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FUTURE AIRCRAFT CARRIER FUNDING - This artist's rendering shows the first new generation carrier, CVN 21. Northrop Grumman Corporation's Newport News sector has received a $107.6 million contract to continue pre-system development and design for CVN 21.

NEWPORT NEWS, Va. -- July 10, 2003 -- The U.S. Navy has awarded Northrop Grumman Corporation (NYSE: NOC) a contract to support the future aircraft carrier program, CVN 21. Northrop Grumman's Newport News sector is the prime contractor for the award.

The $107.6 million contract allows the company to continue pre-system development and design efforts for CVN 21. Work performed under the contract includes research and design development efforts as well as pre-system development and design in support of ship construction with delivery planned for 2014. This contract is a modification to a previous contract, bringing the total value of the contract to $303.5 million.

Construction on the first new generation carrier is slated to begin in 2007. Innovations for the next-generation aircraft carrier include an enhanced flight deck with increased sortie rates, improved weapons movement, a redesigned island, a new nuclear power plant, allowance for future technologies and reduced manning.

Northrop Grumman Newport News, headquartered in Newport News, Va., is the nation's sole designer, builder, and refueler of nuclear-powered aircraft carriers and one of only two companies capable of designing and building nuclear-powered submarines. Newport News also provides after-market services for a wide array of naval and commercial vessels. The Newport News sector employs about 18,000 people.

Contact: Jennifer Dunn
(757) 380-3558
Jennifer.Dunn@ngc.com