EDAC Technologies Announces Contract With Machinery Manufacturer For Application Of Its High Speed Hydrostatic Spindle

EDAC Technologies Announces Contract With Machinery Manufacturer
For Application Of Its High Speed Hydrostatic Spindle 


FARMINGTON, Conn., June 23  /PRNewswire/ -- EDAC Technologies Corporation (the
"Company") (OTC:EDAC.OB) (BULLETIN BOARD: EDAC.OB) , a designer and
manufacturer of tools, fixtures, jet engine components, injection molds and
spindles, today reported the signing of an agreement with a major European
equipment manufacturer of precision grinding machines. The multi-year agreement
provides for the exclusive use of EDAC's patented Hydrostatic High Speed Work
Head Spindles as part of their standard product line.

Cautionary Statement Regarding Forward Looking Statements - This press release
contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995.  The Company uses words such as
"plans," seeks," "projects," "expects," "believes," "may," "anticipates,"
"estimates," "should," and similar expressions to identify these forward
looking statements.  These statements are subject to risks and uncertainties
and are based upon the Company's beliefs and assumptions.  There are a number
of important factors that may affect the Company's actual performance and
results and the accuracy of its forward-looking statements, many of which are
beyond the control of the Company and are difficult to predict.  These
important factors include, without limitation, factors which could affect
demand for the Company's products and services such as general economic
conditions and economic conditions in the aerospace industry and the other
industries in which the Company competes; competition from the Company's
competitors; and the Company's ability to enter into satisfactory financing
arrangements.  These and other factors are described in the Company's annual
and quarterly reports filed from time to time with the Securities and Exchange
Commission.  In addition, the forward-looking statements included in this press
release represent the Company's expectations and beliefs as of the date of this
release.  The Company anticipates that subsequent events and developments may
cause these expectations and beliefs to change.  However, while the Company may
elect to update these forward-looking statements at some point in the future,
it specifically disclaims any obligation or intention to do so.

  For further information, please contact:
   Glenn L. Purple
   Vice President-Finance
   Tel: [phone]


DATASOURCE: EDAC Technologies Corporation



CONTACT: Glenn L. Purple, Vice President-Finance, EDAC Technologies

Corporation, [phone] 



Web site:  http://www.edactechnologies.com/

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