EDO Corporation Awarded Sikorsky Contract Valued up to $6 Million for Helicopter Structure.

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 1, 2002

EDO Corporation (NYSE:EDO) announced today that it has been awarded a contract by Sikorsky for an advanced composite Torque Box as part of the Integrated Retractable Aircraft Munitions System (IRAMS) for the Comanche helicopter. EDO will supply Engineering Development Models for subsequent system testing by Sikorsky. Initial contract funding is for approximately $2 million. The contract value will increase to $6 million if all low rate production options are exercised. Total Torque Box program value could exceed $50 million if all production helicopters are procured.

The IRAMS Torque Box, which extends and retracts, will provide the mounting platform for the Hellfire Missile and other weapon systems. The contract, with the low rate production options, runs through 2009. EDO Marine and Aircraft Systems, Amityville, NY, will perform development testing and delivery with composite fabrication performed by EDO Fiber Science, Salt Lake City, UT.

"We welcome this opportunity to work with Sikorsky on the Comanche," said James M. Smith, Chairman and Chief Executive Officer of EDO Corporation. "This program enables us to bring our weapons release technologies to another new platform, as well as the use of our structural composite capabilities."

About EDO Corporation

EDO Corporation (www.EDOcorp.com) supplies highly engineered products for governments and industry worldwide, including advanced electronic, electromechanical and information systems and engineered materials critical to the mission success of its customers. The Company's Defense Segment provides integrated front-line war fighting systems, including radar countermeasure systems, reconnaissance and surveillance systems, aircraft weapons suspension and release systems, airborne mine countermeasures systems, and integrated combat systems and sonar systems and professional, operational, technical and information technology services. EDO's Communications and Space Products Segment addresses the needs of the remote sensing, communication, navigation, and electronic warfare industries with ultra-miniature electronics and systems and a broad line of antennas. The Company's Engineered Materials Segment supplies piezoelectric and advanced composites for the communication, navigation, chemical, petrochemical, paper and oil industries, for civilian infrastructure and military applications.

Forward-Looking Statements

This press release contains statements that are forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended. 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, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, difficulties encountered in the integration of acquired businesses and other risks discussed from time to time in the Company's SEC 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.