NEWPORT NEWS SHIPBUILDING AWARDED $72 MILLION FOR SUBMARINE WORK

April 22, 1997, NEWPORT NEWS, Va. -- Newport News Shipbuilding has been awarded a U.S. Navy contract for Los Angeles-class submarine planning yard work and Seawolf-class submarine design and planning yard work. The award, valued at approximately $72 million, includes a base-year contract with four one-year options. The base year contract ends September 1997 with the first-year option expected to begin in October 1997.

Seawolf-class design and planning yard work includes on-site engineering and design support for Seawolf, maintenance planning and equipment drawings. The Los Angeles-class (SSN 688) planning yard efforts include coverage for all SSN 688 ships and any other SSN/SSBN submarines such as SSN 637-class vessels. This work includes development of ship alterations and logistics support. As the lead design yard for both the Seawolf and Los Angeles-class of submarines, Newport News Shipbuilding maintains the submarines= forward-end design and provides design enhancements for such things as the ship=s control system integration and weapons launch capabilities.

Newport News Shipbuilding has built nuclear submarines for nearly 40 years. It built 29 Los Angeles-class submarines and recently signed a teaming agreement with General Dynamics= Electric Boat Corporation to co-produce the New Attack Submarine (NSSN). Newport News Shipbuilding is America's largest ship design and construction company. It has produced approximately 800 ships during its 111 years of operations - including Navy aircraft carriers, submarines, and cruisers. The company is currently building the nuclear-powered aircraft carriers Harry S. Truman (CVN 75) and Ronald Reagan (CVN 76) and has begun work in preparation for construction of the Navy's New Attack Submarine. It is also building nine Double Eagle Product tankers. Its 1996 revenues totaled $1.87 billion, with earnings before interest and taxes of $140 million. The current backlog is approximately $3.3 billion. The workforce numbers 18,000, making it Virginia's largest private employer.