MASG - Mooney Aerospace Group, Ltd. (fka MASG)

[Bruce A Thompson]

Mooney Aerospace Group Ltd. Files for Chapter XI Bankruptcy Reorganization
6/11/2004 4:49:00 PM

KERRVILLE, Texas, Jun 11, 2004 (BUSINESS WIRE) -- Mooney Aerospace Group (MASG) announced today that it filed a petition for reorganization under Chapter XI of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on June 10, 2004. The company intends to rapidly work to file a plan of reorganization in the proceeding.

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confidant that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market 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.

SOURCE: Mooney Aerospace Group Ltd.

Mooney Aerospace Group Ltd., Kerrville
J. Nelson Happy, 830-792-2917