White Electronic Designs Corporation Announces Public Offering of Common Stock

Phoenix, AZ. July 2, 2003� White Electronic Designs Corporation (NASDAQ: WEDC) announced today that it has commenced a public offering of 4,500,000 shares of its common stock at a price of $10.00 per share. The company is selling 2,200,000 shares, while 2,300,000 shares are being sold by selling shareholders. The company and the selling shareholders have granted the underwriters an option to purchase up to an additional 675,000 shares of common stock to cover over-allotments, if any.

The offering is being managed by Needham & Company, Inc. and co-managed by A.G. Edwards & Sons, Inc. and Raymond James & Associates, Inc. Copies of the prospectus relating to this offering may be obtained from Needham & Company, Inc., 445 Park Avenue, New York City, New York 10022; A.G. Edwards & Sons, Inc., One North Jefferson, St. Louis, Missouri 63103 and Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

White Electronic Designs Corporation designs, develops and manufactures innovative microelectronic and display components and systems for high technology products used in military and commercial markets.

White Electronic Designs Corporation

http://www.whiteedc.com