Press Release - September 2, 2003

EDO EDO WINS NAVY PMS-EOD SUPPORT CONTRACT

NEW YORK -- September 2, 2003 -- EDO Corporation (NYSE:EDO) has been awarded a contract from the Department of the Navy to continue support for the Explosive Ordnance Disposal Program Management Office (PMS-EOD). The task order contract has a base year plus four option years, and a ceiling of $17.5 million. This is the fifth time since 1984 that EDO has successfully competed for the contract.

Located in Indian Head, Md., PMS-EOD's mission is to provide the systems and equipment needed by Explosive Ordnance Disposal technicians to detect and neutralize underwater ordnance, such as mines and unexploded torpedoes. Under this contract, EDO personnel provide acquisition, engineering, logistic, program management, and training support services to PMS-EOD. This includes support to operational fleet units and deployed forces, when directed.

"This new contract includes an expanded scope to cover the increased emphasis on unmanned systems, which reduce personnel risk and improve operational effectiveness," said James M. Smith, EDO's chief executive officer. "The potential of unmanned technology was demonstrated during Operation Iraqi Freedom by Naval Special Clearance Team 1, who cleared the shallow-water areas in the port of Umm Qasr. This team included the Navy's first operational unmanned-underwater-vehicle detachment, and our personnel were on location providing technical support."

Although unrelated to the PMS-EOD contract, EDO also had key roles in other successful mine-countermeasure activities in Operation Iraqi Freedom. The company's MK-105 airborne mine-countermeasures system was used for deep-water mine clearing in Umm Qasr. EDO also provided data-communications services in support of mine hunting and positioning operations.

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 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