Lockheed Martin Corp. was recently inducted into the Billion Dollar Roundtable (BDR), which honors U.S. corporations that grant more than $1 billion in contracts annually to minority and women-owned businesses. Established in 2001, the mission of the BDR is to research, educate and promote best practices in supply chain diversity.

Lockheed Martin recognizes the value that diversity brings to the team, and is committed to supporting women and minority-owned businesses. The mission of the Lockheed Martin Supplier Diversity program is to identify and provide these businesses with opportunities as potential suppliers and subcontractors, and their successful efforts have earned numerous accolades.

"We've implemented several initiatives designed to develop the growth and competitive capabilities of minority and women-owned businesses, and it's very rewarding to have our efforts recognized," said Michael A. Bush, director of Lockheed Martin Supplier Diversity. "Lockheed Martin's unwavering commitment to maintain a proactive supplier diversity program grows stronger every day."

In 2003, the Lockheed Martin Supplier Diversity team hopes to exceed the 2002 achievement of over $1 billion in contracts. New internal and external outreach efforts include mentor programs, workshops and training for multicultural businesses, teleconferences with business units to raise employee awareness, and employee recognition programs and commendation of supplier diversity efforts.

The overall objective of the Lockheed Martin Supplier Diversity program is continuous improvement. "Never be comfortable with current levels of achievement because there's always room for progress," Bush said he reminds his team.

Headquartered in Bethesda, Maryland, 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 Corp.