Lockheed Martin announced it has established the Lockheed Martin Hurricane Katrina Employee Assistance Fund and has made an initial $1 million contribution. The contribution is based on the current needs assessment of employees who work at company operations along the Gulf Coast. The Corporation will continue to evaluate and identify ways in which it can help its employees and their communities. This contribution is in addition to one Lockheed Martin made earlier in the week to the American Red Cross Hurricane Katrina Relief Fund.

"The people of Lockheed Martin have always responded to tragedy as a family -- with compassion, generosity and resilience," according to Lockheed Martin Chairman, President and CEO, Robert J. Stevens. "This situation is no different. Together, we will help restore the lives and communities so devastated by this unprecedented event," Stevens added.

To help ease the stress and uncertainty during these difficult times, Lockheed Martin is taking steps to ensure that employees continue to receive their basic pay and benefits. Additionally, the Corporation will ensure that reservists and guardsmen who are called to active duty in support of the recovery effort receive their full pay and benefits.

One of the first actions the Corporation undertook in the aftermath of the storm was to establish a hotline for employees to call for assistance, staffed by employee volunteers. The response has been so overwhelming that the number of employee volunteers has been doubled, and the hours have been extended from 8:00 a.m. to 7:00 p.m. EDT, Monday through Friday. Additionally, the hotline will remain open through the Labor Day holiday weekend (Saturday, Sunday and Monday) from 10:00 a.m. to 5:00 p.m., and future weekends while the need continues. Employees are encouraged to call the hotline at 800-563-8442 to advise of their status.

Employees are encouraged to check http://www.lockheedmartin.com/ for the latest updates on facilities, how to contribute to the relief effort and other hurricane related news. They may also use this site to email their status, ask questions, or offer housing assistance to fellow employees.

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.

For additional information, visit our website: http://www.lockheedmartin.com/

SOURCE: Lockheed Martin Corporation