EDO UNVEILS NEW PRODUCTS AT FARNBOROUGH AIR SHOW

FARNBOROUGH, U.K. - July 19, 2004 - EDO Corporation (NYSE: EDO) has introduced four new aircraft-armament products at the Farnborough International Air Show, which is being held this week in the U.K.

New products being displayed by EDO include:

A "smart", pneumatic, twin-store carriage system designed to increase the weapons payload on high-performance tactical aircraft, including the F-16 Falcon, the F/A-18 Hornet, and F-35 Joint Strike Fighter. This system is the next generation of EDO’s BRU-55 and BRU-57 "smart-rack" Bomb Release Units, which incorporates the latest in military-grade electronics and pneumatics. .
The new unit’s highly reliable pneumatic-ejection system offers a number of advantages over pyrotechnic-cartridge ejection technology, including reduced maintenance expenses. The twin-store unit also provides substantial cost savings and improves operational capabilities by doubling the smart-weapon payload. The carriage system interfaces with smart weapons in the 500 to 1000 pound range, such as JSOW, JDAM, and WCMD, and enables individual targeting and release of each weapon.
An electronics assembly for the dual-mode Maverick missile launcher, which is under joint development with Raytheon Corporation. The LAU-117 Dual Mode Launcher Electronics Assembly (DM-LEA) adds significant capabilities not available with current Maverick launchers. It can interface with all "Military-Standard-1760" aircraft while maintaining compatibility with the Maverick legacy analog interface platforms. This provides compatibility with modern digital flat-panel cockpit displays and makes the Maverick’s telemetry and mission data available to the pilot and the military network. No modifications are required to the aircraft itself.
The LAU-117 launcher will greatly expand the range of use for the Maverick missile. It will allow direct targeting and provide improved video capability to the cockpit of most fighter aircraft in service today.

The dual-mode launcher program has led to an additional award with Raytheon to integrate a GPS receiver and digital data-link into the missile system, allowing communication with the missile after it has been launched and improving its range four-fold over current Maverick variants. The new version of Maverick missile, to be demonstrated by the USAF in early 2005, will provide better situational awareness and battle damage assessment to the warfighter, allowing the missile to be launched without the current weather-dependent visual lock on the target.
EDO’s UK business unit, EDO MBM Technology Ltd, has introduced a new twin-store, "smart-weapon" aircraft-armament carrier known as "GEMINI". It is designed to be a universal fit to a wide range of European-built aircraft such as Tornado GR4, Harrier GR9 and Eurofighter Typhoon as well as other future platforms. By doubling the smart-weapon payload that an aircraft is able to deliver on a single mission, it will provide enhanced operational capability through increased weapon load-out and improved store mix, or increased range through additional fuel tankage. The GEMINI intelligent twin-store carrier is Military-Standard-1760 compliant and capable of carrying two stores of up to 1000 pounds each, with individual targeting and release of each weapon.
EDO MBM Technology Ltd has also announced a major new capability for its MBM Technology Ltd has also announced a major new capability for its Modular Advanced Lightweight Training System (MALTS) ) practice-bomb carrier. MALTS is now able to carry Laser Guided Training Rounds (LGTR) to provide a complete air-to-ground weapon-training system. Certification trials will commence later this year.
The MALTS family of two, four, and six station carriers provides practice-bombing capability on any tactical aircraft. MALTS employs easily maintained electro-magnetic release units interfaced to the aircraft stores-management system. Thus, F-16 operators equipped with MALTS will eliminate the need for Triple Eject Rack (TER-9) inventory and the associated pyrotechnic maintenance, which requires a frequent, time-consuming cycle of removal, strip down and cleaning. MALTS requires only an annual service check.

Also, because of the low mass and cross-sectional area, MALTS may be flown as a permanent fit on the wing centre pylon, and without practice bombs has a full Cat 1 flight envelope. Swing-role training is therefore possible, avoiding a return to station and a second sortie.

"EDO Corporation is the market leader in sophisticated aircraft-armament carriage and release systems," said James M. Smith, EDO’s chief executive officer. "For decades, we have provided such equipment for the world’s dominant jet fighters, including the F-15, F-16, F/A-18, and Tornado. For the F/A-22, EDO has developed and produces the AMRAAM Vertical Eject Launcher (AVEL), which employs the company’s state-of-the-art pneumatic ejection technology. We are also developing a pneumatic suspension and release system for the F-35 Joint Strike Fighter.

"We continue to invest in the advancement of weapon-interfacing systems and are teamed with Lockheed Martin for the development of a launching system for the Joint Common Missile. EDO (UK) is teamed with Raytheon on the recently awarded RAF Paveway IV development and production contract."

In addition to Aircraft Armament, EDO Corporation has core competencies in a wide range of critical defense areas, including:

C4I – Command, Control, Communications, Computers, and Intelligence
Defense Electronics
Undersea Warfare
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