EDO Corporation appoints four new outside directors to the board.

COLLEGE POINT, N.Y.--(BUSINESS WIRE)--Jan. 27, 1995--The board of directors of EDO Corp. (NYSE:EDO) today announced the appointment of four new outside directors.

They include: Robert E. Allen, 50, Robert Alvine, 56, Mellon C. Baird, 63, and George M. Ball, 60. The new directors will serve until the company's Annual Meeting in April 1995, when they will be candidates for reelection by shareholders. They succeed three incumbent directors, who are retiring in April 1995 consistent with the new age limitation requirement of the company's by-laws enacted in November 1993, and Gerald Albert, who, as previously announced, resigned as chairman of the board effective Jan. 1, 1995. Albert was succeeded as chairman by Robert M. Hanisee, a director of EDO since January 1992. Hanisee will continue to serve as an outside director.

Allen is the managing director, and co-founder, of Redding Consultants, a Wilton, Connecticut-based management consultant firm. He previously served as a consultant with McKinsey & Co. His experience includes a number of strategy assignments in the aerospace, defense and transportation industries. Allen earlier served as an operations and marketing vice president of Emery Worldwide and in strategic marketing positions with Genesco, Inc. At both companies he was hired to lead major turnaround efforts.

Robert Alvine is a principal of Charterhouse Group International, Inc., and has led investment interests as the chairman and chief executive officer of C&D Charter Power Systems, as well as vice chairman and CEO of A.P. Parts Manufacturing Co., Inc. In 1987, Alvine founded two companies which focus on business investments and consulting for boards of directors, senior management and merchant banking institutions involved with private and public companies or special business situations. Prior to 1987, he served as CEO of the $750 million Engineered Products and Service Group subsidiary of Uniroyal, Inc. During his ten-year career at Uniroyal, he served in numerous high-level positions, including overseeing Uniroyal's tire, merchandising, plastics, power transmission, international footwear and development companies.

Mellon C. Baird has served since 1980 as chairman, president and CEO of Santa Clara, California-based Delfin Systems, a manufacturer of signal collection and exploitation systems used for intelligence analysis. Prior to joining Delfin Systems, he served for five years as president, CEO and chief operating officer of Tracor, Inc. and president of the defense and electronics group of Eaton Corp. (NYSE:ETN). His previous positions include serving as corporate senior vice president and president of the Federal System Group of Sanders Associates, Inc. and president of F & M Systems Co., among others.

George M. Ball has served in various executive capacities in the investment banking industry over a 34-year career that has included positions with Reynolds & Co., Kidder Peabody & Co., Donaldson, Lufkin & Jenrette, Interstate/Johnson Lane and, since 1990, Philpott, Ball & Co., where he is a principal and co-founder. In 1984, while serving at Donaldson, Lufkin & Jenrette, Ball was recruited to serve as president and CEO of 3 Guys & Co., a $125 million retail grocery chain based in Salisbury, N.C. He subsequently formed his own mergers and acquisitions firm. He has served since 1992 as a financial and management consultant to EDO, and presently serves on the board of directors of another public company, Juno Lightning Inc., based in Des Plaines, Ill.

Commenting on the appointment of the new directors, Frank A. Fariello, president and CEO of EDO stated: "We are pleased to be adding to our Board executives such high caliber and senior management level experience. Their varied backgrounds will bring to the Board a fresh look at the strategic challenges facing the company. With our newly appointed Chairman, Robert Hanisee, our new directors and the full board will work closely with the new management group toward our common goal of increasing shareholder value. We appreciate all of the efforts of our retired directors over the years, and are fortunate to have their continuing availability to the company as needed."

Principally a designer and manufacturer of advanced electronic, acoustic, aerodynamic and hydrodynamic equipment for military applications and marine and aviation markets, EDO has been pursuing the application of its sophisticated and diverse defense related technologies to civilian and commercial markets with particular emphasis on the natural gas vehicle marketplace.

CONTACT: EDO Corp., College Point

Michael J. Hegarty, 718/321-4050

or

Kehoe, White, Savage & Co., New York 

Robert Cavosi/John P. Kehoe

212/888-1616