Exhibit 99.2

            Esterline to Acquire Leach Holding Corporation;
         Latest Aerospace Transaction to Increase Esterline's
                      Annualized Revenues by 20%

    BELLEVUE, Wash.--(BUSINESS WIRE)--July 9, 2004--Esterline
Corporation (NYSE:ESL) today announced an agreement to acquire Leach
Holding Corporation for approximately $145 million in cash. The
acquisition, the largest in Esterline's corporate history, will add
nearly 20%, or $120 million, to the company's current annualized
revenue base of approximately $600 million.
    The transaction significantly expands the scale of Esterline's
existing aerospace operations and fits the company's strategic
acquisition approach. "Leach fits our stated strategy to consolidate
manufacturers of superior aerospace components," said Robert W.
Cremin, Esterline's chief executive officer. "The size, synergy and
financials make Leach a perfect fit for Esterline." Cremin said the
transaction is the latest step in the company's drive to "... expand
the toolbox of solutions Esterline brings to its customers."
    Leach is a leading producer of high-performance electromechanical
relays, solid-state switching devices and advanced power distribution
assemblies for aerospace applications. The company comprises three
operations -- two aerospace and one medical -- located in seven
manufacturing plants in North America, Europe and Asia, employing more
than 1,000 people. The majority of Leach's operations are aerospace
related with a smaller portion devoted to medical.
    Cremin said that Leach is a healthy, profitable business and all
of its operations have "... strong engineering teams and world-class
technologies. In aerospace, Leach maintains solid positions on
literally every key platform in the industry." He added that
Esterline's resources and solid aerospace/defense and medical market
positions "... will help Leach benefit from growth opportunities,
particularly those that are beginning to present themselves as markets
improve."
    Completion of the transaction is expected in early August,
contingent upon Hart-Scott-Rodino and other governmental approvals.
Esterline was advised in this transaction by Jefferies Quarterdeck, a
division of Jefferies & Company, Inc.; Leach was advised by Wachovia
Securities.
    Esterline will conduct a conference call to discuss the
transaction this morning, July 9, 2004, at 8:00 a.m. PDT (11 a.m.
EDT). Listeners may access the conference call live over the Internet
at the following locations: www.esterline.com and www.ccbn.com.

    About Esterline:

    Esterline Corporation is a specialized manufacturing company
serving principally aerospace/defense and medical markets.
Approximately 80% of total revenues are generated from
aerospace/defense markets; the remaining 20% is derived from the
application of these technologies into other markets, most notably
medical. Esterline management views the company's businesses in three
segments related to its set of core competencies: Avionics & Controls,
Sensors & Systems, and Advanced Materials.
    Operations within the Avionics & Controls segment focus on
technology interface systems for commercial and military aircraft and
similar devices for land- and sea-based military vehicles, secure
communications systems, specialized medical equipment, and other
high-end industrial applications. The Sensors & Systems segment
includes operations that produce high-precision temperature and
pressure sensors, fluid and motion control components, and other
related systems principally for aerospace and defense customers.
Advanced Materials focuses on process-related technologies, including
high-performance elastomer products used for a wide range of military
and commercial aerospace purposes and combustible ordnance and
electronic warfare countermeasure products.

    This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on the current intent and
expectations of the management of Esterline, are not guarantees of
future performance, and involve risks and uncertainties that are
difficult to predict. Esterline's actual results and the timing and
outcome of events may differ materially from those expressed in or
implied by the forward-looking statements due to changes in the
aerospace/defense industry and other risks detailed in the company's
public filings with the Securities and Exchange Commission, including
the company's Annual Report on Form 10-K for the year ended October
31, 2003.


    CONTACT: Esterline Corporation
             Brian D. Keogh, 425/453-9400