New Exact Orders

PEABODY, MA (May 3, 2004) – John W. Wood Jr., President and CEO of Analogic Corporation (NASDAQ: ALOG), announced today that the Board of Directors has elected John A. Tarello as Chairman of the Board, succeeding Bernard M. Gordon. Mr. Wood said, “Mr. Gordon had indicated at the January shareholders’ meeting and to the Board that he intended to step down as Chairman this year. Bernie is truly irreplaceable, but we are fortunate to have a leader possessing John Tarello’s experience and knowledge of the Company and our industry to guide us going forward.”

Mr. Tarello, 72, has been a member of the Analogic Board since 1979 and was employed at Analogic for thirty years, retiring as Senior Vice President, Treasurer, and Chief Financial officer of the Company in 1999. A graduate of Burdett College, he is also a director of Spire Corporation. Gordon, who was recently re-elected to the Board for a three-year term, will remain a director of the Company. The Board has honored Mr. Gordon, who recently retired as an Analogic employee, with the title, “Founder and Chairman Emeritus.”

Gordon, 77, recognized as the “father of high-speed analog-to-digital conversion,” founded Analogic Corporation in 1967 and is internationally known for the numerous inventions conceived by him and the engineering teams that he has led for over five decades. These inventions include digital Doppler radar; the once ubiquitous dot matrix computer display; the first high-speed analog-to-digital converters; digitization of music and video; the first fetal monitors; instant imaging computed tomography (CT) systems; quadrature-based beam phased-array ultrasound systems; and lightweight, mobile CT systems, among many other innovations. For his pioneering developments, he was awarded the National Medal of Technology by President Reagan in 1986 and has received many other significant honors.

Mr. Tarello said, “Under Bernie’s leadership, Analogic grew from a one-room operation to a company that reported a record $470 million in revenue in FY 2003. In the process, he built a company that is recognized around the world for its rich technological resources and its preeminence as a supplier of advanced medical systems and subsystems to Original Equipment Manufacturers (OEMs). Bernie created a uniquely intense and competitive engineering culture at Analogic that has kept it at the forefront of medical imaging technology. That culture has enabled the Company to achieve a similar status in the rapidly evolving field of security imaging and detection. The Board is profoundly grateful for Mr. Gordon’s immeasurable contributions to the Company over more than three decades, and fully supports John Wood as he builds on Mr. Gordon’s legacy.”

John Wood said, “Bernie Gordon is truly unique. He has earned one hundred U.S. patents to date, and built one of the world’s most successful OEM engineering and manufacturing companies. One of the last of the ‘Giants’ of Route 128, ‘America’s Technology Highway,’ Bernie has been acutely aware that many of area’s leading technology companies have not long survived their founders’ retirements. A key objective for him has been to implement a successful transition in leadership. John and I are honored to be a part of that transition. We believe that Bernie has positioned the Company for substantial long-term growth in both medical and security technology.”

Analogic Corporation is a leading custom designer and manufacturer of advanced systems and subsystems sold primarily to major medical and security Original Equipment Manufacturers (OEMs). The Company is recognized worldwide for advancing the state of the art in Computed Tomography, Ultrasound, Magnetic Resonance Imaging (MRI), Patient Monitoring, Cardiovascular Information Management, and Embedded Multicomputing applications.