EXHIBIT 99

FOR IMMEDIATE RELEASE                 CONTACT:             Leonard E. Moodispaw
                                                                CEO & President
                                                                   301.939.7000

        ESSEX INCREASES 2003 GUIDANCE, SETS RELEASE DATE FOR 2003 RESULTS

COLUMBIA, MD - February 5, 2004 - Essex Corporation (AMEX: EYW), announced today
preliminary revenue results for fourth quarter 2003 and updated earlier guidance
for full year  2003.  These  preliminary,  unaudited  results  suggest  that the
Company will report revenues of  approximately $5 million for its fourth quarter
and $16 million for full year 2003.  Essex  expects both its fourth  quarter and
full year for 2003 to be  profitable.  These results  compare to fourth  quarter
2002 revenues of $1,413,000, and full year 2002 revenues of $4,506,000.

"Essex  began 2003  focused on a growth  strategy  that  included  acquisitions,
business  development,  and  technology and product  development,"  according to
Leonard Moodispaw,  CEO and President.  "With preliminary  results showing rapid
growth of over 250% in annual revenues from 2002 to 2003, we have reaffirmed our
commitment to saying what we mean, and doing what we say. As our focus shifts to
2004, we are continuing to implement our growth strategy."

2003 Financials Release Date Set

Essex plans to release its audited  fourth  quarter and full year 2003 financial
results  after  market  close on  March  9,  2004.  A  conference  call is being
scheduled for March 10th at 10:30 a.m. (EST) that will be webcast simultaneously
through a link on the Company's  website.  Details regarding the conference call
are planned to be  announced by the Company on March 1st, and a recording of the
call will be made  available on the  Company's  website on the day following the
release.

ABOUT ESSEX:  Essex creates solutions for today's most advanced signal and image
processing challenges,  serving commercial,  defense and intelligence customers.
For more information contact Essex Corporation,  9150 Guilford Road, Columbia MD
21046; Phone 301.939.7000;  Fax 301.953.7880;  E-mail info@essexcorp.com,  or on
the Web at WWW.ESSEXCORP.COM.

THIS PRESS RELEASE MAY CONTAIN  "FORWARD-LOOKING  STATEMENTS" WITHIN THE MEANING
OF THE UNITED STATES PRIVATE SECURITIES REFORM ACT OF 1995. THESE STATEMENTS ARE
BASED ON MANAGEMENT'S CURRENT EXPECTATIONS AND ARE SUBJECT TO RISKS, UNCERTAINTY
AND CHANGES IN  CIRCUMSTANCES,  WHICH MAY CAUSE ACTUAL  RESULTS,  PERFORMANCE OR
ACHIEVEMENTS  TO DIFFER  MATERIALLY  FROM  ANTICIPATED  RESULTS,  PERFORMANCE OR
ACHIEVEMENTS. ALL STATEMENTS CONTAINED HEREIN THAT ARE NOT CLEARLY HISTORICAL IN
NATURE ARE FORWARD  LOOKING.  THE  FORWARD-LOOKING  STATEMENTS  IN THIS  RELEASE
INCLUDE STATEMENTS ADDRESSING THE FOLLOWING SUBJECTS: FUTURE FINANCIAL CONDITION
AND OPERATING RESULTS. ECONOMIC, BUSINESS, COMPETITIVE AND/OR REGULATORY FACTORS
AFFECTING ESSEX'S BUSINESSES ARE EXAMPLES OF FACTORS,  AMONG OTHERS,  THAT COULD
CAUSE  ACTUAL  RESULTS  TO  DIFFER   MATERIALLY  FROM  THOSE  DESCRIBED  IN  THE
FORWARD-LOOKING STATEMENTS.

MORE DETAILED  INFORMATION ABOUT THESE AND OTHER FACTORS IS SET FORTH IN ESSEX'S
ANNUAL REPORT ON FORM 10-KSB, AS AMENDED, FOR THE FISCAL YEAR ENDED DECEMBER 29,
2002.  ESSEX  IS  UNDER  NO  OBLIGATION  TO (AND  EXPRESSLY  DISCLAIMS  ANY SUCH
OBLIGATION  TO)  UPDATE OR ALTER ITS  FORWARD-LOOKING  STATEMENTS  WHETHER  AS A
RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.


                                     # # # #