Press Release - December 12, 2003

EDO RECEIVES $33.5 MILLION CONTRACT FOR F/A-22
WEAPON RELEASE SYSTEM

NEW YORK -- December 12, 2003 -- EDO Corporation (NYSE: EDO) has been awarded a $33.5 million contract from Lockheed Martin Aeronautics Company (NYSE: LMT) for continued production of its weapons-delivery system on the F/A-22 Raptor. This latest order covers production lots three and four, consisting of 43 aircraft.

Known as AVEL, EDO’s LAU-142/A AMRAAM Vertical Ejection Launcher carries and ejects missiles from internal bays. During in-flight launch, the AVEL system ejects missiles through the jet fighter’s air-flow-boundary layer very rapidly, assuring safe aircraft separation at Mach speeds. The AVEL employs a highly reliable pneumatic-ejection system controlled by the aircraft’s stores management system. This technology offers a number of advantages over pyrotechnic-cartridge ejection systems, including reduced maintenance expenses.

CEO James M. Smith explained that EDO has developed and tested the AVEL to address the need to carry and eject missiles from within concealed weapon bays. "Stealth plays a major role in many of today's aircraft missions," explained Smith. "The AVEL’s rapid ejection rate minimizes the time the weapon-bay doors are open therefore maintaining the fighter’s stealth characteristics. It also ejects at the precise angle and velocity needed to optimize missile guidance and avoid interfering with the aircraft’s maneuvers."

"Weapons-interface products are a core component of our growth strategy," continued Smith. "In addition to the F/A-22, EDO will be weapons integrator on the new F-35 Joint Strike Fighter, and is teamed with Raytheon on the UK’s recently awarded Precision Guided Bomb development and production contract."

The AVEL equipment is produced at EDO's Marine and Aircraft Systems facility in North Amityville, N.Y. The Precision Guided Bomb interface components are produced at EDO’s MBM Technology Ltd facility in Brighton, England.

EDO Corporation provides military products and professional services to the US, UK, and other 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 lighter, faster, and smarter defense capabilities.

EDO (www.edocorp.com) was founded in 1925, and is headquartered in New York City. The company had revenues last year of $329 million, and employs 2,800 people.

Forward-Looking Statements
Certain statements made in this release, including statements about future sales, are forward-lookingstatements 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, EDO Corporation
(Phone) +1 212-716-2038
ir@edocorp.com