A Global
Positioning System (GPS) satellite built by Lockheed Martin for the U.S. Air
Force, was successfully launched today from Cape Canaveral. The satellite,
designated GPS IIR-9, was the eighth successful launch of the new-generation
GPS IIR spacecraft that will improve global coverage and increase the overall
performance of the GPS constellation.

This satellite will join the GPS IIR-8 satellite launched on Jan. 29,
2003, which is now fully operational along with the 26 other operational GPS
satellites now on orbit. Lockheed Martin has delivered 21 of these satellites
to the U.S. Air Force Space and Missile Systems Center, Los Angeles Air Force
Base, Calif. to sustain the GPS constellation. 12 satellites remain in
storage to support future launches.

“We are proud of our partnership with the Air Force in carrying out the
important mission of the GPS system,” said Manny Dimiceli, vice president of
Lockheed Martin Space & Strategic Missiles. “We look forward to providing
another excellent satellite with upgraded navigational capability for
government, commercial and private users world-wide.”

The Global Positioning System allows any properly equipped user to
determine precise time and velocity and worldwide latitude, longitude and
altitude to within a few meters. Although originally designed as a guidance
and navigational tool for the military, GPS has proven beneficial in the
commercial and civil markets for transportation, surveying and rescue
operations.

The GPS IIR satellites are compatible with the current system and provide
improved navigation accuracy, achieved by using an ITT Industries payload
system. Additionally, increased autonomy and longer spacecraft life are
inherent in the Lockheed Martin satellite design.

To bring new capabilities to the GPS constellation, Lockheed Martin is
under contract to modernize up to eight existing GPS IIR spacecraft already
built and in storage. These spacecraft, designated GPS IIR-M, will
incorporate two new military signals and a second civil signal, thus providing
military and civilian users of the navigation system with improved
capabilities much sooner than previously envisioned.

GPS modernization is being performed at the Space Systems – Valley Forge,
Pa. facilities and ITT Industries, Clifton, N.J. facilities. First launch of a
GPS IIR-M satellite will be available by July 2004. The U.S. Air Force Space
and Missile Systems Center, El Segundo, Calif., is the contracting agency.

Space & Strategic Missiles is part of Lockheed Martin Space Systems
Company, headquartered in Denver, Colo., one of the major operating units of
Lockheed Martin Corporation. Space Systems designs, develops, tests,
manufactures and operates a variety of advanced technology systems for
military, civil and commercial customers. Chief products include space launch
and ground systems, remote sensing and communications satellites for
commercial and government customers, advanced space observatories and
interplanetary spacecraft, fleet ballistic missiles and missile defense
systems.

Contact: Steve Tatum 408-742-7531

Pager: 888-926-2912

stephen.o.tatum@lmco.com