BETHESDA, MD, May 5th, 1999 -- Lockheed Martin has named Janet L. McGregor as the Corporation's Vice President and Treasurer, succeeding Walter E. Skowronski. The move is effective immediately. "The depth and breadth of Janet's experience in the financial activities of the corporation, combined with her demonstrated leadership in enhancing corporate value, will serve Lockheed Martin well," said Chairman and CEO Vance Coffman.

Ms. McGregor has served as Vice President-Finance for Lockheed Martin's Electronics Sector since 1996. Immediately following the merger of Lockheed and Martin Marietta in March 1995, she served as Vice President and Assistant Treasurer. Prior to the merger, she had been Treasurer of Martin Marietta Corporation since 1992.

Ms. McGregor joined Martin Marietta Corporation's Treasury department in 1979, progressing through increasingly responsible positions including Cash Manager, Manager of Financial Planning, and Manager of Corporate Finance. In 1984, she was named Assistant Treasurer, Corporate Finance, and in 1991 became Deputy Treasurer. Before joining Martin Marietta she was with the American Banker's Association as Assistant to the Financial Director.

Ms. McGregor led the financing efforts for the acquisitions of GE Aerospace and Loral Corp. She has been a key participant in a variety of corporate finance activities, including those related to the Bendix attempted takeover of Martin Marietta, the acquisition of the commercial space business of General Dynamics, the initial public offering of Martin Marietta Materials, Inc., the financing for the attempted tender offer for Grumman, and the Lockheed Martin merger. Areas of responsibility have included capital and currency markets, syndicated commercial bank credits, benefits pricing and administration, actuary oversight, insurance, and investment analysis and valuation. Ms. McGregor has also served on several internal committees overseeing pension and savings plans.

She is a member of the National Association of Corporate Treasurers, and a member of the Financial Executives Institute. She is also active in the Alumni Fundraising for Transylvania University, and an active member of St. John's Episcopal Church in McLean, Virginia.

Born in Alexandria, Virginia, in 1954, Ms. McGregor earned a bachelor's degree in psychology from Transylvania University in Lexington, Kentucky, and was awarded a master's degree in 1978 in business administration from American University in Washington, D.C. She resides in McLean, Virginia with her husband, Charles Ing, and two daughters.