MARION, MA, 04/04/2008 -- The Nulka Active Missile Decoy, for which Lockheed Martin [NYSE: LMT] provides the electronic payload, was recently honored as Australian Defence Magazine's Defence Project of the Year for 2007. The magazine's annual Defence Industry Awards recognize the nation's Defence Materiel Organization (DMO) and its suppliers for innovation and performance on major industry projects.

The Nulka Active Missile Decoy, produced by BAE Systems Australia, is a rocket-propelled active decoy designed to lure anti-ship missiles away from their intended targets. Lockheed Martin's Marion, MA, facility manufactures the sophisticated missile-seducing electronic payload for the system. Lockheed Martin is the primary supplier of such decoy payloads for the U.S. Navy.

Lockheed Martin and BAE Systems Australia have been partners on the Nulka program for more than 20 years. To date, approximately 700 Nulka decoys have been produced for the Australian, U.S. and Canadian navies for deployment on more than 100 surface combatants. An additional 50 U.S. Navy installations are planned in the near future.

During the Australian Defence Industry Awards, the Nulka program was honored in the magazine's Major Project category and recognized the DMO and its industry team for demonstrating innovation in planning, efficiency in execution, delivery of results, and overall project management approach.

Nulka decoys provide ships with a highly effective all-weather defense against anti-ship missiles, effectively luring them away from their target, said William Walsh, vice president and general manager of the Lockheed Martin facility in Marion. We are proud to deliver capability and program excellence that brings recognition and credit to our DMO customer, as well as a critical system to the Royal Australian, U.S., and Canadian navies.

Headquartered in Bethesda, MD, Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2007 sales of $41.9 billion.