EDO Edo Corp

EDO Corporation (NYSE: EDO) has been awarded a contract from General Atomics Aeronautical Systems, Inc. (GA-ASI) to develop a weapon carriage and release system for the MQ-9 Predator B unmanned aircraft system (UAS). The initial system design and development contract is valued at $1.4 million. GA-ASI is the prime contractor for the successful Predator UAS. The MQ-1 Predator has been operational since 1995 and has flown thousands of missions in support of NATO, UN and US operations. In 2005, GA-ASI received a contract from the USAF to acquire the MQ-9 "Hunter-Killer" version of the aircraft. The MQ-9 is the next generation of the Predator, whose military role is expected to expand considerably over the next few years. "The Predator UAS Series is clearly an important focus of future defense capabilities," said James M. Smith, EDO's chief executive officer. "We are very pleased to be working with General Atomics Aeronautical Systems to solve the engineering challenges needed to provide improved weapons carriage and release capabilities for Predator B. We believe that the Predator is one of the most promising and proven UAS platforms." The current planned total production of the MQ-9 Predator B is well over 100 aircraft. The MQ-9 has significantly higher performance than the original Predator. It has an operational ceiling of 50,000 feet, a maximum internal payload of 800 pounds, and an external payload of 3,000 pounds. EDO Corporation designs and manufactures a diverse range of products for defense, intelligence, and commercial markets, and provides related engineering and professional services. Major product groups include: Defense Electronics, Communications, Aircraft Armament Systems, Undersea Warfare, and Integrated Composite Structures. EDO's advanced systems are at the core of the transformation to lighter, faster, and smarter defense capabilities. EDO (www.edocorp.com) was founded in 1925 and is headquartered in New York City. The company employs 3,000 people and had revenues of $536 million in 2004. Forward-Looking Statements Certain statements made in this release, including statements about future revenue and revenue growth, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 and services, product mix, the timing of customer orders and deliveries, the impact of competitive products and services and pricing, 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.