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Lockheed Martin Awards General Electric Company $50 Million Contract for Presidential Helicopter Engines

OWEGO, NY, June 15th, 2005 -- Lockheed Martin [NYSE: LMT] has awarded General Electric Company a $50 million contract to provide CT7-8E engines for use during the system development & demonstration (SDD) phase of the Presidential Helicopter Replacement program. Work under this contract will begin immediately and continue through 2008. The engines will be assembled at the General Electric facility in Lynn, MA.

“We’re very pleased GE is now under contract to provide engines to power the new Marine One helicopter,” said Pat Dewar, vice president of the Presidential Helicopter program at Lockheed Martin Systems Integration - Owego. “This is a significant and visible step toward seeing these new helicopters fly from the White House’s South Lawn as scheduled in 2009.”

Certified by the U.S. Federal Aviation Administration (FAA) in 2004, the CT7-8E is a derivative of GE's successful T700/CT7 family of turboprop and turboshaft engines, powering 25 types of helicopters and fixed-wing aircraft in service with more than 130 customers in more than 50 countries. Three GE engines power each new Presidential Helicopter.

GE is a diversified technology, media and financial services company headquartered in Fairfield, CT. From aircraft engines and power generation to financial services, medical imaging, television programming and plastics, GE operates in more than 100 countries and employs more than 300,000 people worldwide. GE Transportation comprises aircraft engines and rail, two industry-leading business units whose products and services span the aviation, rail, marine and off-highway industries with jet engines for military and civil aircraft, freight and passenger locomotives, motorized systems for mining trucks and drills, and gas turbines for marine and industrial applications.

Lockheed Martin Systems Integration - Owego is the prime contractor and systems integrator for the U.S. Navy’s Presidential Helicopter Replacement Program. An American variant of AgustaWestland’s successful EH101 multimission helicopter, the US101 aircraft is built from components provided by more than 200 suppliers in 41 states.

Greg Caires, US101 Communications, (607) 751-3200; e-mail, greg.a.caires@lmco.com
Greg Haas, General Electric Communications, (513) 243-4714; e-mail, gregory.e.haas@ae.ge.com