WGOV Woodward Governor Company (MM)

Woodward Governor Company (NASDAQ: WGOV) today filed an automatically effective universal shelf registration statement on Form S-3 with the Securities and Exchange Commission. This registration statement will allow the company to sell an unspecified amount of its common stock, preferred stock, warrants, debt securities, rights, depositary shares, and other hybrid securities or any combination of these securities from time to time in one or more future offerings.

Robert F. Weber, Jr., Chief Financial Officer and Treasurer, said, "While Woodward has no immediate plans to access the capital markets, we want to be prepared for any opportunity that may require additional financial resources."

This news release shall not constitute an offer to sell or the solicitation of an offer to buy such securities, nor shall there be any sale of such securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under applicable law. A prospectus supplement will describe the terms of any particular offering made under the universal shelf registration statement.

About Woodward

Woodward is an independent designer, manufacturer, and service provider of energy control and optimization solutions used in global infrastructure equipment. We serve the aerospace and defense, power generation and distribution, and transportation markets. Our systems and components optimize the performance of commercial aircraft; military aircraft, ground vehicles and other equipment; gas and steam turbines; wind turbines; reciprocating engines; and electrical power systems. The company's innovative fluid energy, combustion control, electrical energy, and motion control systems help customers offer cleaner, more reliable and more efficient equipment. Our customers include leading original equipment manufacturers and end users of their products. Woodward is headquartered in Fort Collins, Colo., USA. Visit our website at www.woodward.com.

The statements in this release concerning the company's capital raising intentions, conditions in the capital and financial markets generally, and general economic conditions reflect current expectations and are forward-looking statements that involve risks and uncertainties. Actual results could differ materially from projections or any other forward-looking statement and we have no obligation to update our forward-looking statements. Factors that could affect performance and could cause actual results to differ materially from projections and forward-looking statements are described in Woodward's Annual Report on Form 10-K for the year ended September 30, 2010.

CONTACT: Mike Schablaske Corporate Director, Investor Relations, Tax and Assistant Treasurer 815-639-6697 Woodward Governor Company 1000 East Drake Road Fort Collins, Colorado 80525, USA Tel: 970-482-5811 Fax: 970-498-3058