ATHENS, GREECE, 31-JUL-00 -- INTRACOM has signed a contract worth US$8 million with the American company Lockheed Martin Naval Electronics and Surveillance Systems-Radar Systems (NE&SS-Radar Systems) for the supply to the Hellenic Merchant Marine Ministry of the first phase of a National Vessel Traffic Management Information System (VTMIS). NE&SS-Radar Systems is the major subcontractor of the project led by INTRACOM. The VTMIS will be based in Piraeus and will cover areas of the Ionian and Aegean Sea.

NE&SS-Radar Systems President Mike Smith said that INTRACOM was selected after a tough international competition between major European suppliers. Our strategic teaming with INTRACOM, Mr. Smith added, offered an excellent combination of in-country technology leveraged with U.S. and international VTMIS experience. He concluded, The Greek government selected our team based on our reputation and technology to provide safe navigation for one of the major maritime nations in the world.

INTRACOM, as the project's prime contractor, has the responsibility of providing the telecommunication and computing hardware, as well as installing the necessary VTMIS technology equipment supplied by Lockheed Martin. This first phase of the project calls for a total of ten coastal marine radar systems, four regional Vessel Traffic Services (VTS) centers and one national VTMIS center, which will be installed in Piraeus. Future phases of the project are expected to cover all major Greek waterways.

Since 1995, Lockheed Martin has become the world leader in VTMIS and other marine traffic management systems. Lockheed Martin VTMIS is used by the United States Coast Guard, as well as by the governments of 14 other countries all over the world.

A leader in the design, development and integration of radar systems, vessel traffic management; fast jet simulation and training systems, and other complex electronic systems, Lockheed Martin Naval Electronics & Surveillance Systems-Radar Systems serves customers including all branches of the U.S. armed forces, the U.S. Coast Guard, the U.S. Departments of Commerce, Transportation and State, and defense and transportation departments of countries on six continents.

NE&SS-Radar Systems is a unit of Lockheed Martin Corporation and has its headquarters in the city of Syracuse in New York State, where it employs approximately 2,000 people. Lockheed Martin is a global enterprise, based in Bethesda, Maryland, principally engaged in the research, design, development manufacture and integration of advanced technology systems, products and services.

Founded in 1977, INTRACOM is the largest manufacturer of telecommunication equipment and information systems in Greece. In 1990, the company was listed on the Athens Stock Exchange and, by accelerating growth, established a strategic position within the European market. In cooperation with its subsidiaries and affiliates, the company provides products and services to the Greek public and private sectors, while developing significant international presence.

INTRACOM provides products as well as integrated services for the design, manufacturing, turn-key project implementation and support in the following areas: Public Telecommunication Networks, Telecommunication Systems Software, Integrated Business Networks, Network Management Systems, Energy Management Systems, Satellite Applications, Defense Systems, Integrated Wagering Networks.

Investing systematically in Research and Development, INTRACOM has created modern high technology research laboratories for the development of new products. The company participates in numerous European Research Programs for cutting-edge technology. INTRACOM is the first Greek company certified with the ISO 9001, AQAP 110 and AQAP 150 international standards.

INTRACOM employs 2,300 highly specialized professionals, while the INTRACOM Group of companies numbers more than 4,200 employees. The company's facilities cover 55,000 square meters and will exceed 70,0000 square meters within the coming year.