Lockheed Martin Issues Correction to Dividend and Share Repurchase Press Release from September 22, 2005

BETHESDA, MD, 23-SEP-05 --

In a press release yesterday, Lockheed Martin Corporation [NYSE: LMT] announced that its Board of Directors has authorized a dividend increase of 20 percent and the repurchase of up to an additional 45 million shares of the company’s common stock. The press release incorrectly stated that, “Through June 30, 2005, Lockheed Martin had repurchased 34 million shares under the existing 43 million share authorization. It should have stated that, “Through June 30, 2005, Lockheed Martin had repurchased 32 million shares under the existing 43 million share authorization.”

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Tom Jurkowsky, Vice President, Media Relations, (301) 897-6352
Tom Greer, Manager, Media Relations, (301) 897-6195

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Jim Ryan, Vice President, Investor Relations, (301) 897-6584
Mike Gabaly, Director, Investor Relations, (301) 897-6455