BETHESDA, MD, September 30th, 1998 -- Lockheed Martin (NYSE: LMT) today appointed Thomas A. Corcoran as the new president and chief operating officer of its Space & Strategic Missiles Sector. Corcoran, currently president and COO of the Corporation's Electronics Sector, succeeds Melvin R. Brashears, who is departing Lockheed Martin. Robert B. Coutts, currently president of Lockheed Martin Government Electronic Systems, will succeed Corcoran in the Electronics Sector post. "We are indebted to Mel Brashears for his 26 years service to Lockheed Martin, including nearly three years as head of our Space & Strategic Missiles Sector. We wish him well as he embarks upon new opportunities," said Vance Coffman, the Corporation's chairman and chief executive officer.

"These sector organizational changes further illustrate Lockheed Martin's management strength and management versatility with Tom Corcoran and Bob Coutts both fully prepared to assume new and challenging leadership positions in lines of business that account for more than half of the Corporation's annual sales," Coffman said.

Corcoran, 54, has led Lockheed Martin Electronics Sector since the 1995 merger of Lockheed and Martin Marietta. Corcoran began his career in 1967 at the General Electric Company, progressing rapidly through a variety of increasingly responsible positions.

Corcoran moved to GE Aerospace in 1983, serving in a series of key general management assignments. In 1991, he was appointed vice president and general manager of GE Aerospace Operations, responsible for all manufacturing and sourcing throughout GE Aerospace's 13 business units. Subsequently, he assumed additional duties with full management responsibility for five of the 13 business units. When GE Aerospace merged with Martin Marietta in 1993, Corcoran was named president of the new company's Electronics Group.

Born in County Cavan, Ireland, Corcoran earned a bachelor's degree in chemical and mechanical engineering from New Jersey's Stevens Institute of Technology and is a graduate of the GE Manufacturing Management Program. He is a member of the board of trustees of Stevens Institute of Technology and Worcester Polytechnic Institute. He also is a member of the board of directors of L3 Communications Corp.

The Space & Strategic Missiles Sector designs, develops, manufactures and supports a variety of advanced-technology systems for domestic and international military, classified, civil and commercial markets. Major products include space systems, launch vehicles, strategic and defensive missile systems and supporting ground systems.

Coutts, 48, has served as president of Lockheed Martin Government Electronics Systems in Moorestown, New Jersey, since 1997, and previously was president of Lockheed Martin Aero & Naval Systems. Coutts began his career at GE in 1972, advancing through a series of increasingly important management positions across GE's diverse product lines.

In 1989, he joined GE Aircraft Engine Production Division as manager of inventory and asset management, and subsequently was named general manager of GE Aerospace's Syracuse-Utica manufacturing operations department. Upon the 1993 merger of GE Aerospace and Martin Marietta, Coutts was named vice president, material acquisition and subcontract management.

A native of Westbury, N.Y., Coutts holds a bachelor of science degree in mechanical engineering from Tufts University, and also graduated from the GE Manufacturing Management Program. He is a member of the American Society of Mechanical Engineers and the Tau Beta Pi honorary engineering fraternity. A successor to Coutts at Government Electronic Systems will be announced in the near future.

Lockheed Martin's Electronics Sector is focused on electronics products and systems for space, airborne, sea and undersea and land-based applications in global aerospace, defense and commercial markets.