NEWPORT NEWS, Va., June 19, 1998 –Newport News Shipbuilding (NYSE: NNS) Chairman and CEO, Bill Fricks applauded the efforts of the many legislators who came together to help champion funding for the establishment of the Virginia Advanced Shipbuilding and Carrier Integration Center to be built in Newport News.

A ceremony was conducted today at the shipyard where Virginia Governor Jim Gilmore signed legislation approving the funding.

"This was truly a bipartisan and state-wide effort," said Fricks, of the statewide support received from both House and Senate members of Virginia’s General Assembly.

"We thank all of you for helping to establish Virginia as the national focal point for carrier research and development," added Fricks.

General Assembly members who helped support the establishment of the Virginia Advanced Shipbuilding and Carrier Integration Center include, from the Senate: Henry Maxwell, Newport News; Marty Williams, Newport News; Tommy Norment, Williamsburg; Stanley Walker, Norfolk; Ed Schrock, Virginia Beach; Ken Stolle, Virginia Beach; Yvonne Miller, Portsmouth; Henry Marsh, Richmond; Richard Holland, Windsor; Richard Saslaw, Fairfax County; Janet Howell, Fairfax County. Supporters from the House are Speaker Tom Moss, Norfolk; Alan Diamonstein, Newport News; Phil Hamilton, Newport News; JoAnne Davis, York County; Vince Behm, Hampton; Flora Crittenden, Newport News; Richard Cranwell, Roanoke; Terry Kilgore, Gate City; Jack Rust, Fairfax County and Frank Wagner, Virginia Beach.

The legislation provides $58 million over three years to build the facility and another $40 million to begin its operation. Newport News Shipbuilding will build the facility for the Newport News Industrial Development Authority and will operate the center under the oversight of a board appointed by the Governor.

The Center, once in operation, will serve as the focal point for the integration of systems and the application of emerging technology onto future aircraft carriers.

Once in operation, the Center will be occupied by about 500 people from Newport News Shipbuilding, the Virginia shipbuilding industry, the U.S. Navy, Virginia universities and other high-tech companies. The Center, expected to be about 230,000 square feet, will be constructed in downtown Newport News on a site yet to be determined. The groundbreaking is expected by the end of the year with operations beginning by mid-2001.

Newport News Shipbuilding is America’s premier shipbuilding company with annual revenues of approximately $1.7 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.

Governor Jim Gilmore signs a bill approving funds for the Virginia Advanced Shipbuilding and Carrier Integration Center at a ceremony held at Newport News Shipbuilding on June 19, 1998. With him are NNS Chairman and CEO Bill Fricks and Virginia's Secretary for Commerce and Trade Barry DuVal.

Newport News Shipbuilding Chairman and CEO Bill Fricks welcomes people to the bill signing ceremony for the Virginia Advanced Shipbuilding and Carrier Integration Center conducted at Newport News Shipbuilding on June 19, 1998. Special guests included Virginia Governor Jim Gilmore who signed the bill, and Virginia's Secretary for Commerce and Trade Barry DuVal.

"The Virginia Advanced shipbuilding and Carrier Integration Center"
Pictured is an artistic rendering of the Virginia Advanced Shipbuilding and Carrier Integration Center. At today’s ceremony at Newport News Shipbuilding, Governor Jim Gilmore signed legislation that approves funding for the Center. The Center, which will be located in downtown Newport News in an as yet undetermined site, will be approximately 230,000 square feet. Groundbreaking for the building is anticipated by year-end.