Frequency Electronics Elects New Director

MITCHEL FIELD, N.Y.--(BUSINESS WIRE)--Oct. 19, 2000--Following the Annual Meeting of Stockholders today, Frequency Electronics' Board of Directors voted to expand its membership in order to nominate and elect Mr. Michel Gillard to serve as a Director until the next election.

Mr. Gillard is the Managing Director of Gillam-FEI, the Company's wholly owned subsidiary in Liege, Belgium. He is a graduate of the University of Liege, with a Master's degree in metallurgy. From 1969 to 1973, Mr. Gillard was the Manager of Quality for the Belgium facility of C.P. Clare International, a U.S. electronics firm. He became Managing Director of Gillam in 1974, a position he has since held continuously.

Frequency Electronics, Inc. is a world leader in the design, development and manufacture of high-technology frequency, timing and synchronization products for satellite and terrestrial voice, video and data telecommunications. The Company's technologies provide unique solutions that are essential building blocks for the next generation of broadband wireless and fiber optic communications systems, and for the ongoing expansion of existing wireless and wireline networks. Additional information is available on FEI's website: www.frequencyelectronics.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Statements in this press release regarding future earnings and operations and other statements relating to the future constitute "forward-looking" statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, ability to integrate operations and personnel, actions by significant customers or competitors, general domestic and international economic conditions, consumer spending trends, reliance on key customers, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, product prices and raw material costs, dependence upon third-party vendors, competitive developments, changes in manufacturing and transportation costs, the availability of capital, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.