EDO Corp. Awarded Contract Valued at Up to $2 Million to Repair U.S. Submarine Sonar Transducers

Business Wire, Dec 16, 1999

NEW YORK--(BUSINESS WIRE)--Dec. 16, 1999--

EDO Corp. (NYSE:EDO) today announced that it has been awarded a contract by the Department of the Navy valued at up to $2 million, if all options are exercised, for the screening and restoration of major stocks of attack submarine active sonar TR-317B transducers.

Orders under this contract are anticipated to begin in early 2000 and extend through approximately 2005. The contract will be performed at EDO's Electro-Ceramic Products facility in Salt Lake City.

Frank A. Fariello, chairman and chief executive officer, said: "This latest contract win demonstrates EDO's competitiveness in sonar transducers and arrays, one of our core technology and market areas. It also reflects the Navy's confidence in our ability to support the objective of maximizing the service life of the nation's attack submarine force."

Used to detect and localize targets by active sonar, the TR-317B transducer is installed in the main hull-mounted active spherical array on all U.S. Navy attack submarines. Large numbers of these transducers are stocked by the U.S. Navy to support fleet requirements for new and restored units.

About EDO Corp.

EDO (www.edocorp.com) designs and manufactures advanced electronic, mechanical and electro-optical systems and engineered materials for domestic and international defense and industrial markets.

The statements contained in this release that are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties, including, without limitation, demand and competition for the company's products, and other risks or uncertainties detailed in the company's Securities and Exchange Commission filings.