Bowmar and EDI Each Set Record Date, Shareholders Meeting Date and Announce New Company Name.

PHOENIX/WESTBOROUGH, Mass.--(BUSINESS WIRE)--Sept. 17, 1998--Bowmar Instrument Corp. ("Bowmar")(AMEX:BOM) and Electronic Designs, Inc. ("EDI") (Nasdaq:EDIX) announced that the Securities and Exchange Commission today declared effective the registration statement on Form S-4 filed by Bowmar in connection with the proposed merger of Bowmar and EDI.

The stockholder meetings to vote on the merger will be held on Oct. 23, 1998, occurring simultaneously in Phoenix and Westborough at 9:00 a.m. and 12:00 p.m. local times, respectively.

"We are very excited about clearing this important phase of the merger process," stated Hamid Shokrgozar, President and Chief Executive Officer of Bowmar. "The management of both companies continues to believe that the complimentary business strengths and the anticipated cost savings of the combination will create a strong company which will benefit both our customers and shareholders," added Shokrgozar.

The companies expect that the joint proxy statement for the meeting will be mailed to stockholders beginning on Sept. 18, 1998. Bowmar and EDI have both set Sept. 15, 1998 as the record date for the determination of the Bowmar and EDI stockholders who will be entitled to vote on those matters related to the merger.

Bowmar shareholders will also vote on a proposal to change the name of Bowmar after the merger to "White Electronic Designs Corporation" to reflect the combination as a merger of equals. White Microelectronics, the largest division of Bowmar, designs and manufactures standard and customer high-reliability memory components. White is recognized by its customers as a world leader in the production of military memory products, from off-the-shelf monolithics to advanced multichip modules. EDI, while having a strong military memory business, has primarily focused on the growing commercial memory markets. The combined companies expect to capitalize on their respective strengths and offer customers a more comprehensive product line.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Actual results may differ materially from those stated depending upon a number of factors, including but not limited to the company's ability to develop new products, product supply and demand, order patterns and cancellations, pricing pressures and stability, trends in outsourcing, competition from suppliers with greater resources and uncertainties related to the consummation of the proposed merger.

Bowmar, which is headquartered in Phoenix, Ariz., designs and manufactures state-of-the-art microelectronic, semiconductor memory, and electromechanical products. It targets commercial, industrial, and military markets, particularly for telecommunications, data communications equipment and aerospace. The company's manufacturing facilities are located in Fort Wayne, Ind. and Phoenix.

EDI, which is headquartered in Westborough, Mass., designs, manufactures and markets semiconductor memory and flat panel display products for the global commercial, industrial and military markets, particularly for telecommunications, data communications and avionics. The company's manufacturing facility is located in Westborough, Mass.

To learn more about Bowmar's business, visit its website at www.bowmar instrument.com

Information about EDI is accessible through its website at www.electronic-designs.com.