NEWPORT NEWS SHIPBUILDING APPOINTS VP, AIRCRAFT CARRIERS AND VP, SURFACE SHIPS

NEWPORT NEWS, Va., -- December 11, 1997 – Newport News Shipbuilding (NYSE: NNS), America’s largest ship design and construction company, announced today the appointments of Mike Petters and Bob Gunter as vice presidents and corporate officers. The company named Petters as Vice President, Aircraft Carriers and Gunter as Vice President, Surface Ships.

Petters and Gunter have been with the company since 1987 and 1983, respectively.

"The appointments of Mike and Bob are reflective of the scope of their responsibilities for two very significant business segments of our company," said NNS Executive Vice President Tom Schievelbein. "They have already helped build the foundation for growth in their respective positions and now will be in key positions to affect the external acceptance and success of these strategies."

Petters, age 38, has served as the program Director, Aircraft Carriers since 1995. In his new position he will continue the responsibility for the overall management of this business, to include the construction of the aircraft carriers Harry S. Truman (CVN 75) and Ronald Reagan (CVN 76) and the refueling and overhaul of USS Nimitz (CVN 68) scheduled to arrive at the company in 1998. Petters also has responsibility for directing Newport News Shipbuilding’s efforts on future carriers (CVN 77 and CVX).

A graduate of the U.S. Naval Academy and a former Naval submarine officer, he joined NNS in the SSN 688 Class Submarine Construction Division where he led the installation of the improved performance main propulsion system onboard USS Charlotte (SSN 766). In 1992 he became the company’s Submarine Marketing Manager and later was designated as the NNS Industrial Base Technical Expert, successfully organizing and leading extensive briefings to members of Congress and their staffs concerning the authorization and appropriation of funding for CVN 76.

In 1993, Petters received his Master of Business Administration degree from the College of William & Mary in Williamsburg, Va.

Bob Gunter, age 41, has served as Director, Surface Ships since 1997 and has more than 14 years experience in Engineering, Marketing, Operations, Construction and Production Program Management. As Vice President, Surface Ships, he will continue responsibility for the management of the construction of the commercial Double Eagle tankers, commercial ship repair, U. S. Navy surface ship repair and overhauls and foreign military sales programs.

He began his career at NNS as an engineer in the Machinery Design department and later served in positions that included Program Manager for the Advanced Submarine, Engineering Manager for the Submarine New Design and Director for the FF-21 Program and Ship Repair Programs.

Gunter has a Bachelor of Science degree in Mechanical Engineering from the University of Maryland and a Master of Science degree in Systems Engineering from Virginia Polytechnic Institute.

Newport News Shipbuilding is America’s premier shipbuilding company with annual revenues of approximately $1.8 billion and 18,000 employees. The company is the leader in the design and construction of nuclear-powered aircraft carriers and submarines for the U.S. Navy and produces a variety of ships for domestic and international customers.