EDO WINS MULTI-YEAR ANTENNA CONTRACT
FOR THE F-35 JOINT STRIKE FIGHTER

NEW YORK - March 23, 2004 - EDO Corporation (NYSE:EDO) has been awarded a $2 million, multi-year contract by Northrop Grumman Corporation (NYSE: NOC) to design and develop landing-aid antennas for the F-35 Joint Strike Fighter. The contract covers the program’s system development and demonstration (SDD) and low rate initial production (LRIP) phases. Northrop Grumman is a principal member of the Lockheed Martin-led F-35 JSF team.

The contract includes the design and manufacture of various antennas required for both aircraft-carrier and conventional-runway landings. It also includes development of a triplexer network to transfer information from external sensors to the appropriate on-board communications systems.

"EDO’s expertise in mission-critical antenna technology is well-known in our industry, and was an important factor in securing this contract," said James M. Smith, EDO's chief executive officer. "Our reputation for outstanding performance and reliability under live-combat conditions has been earned over more than 55 years of antenna-system design and production."

EDO Antenna Products & Technologies unit will perform the work at its Long Island, N.Y. facility. At this location, EDO designs and manufactures more than 35,000 state-of-the-art antenna products annually for more than 400 customers for use in military and commercial applications over the 1 MHz to 40 GHz frequency range.

In addition to the antenna contract, EDO has previously announced a $24.8 million award from the prime contractor, Lockheed Martin, for the design and development of a suite of pneumatic weapon-delivery systems for the F-35. That contract includes manufacturing for the SDD aircraft. During the SDD phase, 22 aircraft (14 flying-test aircraft and 8 ground-test aircraft) will be produced.

"EDO is proud to be part of the Lockheed Martin, Northrop Grumman Systems, and BAE Systems team," added Smith. "Our growing role with the F-35 demonstrates how the company’s engineering depth and investment in leading-edge research and development yields long-term benefits. If EDO is awarded weapon-delivery system subcontracts for the production phase, the F-35 program is expected to produce revenues of well over $1 billion for EDO over the next 25 years."

EDO Corporation provides military and commercial products and professional services, with core competencies in a wide range of critical defense areas, including:

Aircraft Armament
Defense Electronics
Undersea Warfare
C4I – Command, Control, Communications, Computers, and Intelligence
Integrated Composite Structures

EDO (www.edocorp.com) was founded in 1925, and is headquartered in New York City. The company had revenues last year of $461 million, and employs 2,700 people.

Forward-Looking Statements
Certain statements made in this release, including statements about future revenue, 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