FEI Declares Semi-Annual Dividend

>The Board of Directors of Frequency Electronics Inc. (ASE-FEI) has declared a cash dividend of $0.10 per share, payable on June 1, 2000 to shareholders of record on April 30, 2000. The Board took this action in conformance with its established policy regarding a semi-annual cash dividend.

Frequency Electronics is a world leader in the design, development, and manufacture of high-technology frequency, timing, and synchronization products for satellite and terrestrial telecommunications. The Company's technologies provide unique solutions that are essential building blocks for the next generation of wireless and fiber optic communications systems, and for the ongoing expansion of existing wireless and wireline networks.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are forward-looking statements, and not based on historical facts are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied herein.