FARMINGTON, Conn., Sept. 6 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation (OTC Bulletin Board: EDAC), has scheduled its annual meeting of shareholders for October 22, 2002 and its record date for voting at the annual meeting as September 10, 2002. The Company anticipates mailing proxy materials to its shareholders on or about September 17, 2002. The Company had previously postponed its annual meeting which was originally scheduled for June 27, 2002.

About EDAC Technologies Corporation

EDAC Technologies Corporation's Gros-Ite Industries division primarily offers design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment and gauges and components used in the manufacture, assembly and inspection of jet engines. Gros-Ite Spindle specializes in the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment. Apex Machine Tool Company is a diversified manufacturing company specializing in high-precision fixtures, gauges, dies and molds.

     For further information, please contact:
     Ronald G. Popolizio
     Executive Vice President
     Tel: (860) 677-2603
     E-mail: 
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