MOORESTOWN, NJ, 05/19/2008 -- Lockheed Martin [NYSE: LMT] and the U.S. Navy have successfully completed an extensive verification of the Aegis Weapon System computer program developed specifically for the Republic of Korea's KDX-III destroyer program.

The nine-day demonstration of the KDX-III Aegis Combat System included 10 events that evaluated all warfare areas – including anti-air warfare, anti-surface warfare and anti-submarine warfare -- and culminated in a jamming attempt exercise involving live aircraft. Representatives from the Korean Defense Acquisition Program Administration (DAPA) observed the events.

The demonstration coincides with the shipbuilding progress for Korea's first Aegis-equipped KDX-III destroyer, Sejong the Great, which is scheduled for delivery later this year.

KDX-III is the seventh class of Aegis-equipped warships, and Korea will be the fifth nation to field the Aegis Weapon System. All Aegis variants include country-specific systems to support unique mission areas.

The extensive testing completed in this demonstration highlights the disciplined systems engineering approach that is the backbone of Aegis, said Orlando Carvalho, vice president of Lockheed Martin's Surface/Sea-Based Missile Defense line of business. This systems engineering focus, combined with close teamwork and clear communications among the U.S. Navy, DAPA, Korean Navy, Hyundai Heavy Industries, Lockheed Martin and the KDX-III industrial partners, is the prime catalyst for the development, integration and testing successes leading to Sejong the Great's on-time entry to the fleet.

The KDX-III Aegis Combat System successfully interfaces 11 new systems from multiple international suppliers, including French, German, Korean, Norwegian, Spanish and Dutch companies.

The Aegis Weapon System includes the SPY-1 radar, the Navy's most advanced computer-controlled radar system. When paired with Lockheed Martin's MK 41 Vertical Launching System, it is capable of delivering missiles for every mission and threat environment in naval warfare. The Aegis Weapon System is currently deployed on 85 ships around the globe with more than 20 additional ships contracted or planned. In addition to the United States and Korea, Aegis is the weapon system of choice for Australia, Japan, Norway and Spain.

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.