Orbit International Corp. Announces Stock Repurchase Program

Business Wire, Sept 1, 1998

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Sept. 1, 1998--Orbit International Corp. (NASDAQ: ORBT) today announced that it plans to purchase up to 250,000 shares of its common stock amounting to approximately 4% of its outstanding shares, in the open market or in privately negotiated transactions. The price to be paid, timing of purchases and the aggregate number of shares to be purchased will be at the Company's discretion and subject to market conditions.

Dennis Sunshine, President and Chief Executive Officer, commented, "We remain optimistic about the business prospects of our operating segments. Our financial condition has strengthened and we believe the repurchase of our shares at this price level provides an excellent investment for our shareholders."

Orbit International Corp., based in Hauppauge, New York, is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units and low noise uninterruptable power supplies (UPS). The Behlman military division designs, manufactures and sells power conversion devices, custom power units and electronic products for measurement and display. For a more detailed discussion of the risks inherent in the Company's business the reader is referred to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1997.

This press release contains "forward-looking statements", within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the Company's expectations relating to future growth, future profitability and future revenues. These forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual future results of the Company to be materially different from such forward-looking statements. Factors that might result in such a difference include, without limitation, variable market conditions and changing needs of the defense sector. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.

CONTACT: Orbit International, Hauppauge

Mitchell Binder, Vice President, Finance

516/435-8300