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LOCKHEED MARTIN RECEIVES A $19 MILLION AWARD FOR PAVEWAY II ENHANCED LASER GUIDED TRAINING ROUNDS

ARCHBALD, PA, October 5, 2006 --

Lockheed Martin [NYSE: LMT] has received a contract valued at $19 million to deliver an enhanced version of the Paveway II Laser Guided Training Round (LGTR) to the U.S. Navy next year. The indefinite delivery/indefinite quantity (ID/IQ) award includes four one-year options for LGTRs each year through March 2009, totaling $114 million if all options are exercised.

“Lockheed Martin offered the Paveway II LGTR warfighter training solution to the U.S. Navy in 1990 and we have delivered over 50,000 units to date,” said Cynthia Sailar, vice president and general manager - Lockheed Martin Missiles and Fire Control in Archbald, PA. “We are pleased to continue offering the only solution for real-time combat training where warfighters can reap the benefits of performing actual pilot maneuvers, laser positioning and weapons release.”

“Lockheed Martin continues to be the sole source provider of live-fire training for our warfighters,” said U.S. Representative Don Sherwood, (R-PA). “It continues to save millions of tax dollars while sustaining jobs in Northeast Pennsylvania as well as provide a valuable training tool for our nation’s warfighters.”

Paveway II LGTRs are used in place of the U.S. Navy’s current inventory of munitions to train aircrews in live-fire training and weapons delivery proficiency without the high cost of using real assets during exercises. LGTRs are fully compatible with F-16, F-18, AV-8 and multiple international platforms.

The enhanced version of the Paveway II LGTR is a direct result of a joint Lockheed Martin-U.S. Navy continuous product improvement program to increase warfighter training versatility and enhance performance in airborne lasing in tactical target environments.

In addition to the Paveway II LGTR, Lockheed Martin’s 350,000-square foot facility, located in Northeastern Pennsylvania, designs and manufactures Paveway Laser Guided Bomb (LGB) kits, Paveway Dual Mode Laser Guided Bomb (DMLGB) kits, specialized instrumentation and control systems, and provides manufacturing services such as state-of-the-art metal crafting and electro-mechanical assemblies.

Paveway is a generic term, developed by the Air Force, for a family of laser guided weapon systems. Lockheed Martin is a fully qualified provider of Paveway laser guided bomb (LGB) kits and has delivered/and is delivering these systems to the U.S. Air Force, U.S. Navy and international customers. Lockheed Martin supports the entire family of Paveway weapon systems, including being the sole source provider of both the Paveway II Dual Mode Laser Guided Bomb (DMLGB) kit and the Paveway laser guided training round (LGTR).

Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2005 sales of $37.2 billion.

Contact:
Jennifer Allen, (407) 356-5351
e-mail jennifer.l.allen@lmco.com