NEWPORT NEWS, Va., August 7, 1998 – Newport News Shipbuilding (NYSE: NNS) announced that Joe Fernandes has joined the company as Director, Investor Relations.

He will be responsible for communications with investors and stock market analysts as well as the development of the company’s quarterly and annual reports.

Fernandes has extensive experience in corporate finance, treasury and investment analysis. Before joining Newport News he was Treasurer for Blessings Corporation, a publicly-held manufacturer of plastic films, based in Newport News, Va. He had previously served as Vice President and Senior Relationship Banker for First Fidelity Bank in Edison, N. J. He is a graduate of Dartmouth College in Hanover, N. H.

Fernandes reports to Newport News Shipbuilding’s Senior Vice President and Chief Financial Officer David J. Anderson, who said, "We are extremely pleased to have Joe join us to head up the investor relations function. His broad financial experience will help in shaping our communications to shareholders and analysts."

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.