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Herley Reports Third Quarter Results
Date:6/12/2008

Management believes that this information is important to investors for a meaningful analysis of our financial performance.

Myron Levy, Herley Chairman and CEO commented, "It is no surprise that the Company's third quarter and fiscal year results were affected by very unusual and significant events. The good news is that these events are finally behind us and we are looking to the future. Management is in the process of reviewing our fiscal 2009 budgets. For the first time in several years, I believe that legal expense will not be a dominant factor. During the budgeting process we carefully review the military and commercial programs that are important to Herley's success. By evaluating our past successes, we can more successfully plan for FY 2009 and beyond. We believe that our strong past performance on well-funded, long-term U.S. military programs such as Trident D-5, EA-18G, AN/ARA-63 Tactical Instrument Landing System, and AMRAAM, will contribute significantly to our continued success for the long term. The Company's bookings continue to be strong; we have a record-level backlog; and we continue to extend our reach into the international market. We are also continuing to take the steps necessary to achieve more efficient operations, so that we can better meet the requirements of current and future customers."

Mr. Levy will host a conference call on June 13, 2008 at 9:00 a.m. Eastern time to discuss financial results for the third quarter ended May 4, 2008. To join the conference call dial 1 (888) 425-4188, referencing Conference ID 50633300.

A taped replay of the call will be available on June 13, 2008 at 11:00 a.m. through June 20, 2008 at 11:59 p.m. Eastern time. To listen to the replay dial: 1 (800) 642-1687 (U.S.) or 1 (706) 645-9291 (International), and Conference ID 50633300.

In addition, the conference call will be broadcast live over the Internet and can be accessed through the following URL:

SOURCE Herley Industries, Inc.
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