Lockheed Martin Awarded $16.5 Million for Paveway II Enhanced Laser Guided Training Rounds

ARCHBALD, PA, 06/29/2009 -- Lockheed Martin [NYSE: LMT] has been awarded a $16.5 million order to deliver paveway II Enhanced Laser Guided Training Rounds (E-LGTR) to the U.S. Navy. This award represents the fourth option to a 2005 indefinite delivery/indefinite quantity contract, valued in excess of $114 million.

Under the award, Lockheed Martin will extend production deliveries of E-LGTRs to the U.S. Navy during 2010. This will bring the total quantity of LGTRs awarded on this contract to over 50,000.

"It is critical that our Warfighter has the tools to train exactly as they fight. Lockheed Martin's E-LGTR is a proven, combat representative munition that provides the Warfighter with operationally realistic and cost-effective direct-attack weapons employment training," said Capt. Mat Winter, U.S. Navy Precision Strike Weapons Program Manager. "From the training ranges to the battlefield, I have received positive feedback on the E-LGTRs impact on the Warfighter's mission effectiveness. With this contract award, I look forward to our continued partnership to ensure the Warfighter is ready to fight, and win."

The paveway II E-LGTR is used to maintain aircrew proficiency and eliminate consumption of paveway II Laser Guided Bomb (LGB) inventory when training aircrews in live-fire exercises and weapons delivery. Recognized worldwide as the only available live-fire training solution for Warfighters, the E-LGTRs are a cost-effective training solution for all paveway II laser guided weapons.

The E-LGTR is fully compatible with F-16, FA-18, AV-8 and multiple international platforms. Lockheed Martin has delivered over 82,000 units to U.S. Navy and international customers since 1992, representing a savings in excess of $1.3 billon when compared to training with paveway II tactical weapons.

Paveway is a generic term, developed by the U.S. Air Force, for laser guided weapon systems. Lockheed Martin is a fully qualified provider of paveway II LGB and Dual Mode Laser Guided Bomb kits and provides these systems to the U.S. Air Force, U.S. Navy and international customers. Lockheed Martin also supports paveway weapon systems by being the sole source provider of the paveway II E-LGTR.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 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 2008 sales of $42.7 billion.

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