FOR IMMEDIATE RELEASE
60 East 42nd Street, Suite 5010, New York, NY 10165, 212-716-2000
	Company Contact: William J. Frost Vice President - Administration (212) 716-2000 investor.relations@edocorp.com

EDO CORPORATION AWARDED SMALL DIAMETER BOMB CONTRACT

NEW YORK, NEW YORK - May 6, 2002 - EDO Corporation (NYSE:EDO) announced today the award of a contract from Lockheed Martin to develop a weapon carriage system for the Component Advance Development phase of the Small Diameter Bomb Program ("SDB"). The system will be capable of carrying and safely ejecting multiple weapons at up to and including supersonic speeds from various aircraft platforms.

EDO's Marine and Aircraft Systems division in Amityville, NY will design and develop the mechanical subsystem and EDO M.Tech, Huntingdon Valley, PA, will provide the electronics subsystem. This contract will extend for approximately two (2) years.

"Weapons carriage and release systems for the next generation of small smart bombs establishes a new area for expansion of our core business strengths," said James M. Smith, President and Chief Executive Officer of EDO Corporation. "With the continued production of the F-22, our role on the Joint Strike Fighter development program, and the ability of our SDB System to interface with the legacy fighters and bombers, we expect to maintain our prominent position as the world leader in aircraft weapon release equipment for decades to come. This new contract is another example of EDO securing its future through the focused application of its internal research and development funding."

About EDO Corporation
EDO Corporation (www.EDOcorp.com) supplies highly engineered products for governments and industry worldwide, including advanced electronic, electromechanical and information systems and engineered materials critical to the mission success of its customers. The Company's Defense Segment provides integrated front-line war fighting systems, including radar countermeasure systems, aircraft weapons storage and release systems, airborne mine countermeasure systems, integrated combat systems and sonar systems and professional, operational, technical and information technology services. EDO's Space and Communication Segment addresses the needs of the remote sensing, communication, navigation, and electronic warfare industries with ultra-miniature electronics and a broad line of antennas. The Company's Engineered Materials Segment supplies piezoelectric and advanced composites for the communication, navigation, chemical, petrochemical, paper and oil industries, for civilian infrastructure and military applications.

Forward-Looking Statements
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and the following: changes in demand for the Company's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, difficulties encountered in the integration of acquired businesses and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.

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