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 LOWERS 2003 PENSION COST EXPECTATIONS

Benefits Under Defined Benefit Pension Plan Frozen

NEW YORK, NEW YORK - November 29, 2002 - EDO Corporation (NYSE:EDO) announced today that it will freeze benefits under its defined benefit pension plan to those accrued as of January 1, 2003. The Company said that it expects this to result in a one-time non-cash pension plan curtailment charge for 2002 of approximately $2.0 million, which is currently not deductible for income tax purposes.

Chairman and Chief Executive Officer James Smith said that as a result of this action, the Company has revised its pension expense guidance for 2003 to $4.0 to $6.0 million. Previously, pension expense for 2003 was expected to be $6.0 to $8.0 million. Smith said that cash contribution requirements previously forecasted at $5.0 to $8.0 million for 2004 are expected to remain unchanged.

Smith also noted that this action will have no effect on EDO's current 401(k) and ESOP retirement plans.

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 Statement
This press release contains statements that are forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended. 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 SEC 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.