Press Release - October 15, 2003

EDO WINS CONTRACT FOR ADVANCED SONAR TECHNOLOGY ON SUBMARINES

NEW YORK -- October 15, 2003 -- EDO Corporation (NYSE:EDO) ) has won a competitively awarded contract to develop new passive-sonar technology on U.S. Navy submarines. The IDIQ, indefinite-delivery/indefinite-quantity, contract has a base year plus four option years, and a ceiling of $7.7 million. It was awarded by the Newport Division of the Naval Undersea Warfare Center.

The contract includes the design, development, and multi-year production of wide-band multi-mode and radius-of-curvature sensors with associated electronics and electro-optics. These are critical components of new hydrophone-array technology being developed to improve detection of threats and counteract increasingly quieter submarines.

Wide-band multi-mode sensors will enable monitoring of a very wide portion of the sound-frequency spectrum. This allows identification of specific sounds made by submarines and weapons. Radius-of-curvature sensors will improve the ability to compute the distance to various threat emissions, a limitation of current passive-sonar systems. In addition, EDO will develop the digital telemetry units for these external sensors. Such units will use fiber-optic technology to bring the sonar signals inboard, providing noise-free data transmission and significantly reducing weight.

"Since the undersea exploration of the North Pole by the Nautilus submarine in the 1950's, EDO has been a primary supplier to the Navy of innovative sonar technology," said James M. Smith, EDO's chief executive officer. "This award demonstrates our continuing commitment to engineer and deliver the most advanced sonar solutions for undersea warfare.

The hydrophone-array equipment will be produced at EDO's Electro-Ceramic Products facility in Salt Lake City, Utah. This business unit is an industry leader in the design, development, production, and integrated logistics support for underwater acoustic transducers and sonar arrays.

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