[LOGO] EDO Corporation
                                                           FOR IMMEDIATE RELEASE

                                                             
                                   Investor Contact:               Company Contact:
60 East 42nd Street, Ste. 5010     Neil Berkman or Melanie Beeler  William J. Frost
New York, NY 10165                 Berkman Associates              Vice President-Administration
212-716-2000                       (310) 277-5162                  (212) 716-2000
                                   info@BerkmanAssociates.com      www.edocorp.com



         EDO Corporation to Purchase the Assets of Condor Systems, Inc.


     NEW YORK, NEW YORK -- May 28, 2002 -- EDO Corporation (NYSE: EDO) announced
today that EDO Acquisition IV Inc., a wholly owned subsidiary, has entered into
a definitive agreement for the purchase of substantially all of the assets and
businesses of Condor Systems, Inc., a California corporation, and its domestic
subsidiary for approximately $112.3 million in cash and assumed liabilities,
including accounts payable, obligations relating to employees and standby
letters of credit. Condor's board of directors approved the agreement on May 17,
2002. The purchase of assets from Condor and its subsidiary will be made
pursuant to Section 363 of the Bankruptcy Code because Condor is in a Chapter 11
proceeding. The transaction is subject to bankruptcy court and other
governmental regulatory approvals and conditions customary for transactions of
this type. EDO negotiated the purchase agreement with Condor and representatives
of Condor's senior bank lenders and its Committee of Unsecured Creditors.

     Condor Systems, Inc., founded in 1980, is a privately held defense
electronics firm and a manufacturer of signal intelligence and electronic
warfare systems and products.

     James M. Smith, EDO's Chairman, President and CEO said, "We believe that
productive and reassuring discussions we have had with Condor's major customers,
the agreement of members of Condor's senior management team to transition
Condor's business after the transaction closes, and incentives we have put in
place to ensure the retention of key technical and management staff will assure
a smooth integration of Condor's business into EDO's current operations."

About EDO Corporation

     EDO Corporation (www.EDOcorp.com) supplies highly engineered products for
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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 countermeasures
systems, aircraft weapons storage and release systems, airborne mine
countermeasure systems, integrated combat systems and sonar systems and
professional, operational, technical and information technology services. EDO's
Space and Communication Segment addresses the needs of the remote sensing,
communication, navigation, and electronic warfare industries with
ultra-miniature electronics 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
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.


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