BETHESDA, MD, August 17th, 1998 -- Lockheed Martin Corporation (NYSE: LMT) today announced the consolidation of its domestic and international business development organizations into a single new entity, effective October 1. The new Corporate Business Development group, led by Robert H. Trice, Jr., will focus on meeting Lockheed Martin's growth objectives in its core business areas and in closely related markets offering opportunities for rapid growth and high returns. "Integration of the business development organizations will eliminate organizational barriers for our lines of business and promote the formulation of seamless capture plans that will enable business units to compete nimbly and efficiently in U.S. and international markets," said Peter B. Teets, Lockheed Martin president and chief operating officer.

"This action also will permit us to more fully leverage business development resources -- including people, plans, and dollars -- across borders and without boundaries."

"In addition," Teets continued, "the new organization will be responsible for ongoing customer relations initiatives in line with Lockheed Martin's focus on Mission Success -- by which we mean attaining total customer satisfaction."

"With his extensive knowledge of the global marketplace and diverse experience in industry and the executive and legislative branches of government, Bob Trice brings to his new assignment a broad, strategic view of the many factors influencing the markets in which Lockheed Martin competes," Teets said. Teets noted that John F. Manuel, Lockheed Martin's vice president, domestic business development, previously announced his intention to retire.

Trice joined Lockheed Martin in 1996 as vice president, international business. He previously was vice president-international for General Dynamics Corporation, and before that served as vice president/general manager for business development at McDonnell Douglas Aerospace. Earlier in his career, Trice served as legislative assistant to Arkansas Sen. Dale Bumpers, as director of technology and arms transfer policy in the Office of Secretary of Defense, and as a member of the faculty at Ohio State University.

Trice received his bachelor's degree in government from the College of William and Mary, earned master's and doctoral degrees in political science from the University of Wisconsin, and attended the University of Chicago Graduate School of Business. He is a member of the Council on Foreign Relations and is Past Chairman of the International Council of the Aerospace Industries Association.