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Lockheed Martin Selected for $54 Million Korean Radar Contract

SYRACUSE, NY, December 7th, 2000 -- Lockheed Martin announced today that it has been selected by the Republic of Korean Air Force (ROKAF) to provide four more AN/FPS-117 radars to supplement the existing eight systems that the ROKAF uses for air surveillance. The contract value is $54.2 million. Lockheed Martin will team with Korean defense industry leader, LG Innotek, Ltd. (LGIT), to deliver the radars by 2003. Lockheed Martin will produce the first two radar systems at its facility in Syracuse, NY. LGIT will participate in production of the third and fourth systems, with responsibility for major electronic components and subsystems.

Separately, Lockheed Martin also is competing for a ROKAF requirement for three tactically transportable radars, and has offered the TPS-117, the transportable version of the FPS-117. LGIT will be in a position to participate in that program, as well. The TPS-117 has been selected in each of the last four international competitions for transportable 3D radars and 14 systems are currently in production or on order.

The AN/FPS-117 is the world standard in long range 3-D radars and is used by the U.S. and many of its allies. Certified by the USAF and NATO, there are 90 systems operational in 15 countries. The new Korean AN/FPS-117s will be networked with the existing air defense system. Sophisticated performance monitoring and self-tuning eliminate daily maintenance and enable remote system diagnostics. In most cases, component failures can accumulate for up to three months and are repaired during scheduled preventive maintenance periods.

"We are delighted to provide four additional radars to the Republic of Korea Air Force and appreciate this latest endorsement of our strong relationship and our high-quality AN/FPS-117 radar," said Mike Smith, president, Naval Electronics & Surveillance Systems - Radar Systems. "We also are fortunate to have a well-regarded in-country partner, LGIT, to assist in radar manufacturing and assembly."

A leader in the design, development and integration of radar systems, vessel traffic management, simulation and training systems, and other complex electronic systems, Lockheed Martin Naval Electronics & Surveillance Systems-Radar Systems serves customers including all branches of the U.S. armed forces, the U.S. Coast Guard, the U.S. Departments of Commerce, Transportation and State, and defense and transportation departments of countries on six continents. NE&SS-Radar Systems employs approximately 2,100 people at its Syracuse, N.Y., headquarters and is a unit of Lockheed Martin Corporation.

Ellen Mitchell, 315-456-3296; ellen.mitchell@lmco.com