Northrop Grumman Amends and Extends Offer for Newport News Shipbuilding

Northrop Grumman Corporation amended its offer for all outstanding shares of common stock, including associated rights, of Newport News Shipbuilding Inc. pursuant to an amended Registration Statement on Form S-4 filed with the Securities and Exchange Commission. Northrop Grumman also announced that it had extended the expiration date of its offer from Nov. 19, 2001, to Nov. 29, 2001, at midnight E.S.T. Although the prior expiration date would not have occurred until Nov. 19, 2001, approximately 3,210,997 shares of Newport News Shipbuilding common stock had been tendered to Northrop Grumman as of 5:00 p.m. E.S.T. on Nov. 12, 2001.