Frequency Electronics Participates in Needham Growth Conference

MITCHEL FIELD, N.Y., Jan 17, 2007 (PrimeNewswire via COMTEX News Network) -- On Thursday, January 11, 2007, Frequency Electronics, Inc. (Nasdaq:FEIM), made a presentation to analysts, investors and money managers at Needham & Company's Ninth Annual Growth Conference in New York City. Alan Miller, CFO, described the outlook for Frequency's current fiscal year, ending April 30, 2007, as realizing increasing market share in Frequency's major business areas: Telecommunication Infrastructure, Satellite Payloads and Government/DOD programs. In addition, FEI will pursue mergers, acquisitions and partnerships (See press release dated January 3, 2007 regarding the acquisition of an interest in Elcom Technologies, Inc.) and that Frequency's primary focus in 2007 would be to grow revenues. President and CEO, Martin Bloch, noted that the Company's backlog is increasing and that, going forward, backlog would be the best measure to monitor progress as Frequency books additional business, particularly in the fast growing area of satellite payloads.

The PowerPoint slides and audio portion of the webcast presentation are available under the Investor Relations section of the Company's website.

About Frequency Electronics

Frequency Electronics, Inc. is a world leader in the design, development and manufacture of high precision timing, frequency control and synchronization products for space and terrestrial applications. FEI's products are used in commercial, government and military systems, including satellite payloads, missiles, UAVs, aircraft, GPS, secure radios, SCADA, energy exploration and wireline and wireless communication networks. FEI has received over 60 awards of excellence for achievements in providing high performance electronic assemblies for over 120 space programs. The Company invests significant resources in research and development and strategic acquisitions world-wide to expand its capabilities and markets.

Subsidiaries and Affiliates:

Gillam-FEI provides expertise in wireline network synchronization and SCADA; FEI-Zyfer provides GPS and secure timing ("SAASM") capabilities for critical military and commercial applications; FEI-Asia provides cost effective manufacturing and distribution capabilities in a high growth market. FEI's Morion affiliate supplies high-quality, cost effective quartz oscillators and components. Elcom Technologies provides added resources for state-of-the-art RF microwave products. 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 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, inability 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.

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SOURCE: Frequency Electronics, Inc.

Frequency Electronics, Inc.
Alan Miller, CFO
General Joseph P. Franklin, Chairman
(516) 794-4500
www.frequencyelectronics.com