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 ESTABLISHES $140 MILLION REVOLVING CREDIT FACILITY

NEW YORK, NEW YORK - November 11, 2002 - EDO Corporation (NYSE:EDO) announced today that it has established a new $140 million revolving credit facility with a bank group led by Citibank, N.A., as Administrative Agent. This new facility can be increased to $200 million under certain conditions. It replaces the Company's existing $69 million credit facility, under which there currently is no outstanding indebtedness. Fleet National Bank will serve as Syndication Agent and Wachovia Bank, N.A. as Documentation Agent for the new facility.

The agreement provides sub-limits up to $125 million in acquisition financing and up to $125 million in stand-by letter-of-credit financing. Borrowings under the facility initially will be priced at LIBOR plus 125 basis points.

"Together with total cash on hand of $150 million, which includes $28 million that is temporally restricted, this facility gives us the financing we need to accommodate our previously stated near term acquisition and growth plans," said Chief Financial Officer Darrell Reed.

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, reconnaissance and surveillance systems, aircraft weapons suspension and release systems, airborne mine countermeasures systems, and integrated combat systems and sonar systems and professional, operational, technical and information technology services. EDO's Communications and Space Products Segment addresses the needs of the remote sensing, communication, navigation, and electronic warfare industries with ultra-miniature electronics and systems 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
Certain statements made in this release 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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