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ATK and Lockheed Martin to Develop Conventional Ballistic Missile for U.S. Navy

Global Strike Builds on ATK/Lockheed Martin Strategic Deterrence Partnership

Jul 12, 2005

Minneapolis, July 12, 2005 – Alliant Techsystems (NYSE: ATK) and Lockheed Martin (NYSE: LMT) have been awarded a $9.2 million contract by the U.S. Navy’s Strategic Systems Program (SSP) office to demonstrate and validate solid rocket motor technologies suitable for a Submarine Launched Intermediate Range Ballistic Missile (SLIRBM).

SLIRBM is a conventional missile concept that builds on the heritage the two companies share in U.S. Navy strategic missile development (Lockheed Martin and ATK provide the U.S. Navy with the submarine-launched Trident D5 nuclear ballistic missile). SLIRBM is designed to precisely deliver a conventional payload on target at ranges in excess of 1100 miles within 10-15 minutes of launch.

ATK and Lockheed Martin will develop SLIRBM using numerous off-the-shelf components to speed the development of a low-cost solution while minimizing program risk. The SLIRBM design will share common hardware across all stages of the propulsion system to shorten development time while keeping the missile’s cost and complexity to a minimum.

Under the 16-month contract, ATK and Lockheed Martin will develop the missile and validate its concept with first and second stage static firings conducted at ATK Thiokol’s solid rocket motor facilities in Promontory, Utah. ATK Thiokol is the world’s leading provider of solid rocket motors and associated technologies.

ATK will lead the Ground Demonstration Integrated Product Team (IPT) while Lockheed Martin will serve as overall systems integrator and lead a Missile System Trade Study IPT. After completing ground demonstrations, ATK and Lockheed Martin will work to transition the program to the flight demonstration phase in the 2008 timeframe.

ATK is a $3.0 billion advanced weapon and space systems company employing approximately 14,000 people in 23 states. News and information can be found on the Internet at www.atk.com.

Headquartered in Bethesda, Md., Lockheed Martin employs about 130,000 people worldwide and is principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. The corporation reported 2004 sales of $35.5 billion.

Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: the difficulties of developing next-generation missile technology, changes in governmental spending and budgetary policies, economic conditions, equity market returns, the company's competitive environment, the timing of awards and contracts, and program performance. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and the statements contained herein, reference should be made to ATK’s filings with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K.