets and growing the aviation business
unit's value.

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Mr. Ferguson introduced lean manufacturing in two plant locations, significantly
streamlining processes, reducing manufacturing costs and increasing product
quality.

Mr. Ferguson is a former member of the United States Air Force. He is a graduate
of the United States Air Force Academy, Colorado Springs, Colorado with a
Bachelor of Science (B.S.) in Engineering Science. He also received a Masters of
Science (M.S.) degree in Systems Management from the University of Southern
California, Los Angeles, California.


About Mooney Airplane Company

Mooney Airplane Company, located in Kerrville, Texas, is a wholly-owned
subsidiary of Mooney Aerospace Group, Ltd., a general aviation holding company
that is publicly traded under symbol (OTC BB: MNYG.ob). Mooney Airplane Company
currently sells three models of the M20, the high performance, four-place
single-engine piston-powered aircraft. Since its inception in 1946, the company
has manufactured and delivered more than 11,000 aircraft worldwide. Today, 7,000
customers in the United States and 1,000 more overseas fly these proven,
high-performance airplanes. For more information, visit www.mooney.com.


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when used in the preceding discussion, the words "plan," "confident that,"
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statements are subject to certain risks and uncertainties and actual results
could differ materially from those expressed in any of the forward-looking
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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.