Lockheed Martin has been named the Corporation of the Year for its support of the Hispanic College Fund (HCF), a non-profit organization that provides scholarships and encouragement to some of the nation's brightest Hispanic business and technology students.

The HCF will salute the achievements of the students and present Lockheed Martin with its award at the 10th Anniversary Scholarship Awards Gala Wednesday night, Oct. 22, in Washington, D.C., which features First Lady Laura Bush as honorary chair. The Hispanic College Fund awarded $1,470,000 in scholarships to Hispanic students this year.

"We are pleased to recognize Lockheed Martin for demonstrating its unwavering support to the Hispanic community by providing funds for HCF scholarships and programs and engaging on a personal level as well," said J. Fernando Barrueta, president and chief of the Hispanic College Fund. "Lockheed Martin has been involved with us since 1997 and during that time has provided financial support to 79 Hispanic students for college education in science and engineering."

Vance D. Coffman, Lockheed Martin chairman and chief executive officer, said, "On behalf of all employees, I am honored to accept this award from an organization that is doing so much to inspire the scientists and engineers of the future. We are pleased to work with the Hispanic College Fund to further the interests of people and business, and we salute the students for their academic achievements."

The Hispanic College Fund is a private non-profit organization founded in 1993 to develop the next generation of Hispanic leaders in America by awarding scholarships to deserving Hispanic students. Visit the HCF's Web site at http://www.hispanicfund.org/ to learn more about the organization's activities.

Headquartered in Bethesda, Md., Lockheed Martin employs about 125,000 people worldwide and is principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. The corporation reported 2002 sales of $26.6 billion.

For additional information on Lockheed Martin Corporation, visit: http://www.lockheedmartin.com/

SOURCE: Lockheed Martin