NEWPORT NEWS SHIPBUILDING BOARD OF DIRECTORS TO MEET

NEWPORT NEWS, Va., October 4, 2001 – Newport News Shipbuilding (NYSE: NNS) announced today that its Board of Directors will meet on Friday, October 5 to review the General Dynamics and Northrop Grumman offers in light of the increase in the Northrop Grumman stock price.  The company anticipates making an additional announcement late Friday afternoon.

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 17,800 people and has annual revenues of approximately $2 billion. Visit NNS on the Web at www.nns.com.

The Solicitation/Recommendation Statements, as amended, filed by Newport News Shipbuilding with the SEC with respect to the General Dynamics offer and the Northrop Grumman offer contain important information that should be read carefully before any decision is made with respect to the General Dynamics offer or the Northrop Grumman offer.  Investors and security holders may obtain a free copy of the Solicitation/Recommendation Statements and other documents filed by Newport News Shipbuilding with the SEC at www.sec.gov.  The Solicitation/Recommendation Statements and these other documents may also be obtained by contacting Newport News Shipbuilding Investor Relations at 757-688-6400.