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Monday, July 14, 2008

Goodrich Receives Production Contract for F-35 Lightning II Weapons Bay Door Drive System

CHARLOTTE, N.C., July 14 /PRNewswire-FirstCall/ -- (Farnborough International Airshow) Goodrich Corporation (NYSE: GR) has received an initial production contract from Northrop Grumman Corporation to provide its weapons bay door drive system for all models of the F-35 Lightning II aircraft. The contract is expected to generate more than $20 million in revenue through early 2011. Work will be performed by Goodrich's Actuation Systems team in Wolverhampton, UK with support from Goodrich's Sydney, Australia and Vergennes, Vt. businesses.

Goodrich is responsible for the complete actuation system for the F-35 weapons bay door drive, incorporating actuation, electronic controls and locks. The system minimizes any adverse impact on the aircraft's stealth signature by quickly and precisely opening and closing its weapons bay door. The contract covers low rate initial production lots two and three, for 12 and 19 aircraft respectively. Deliveries are expected to begin in early 2009 and continue through the middle of 2011.

Goodrich's content on the F-35, expected to be valued at more than $3 million per aircraft, includes the air data system, landing gear, weapons bay door drive systems, engine and fuel quantity sensors, actuation systems and unique short takeoff/vertical landing (STOVL) engine and airframe components. Production takes place at company facilities in Australia, Canada, the UK and the U.S.

Goodrich Corporation, a Fortune 500 company, is a leading global supplier of systems and services to the aerospace and defense industry. Serving a global customer base with significant worldwide manufacturing and service facilities, Goodrich is one of the largest aerospace companies in the world. For more information visit http://www.goodrich.com.

Goodrich Corporation operates through its divisions and as a parent company for its subsidiaries, one or more of which may be referred to as "Goodrich Corporation" in this press release.

Forward-Looking Statements

Certain statements made in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the company's future plans, objectives, and expected performance. Specifically, statements that are not historical facts, including statements accompanied by words such as "believe," "expect," "anticipate," "intend," "estimate," or "plan," are intended to identify forward-looking statements and convey the uncertainty of future events or outcomes. The company cautions readers that any such forward-looking statements are based on assumptions that the company believes are reasonable, but are subject to a wide range of risks, and actual results may differ materially.

Important factors that could cause actual results to differ include, but are not limited to: demand for and market acceptance of the F-35 Lightning II; the actual amount of product purchased by Northrop Grumman Corporation under the contract; and potential cancellation of orders. Further information regarding the factors that could cause actual results to differ materially from projected results can be found in the company's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2007.

The company cautions you not to place undue reliance on the forward- looking statements contained in this release, which speak only as of the date on which such statements were made. The company undertakes no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date on which such statements were made or to reflect the occurrence of unanticipated events.

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