Lockheed Martin Corporation has entered into a definitive agreement to acquire Aculight Corporation based in Bothell, WA. Aculight is a privately held company primarily focused on providing laser-based solutions for national defense and aerospace customers. The new business unit will report to Lockheed Martin's Maritime Systems & Sensors business in Akron, OH. The companies are not disclosing terms of the transaction.

"This transaction is consistent with Lockheed Martin's focus on acquiring companies with strategic capabilities that strengthen our core offerings and create potential for adjacent market expansion," said Chris Kubasik, Executive Vice President of Lockheed Martin's Electronic Systems business area. "Aculight's expertise in countermeasures, laser radar, and high power directed energy will be of tangible benefit to Lockheed Martin's customers in areas such as guided munitions, airborne self-protection and advanced sensors."

"Aculight's focus is to be a leader in providing high quality, innovative and cost-effective laser system solutions for our customers," said Don Rich, Chief Executive Officer of Aculight. "Becoming a part of Lockheed Martin will provide us with additional reach and resources to help achieve these goals. We are looking forward to becoming part of the Lockheed Martin team."

The transaction is subject to Aculight shareholder approval and satisfaction of other closing conditions. It is expected that the transaction will close in the third quarter of 2008. Founded in 1993, Aculight has approximately 90 employees.

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.

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LOCKHEED MARTIN Safe Harbor Statement / Forward-Looking Statements: Some of the statements contained in this press release are considered "forward-looking statements" under the federal securities laws. Forward- looking statements include, but are not limited to statements regarding: the expected closing date of the transaction; the expected strengthening of our core offerings and potential for adjacent market expansion; and expected tangible benefits to Lockheed Martin's customers and expected additional reach and resources to help achieve the company's goals. These forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Potential risks and uncertainties include, but are not limited to: (a) the risk that the transaction may close more slowly than expected or not at all; (b) the risk that the expected benefits of the transaction may not be fully realized, and (c) other risks and uncertainties detailed from time to time in Lockheed Martin's filings with the Securities and Exchange Commission. All information in this release is as of July 28, 2008. Lockheed Martin disclaims any duty to update forward-looking statements to reflect subsequent events, actual results or changes in expectations.

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SOURCE: Lockheed Martin Corporation