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EDO Corporation Declares Quarterly CashDividend.

NEW YORK--(BUSINESS WIRE)--Nov. 24, 1998--EDO Corporation (NYSE:EDO) Tuesday announced that its board of directors has declared a quarterly cash dividend on its common stock of $0.03 per share, payable on Jan. 4, 1999, to shareholders of record at the close of business on Dec. 10, 1998.

> Frank A. Fariello, chairman and CEO of EDO Corporation, said: "The board of directors is pleased to declare a dividend for the fourth quarter based on sustained operating results. The board continues to review the dividend payout on a quarterly basis, with the objective of optimizing shareholders' return on investment consistent with the company's profitability and capital requirements."

EDO Corporation (http://www.edocorp.com) designs and manufactures advanced electro optical, electronic, mechanical, acoustic and composite products for the defense and aerospace industries.

The statements contained in this release which 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.

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