Press Release - May 22, 2003

AIR FORCE RENEWS CONTRACTS FOR EDO ELECTRONIC DEFENSE
ON B-1B BOMBER

NEW YORK - May 22, 2003 - EDO Corporation (NYSE:EDO) has received two B-1B program awards in support of the battle-tested AN/ALQ-161 defensive system on the B-1B bomber. The funding under these awards totals $11.2 million, bringing the total B-1B program awards thus far in 2003 to approximately $21 million. These awards reflect the Air Force's current focus on maintaining and upgrading the bomber's existing ALQ-161 defensive suite. The ALQ-161 has proven to be extremely effective in recent military campaigns, including Afghanistan and Iraq. The awards were issued by the ALQ-161 Program Office at Robins AFB in Georgia.

The first award was for 12 months of engineering support under a new 10-year ID/IQ (Indefinite Delivery/Indefinite Quantity) contract. The task covers sustaining engineering services, which include software-test-facility support, mission-data-optimization analysis, technical studies and analysis, software testing, and diminishing-manufacturing-sources studies. The second award covers continued support for sub-assembly repairs over the next 6 to 24 months.

"The current B-1B configuration, which employs our fully integrated electronic countermeasures system, has proven itself in combat to be a virtually impenetrable defense against both air and ground attack," said James M. Smith, EDO's chief executive officer. "We are pleased that the Air Force has recognized this performance by funding further upgrades to this defensive suite."

EDO Corporation provides military products and professional services to the United States and allied governments, and their prime defense contractors. EDO focuses on systems and subsystems that are integral to the success of long-term military platforms, such as the B-1B bomber, the F/A-22, the Joint Strike Fighter, and the Comanche Helicopter. Examples of the company's highly engineered products include aircraft weapon-release systems, ship and aircraft self-protect systems, and high-performance composite structures. The company also has a number of high-performance commercial product lines. An aggressive acquisition program is diversifying the base of major platforms and customers. EDO is at the core of the transformation to a lighter, faster, and smarter national defense capability.

Forward-Looking Statements
Certain statements made in this release, including statements about future sales, 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 and services, product mix, the timing of customer orders and deliveries, the impact of competitive products and services and pricing, 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.

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