Lockheed Martin Establishes Wounded Warrior Scholarship Fund With The Marine Corps Scholarship Foundation

BETHESDA, Md., October 31, 2011 --

Lockheed Martin announced a $2.5 million gift today to the Marine Corps Scholarship Foundation to establish a new scholarship for the children of severely wounded U.S. Marines or U.S. Navy Corpsmen.

The Lockheed Martin Severely Wounded Warrior Scholarship provides up to $30,000 over four years to the eligible sons and daughters of Marines and Navy Corpsmen who have sustained permanent disabilities in combat. Since 1962, the Marine Corps Scholarship Foundation has provided more than 27,000 scholarships valued at more than $67 million.

"We owe an enormous debt of gratitude to the servicemen and women who have sacrificed so much to protect our nation," said Bob Stevens, chairman and CEO, Lockheed Martin Corporation. "We are honored to partner with the Marine Corps Scholarship Foundation to help give the children of our severely wounded Marines and Navy Corpsmen the opportunity to go to college." 

More than 12,000 Marines have been wounded in combat in the post-9/11 wars in Iraq and Afghanistan. These Marines are parents of more than 6,000 children. 

"Children of severely wounded service members often face even greater challenges and substantial financial constraints in their pursuit of higher education," said Margaret B. Davis, president and CEO of the Marine Corps Scholarship Foundation. "Our partnership with Lockheed Martin gives back to our Marine Corps and Navy Corpsmen by ensuring their children are able to access higher education opportunities."

The first Lockheed Martin Severely Wounded Warrior Scholarship recipients will be announced during the foundation's 50th anniversary celebrations in May 2012.

ABOUT THE MARINE CORPS SCHOLARSHIP FOUNDATION: The Marine Corps Scholarship Foundation is the nation's oldest and largest provider of need-based scholarships to U.S. military families. Since 1962, the Foundation has provided more than 27,000 scholarships valued at over $67,000,000 to Marine Corps sons and daughters whose parents have been killed or wounded in combat or have demonstrated financial need. The Foundation is proud to have been named by Independent Charities of America as ‘Best in America' for demonstrating "the highest standards of public accountability, program effectiveness, and cost effectiveness." For more information on the Marine Corps Scholarship Foundation please visit www.mcsf.org.

ABOUT LOCKHEED MARTIN CORPORATION: Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's 2010 sales from continuing operations were $45.8 billion.

Lockheed Martin Media Contact:
Chris Williams, 301-897-6934; christopher.1.williams@lmco.com

Marine Corps Scholarship Foundation Media Contact:
Eugenia Gardner, 703-549-0060 ext. 2008; eugenia.gardner@mcsf.org

www.lockheedmartin.com