Press Release - August 21, 2003

EDO AWARDED $2.6 MILLION CONTRACT ADDITION FOR
BOMB RELEASE UNITS ON F/A-22

NEW YORK -- August 21, 2003 -- EDO Corporation (NYSE:EDO) ) has been awarded a contract modification by the US Air Force valued at $2.6 million. The award is for additional Bomb Release Units (BRU-46 and BRU-47) that will be used on the F/A-22 jet fighter. The awards were issued by the Robins Air Force Base in Georgia.

This contract modification increases the total contract value to $6.7 million and runs through August 2004. The work will be performed by EDO's Marine and Aircraft Systems business unit, located on Long Island, N.Y.

The BRU-46 and BRU-47 are combat-proven, standard equipment on the Air Force F-15E aircraft. The BRU-46 is also a major component of the BRU-57 Smart Rack which doubles the quantities of "smart weapons" that can be carried by the F-16 aircraft.

EDO has produced over 6,700 BRU-46 and BRU-47 units. This contract modification, together with existing backlog orders, will bring the total quantity of units produced to more than 7,800.

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, 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 commercial product lines. A disciplined 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.

EDO (www.edocorp.com) was founded in 1925, and is headquartered in New York City. The company expects 2003 revenues to exceed $460 million, and employs 2,800 people.

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