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Lockheed Martin Vought Systems and DaimlerChrysler Aerospace AG Establish Joint Venture Company for PAC-3 Missiles

DALLAS, TX and MUNICH, GERMANY, February 11th, 1999 -- Lockheed Martin Vought Systems of Dallas, Texas, and DaimlerChrysler Aerospace AG (Dasa) of Munich, Germany, have established a joint venture company for PAC-3 Missile work in Germany.

The new joint venture company is expected to be the venue for offset production of missile equipment, and final missile integration, test and logistic support for the Patriot Advanced Capability-3 (PAC-3) Missile procurement of Germany. It is also anticipated that the company will play a significant role in the application of the PAC-3 Missile future growth potential.

At a meeting yesterday in Munich, representatives of both parent companies signed the documents which will be used to register the new German company. It will formally be known as GLVS-Gesellschaft fur Luftverteidigungssysteme mbH, which is translated "Air Defense Systems Company." Gunter Stammler of DaimlerChrysler Aerospace AG and Ed Ulery of Lockheed Martin Vought Systems have been nominated as General Managers.

"This strategic partnership between Lockheed Martin Vought Systems and DaimlerChrysler Aerospace will provide state-of-the-art PAC-3 Missile-related equipment and support to our customers," said Jim Berry, president of Lockheed Martin Vought Systems. "Our commitment is to our customers, and this partnership will tie our two companies together with the goal of total customer satisfaction."

"The new relationship with Lockheed Martin Vought Systems is compatible with our strategic interest to cooperate in the field of the PAC-3 Missile Segment and its growth potential to meet future defense requirements," said Ulf Wossagk, vice president and general manager - Dasa Missile and Air Defense Systems.

Planning for the joint venture began in early 1998 with the signing of an agreement between the two companies to explore the partnership parameters. Since that time, Lockheed Martin Vought Systems and DaimlerChrysler Aerospace have worked closely together to structure an organization that will provide enhanced products and services to both current and future customers.

DaimlerChrysler Aerospace, the leading German aerospace company, integrates military and commercial aircraft, helicopter, space, defense and aeroengines activities of DaimlerChrysler Group. Dasa operates on a world- wide basis. It is a partner in a large number of international collaborations and alliances. Its Defense and Civil Systems business unit is active in the fields of defense electronics, guided missile systems and telecommunications equipment, and provides solutions on a broad technological basis for complex systems.

Lockheed Martin Vought Systems manufactures missile, rocket and space systems, and is a business unit of Lockheed Martin Electronics Sector, a global leader in the design, development and production of advanced electronics for defense, civil and commercial applications.

Craig Vanbebber, 972-603-1615
e-mail craig.vanbebber@lmco.com