EDO TO PROVIDE LAUNCHING SYSTEM FOR JOINT COMMON MISSILE

NEW YORK - October 27, 2004 - EDO Corporation (NYSE: EDO), as a key member of the Lockheed Martin (NYSE: LMT) team, has been selected to design and develop fixed-wing, dual missile launchers for the Joint Common Missile (JCM) on F/A-18E/F aircraft.

EDO has received a letter contract, valued at $1.9 million, authorizing start-up work under Phase 1 of the project. Phase 1 includes delivery of two developmental rail launchers. The potential value to EDO over the anticipated life of the JCM program is expected to be more than $100 million.

"Aircraft-armament products are a core component of our growth strategy," said James M. Smith, EDO’s chief executive officer. "The JCM program will add to our leading position in providing weapon-release systems on nearly all U.S. fighter aircraft in current production, as well as the future F-35 Joint Strike Fighter."

The dual launchers, with associated electronics, can be mounted on EDO’s BRU-55 "smart rack", thereby enabling four missiles to be loaded on a single weapon station. This configuration has already been successfully demonstrated by the Lockheed Martin/EDO team earlier this year at the Naval Air Weapons Station in China Lake, Calif. This demonstration significantly reduces future integration risk.

The BRU-55 advanced electronics provide MIL-STD-1760 interfaces to the smart weapons carried on the rack. The electronic interface, designed and developed by EDO, enables flight and targeting data to be transferred individually to each missile immediately prior to release.

EDO Corporation designs and manufactures a diverse range of products for the defense industry and commercial markets, and provides related engineering and professional services.

Major product groups include: Aircraft Armament, Defense Electronics, Communications, Undersea Warfare, and Integrated Structures. EDO’s advanced systems are at the core of the transformation to lighter, faster, and smarter defense capabilities.

EDO 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 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