NEWPORT NEWS SHIPBUILDING AWARDED ENGINEERING CONTRACT FOR THE SEAWOLF-CLASS SUBMARINE

NEWPORT NEWS, VA, November 24, 1998 – Newport News Shipbuilding (NYSE: NNS) announced today that it has been awarded a $35 million contract for design support, engineering and technical services for the Seawolf-class submarine. Work will be performed at Newport News.

Examples of work performed under this contract include developing required changes to system designs and providing lifecycle engineering services.

Newport News Shipbuilding performed the lead design work for the Seawolf-class of submarines and is the planning yard for the ships once they are in operation. The company is also teamed with General Dynamics to build the new Virginia-class attack submarines for the U. S. Navy.

Newport News Shipbuilding designs and constructs nuclear powered aircraft carriers and submarines for the U.S. Navy and provides life-cycle maintenance services for ships in the Navy fleet. The company employs 18,000 people and has annual revenues of approximately $1.8 billion.