FOR IMMEDIATE RELEASE

NEWPORT NEWS SHIPBUILDING AWARDED CONTRACT MODIFICATION FOR HARRY S. TRUMAN (CVN 75) UPGRADES

NEWPORT NEWS, Va., March 23, 1999 – Newport News Shipbuilding (NYSE:NNS) announced today that the U.S. Navy has awarded the company a $30 million addition to a contract for work on the nuclear-powered aircraft carrier Harry S. Truman (CVN 75). The ship arrived at Newport News on March 22, 1999.

The modification is for what is known as Post Shakedown Availability (PSA). Newly constructed ships such as Truman return to the shipyard six-to-eight months after delivery for modernization upgrades, repairs and maintenance work. During its five month PSA at Newport News, Truman will undergo a minimal amount of repairs and maintenance with most of the work focusing on technology insertion in the information technology and combat systems areas.

Built by NNS, Truman is the eighth Nimitz-class aircraft carrier and was commissioned by the U.S. Navy on July 25, 1998. It is homeported in Norfolk, Va. Newport News is currently building the ninth Nimitz-class carrier, Ronald Reagan (CVN 76), scheduled for delivery in 2002. The company is also doing design work, engineering and material procurement for the final Nimitz-class ship, CVN 77. Full construction authorization and funding is expected in the year 2000.

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