The Lockheed Martin Corporation board of directors has elected Robert J. Stevens as Chairman of the Board, effective today.

This action follows an announcement on Nov. 23, 2004 regarding Vance Coffman's intent to retire as Chairman of the Board after 37 years with the company, including seven years as CEO.

Stevens assumes his new duties as Chairman of the Board, while retaining his position as President and CEO.

Headquartered in Bethesda, Md., Lockheed Martin employs about 130,000 people worldwide and is principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. The corporation reported 2004 sales of $35.5 billion.

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                      http://www.lockheedmartin.com/

  Editor's Note:
  Robert Stevens' full biography -
  http://www.lockheedmartin.com/stevens

  Robert Stevens' high-res photo -
  http://www.lockheedmartin.com/data/assets/3410.jpg

SOURCE: Lockheed Martin