Woodward, Inc. — Director's Dealing 2004

Nov 30, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WOODWARD GOVERNOR CO (WGOV)
CIK: 0000108312
Period of Report: 2004-11-24

Reporting Person: CARTER STEPHEN P (Exec. VP, CFO & Treasurer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-11-24	Nonqualified Stock Option (Right to Buy)	$71.45	A	3000	Acquired	2014-11-24	Common Stock (3000)	Direct

Footnotes

F1: Shares become exercisable at the rate of 25% per year beginning one year from date of grant.