Corporate Policy Council News

Northrop Grumman Corporation’s (NYSE: NOC) board of directors has elected Stephen D. Yslas, 61, corporate vice president and general counsel effective Jan. 1, 2009. Yslas succeeds W. Burks Terry who is retiring Dec. 31, 2008. In his new role, Yslas will be responsible for oversight of all of the company's legal matters. He will report to Ronald D. Sugar, the company's chairman and chief executive officer, and become a member of the company's Corporate Policy Council. The board also elected Joseph F.

Northrop Grumman Corporation announced a strategic realignment of several of its operating sectors to enhance the company's support to its customers, better utilize its capabilities and resources and drive operating improvements. The company stated that its two shipbuilding sectors, Newport News and Ship Systems, will be realigned into a single sector called Northrop Grumman Shipbuilding, effective Jan. 28, 2008. In addition, the company is realigning the reporting of its missiles business from its Mission Systems sector to its Space Technology sector, effective July 1, 2008. With this new reporting structure, Mission Systems will focus on the rapidly growing C4ISR business, and the missiles business will be an integrated element of the company's Aerospace business growth strategy.

Northrop Grumman Corporation and Newport News Shipbuilding Inc. announced today that they have signed a definitive agreement under which Northrop Grumman will acquire Newport News Shipbuilding. The boards of directors of both companies approved the terms of the transaction in which Northrop Grumman will acquire all the outstanding shares of Newport News. $67.50, subject to certain limitations and proration procedures. Northrop Grumman expects to promptly amend its existing offer documents in order to reflect the merger agreement. Shipbuilding shareholders will have the same right to elect to receive cash or shares of Northrop Grumman stock as described above. Kent Kresa, Northrop Grumman chairman and chief executive officer.

Northrop Grumman Corporation announced today the completion of its tender offer for all of the outstanding shares of Newport News Shipbuilding Inc., creating the world's largest naval shipbuilder. E.S.T. on November 29, 2001. exchange. The exchange agent for the offer has advised Northrop Grumman that a total of approximately 26,469,213 shares were tendered in the offer, including approximately 14,503,155 delivered through notice of guaranteed delivery. common stock. "Northrop Grumman is now a world-class, fully capable shipbuilding company with expertise in every class of nuclear and non-nuclear vessel," said Kent Kresa, Northrop Grumman's chairman and chief executive officer.

Northrop Grumman Corporation board of directors has elected Albert F. corporate vice president, strategy and technology. Ronald D. executive officer effective April 1, 2003. The board also elected James L. president and treasurer. president of contracts and pricing. report to Richard B. officer. Both appointments are effective April 1, 2003. and individual sectors. member of the company's Corporate Policy Council. and savings investments, and trust management. for execution of the company's merger and acquisition endeavors.