Press Release - April 23, 2003

EDO DECLARES REGULAR QUARTERLY CASH DIVIDEND

NEW YORK - April 23, 2003 - EDO Corporation (NYSE:EDO) today announced that its Board of Directors has declared a regular quarterly cash dividend on its common stock of $0.03 per share, payable on June 27, 2003 to shareholders of record at the close of business on June 6, 2003.

James M. Smith, Chairman, President and Chief Executive Officer of EDO Corporation, said that the dividend payout is reviewed periodically by EDO's Board, with the objective of enhancing shareholders' return on investment consistent with the company's profitability and capital requirements.

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.

Contact:
William A. Walkowiak, CFA
Director of Investor Relations
(212) 716-2038
ir@edocorp.com