Northrop Grumman Extends Tender Offer For Litton Industries

Northrop Grumman Corporation has extended its pending tender offer for the common and preferred stock of Litton Industries from March 15, 2001, to March 22, 2001.

The existing tender offer for all outstanding Litton stock, as previously announced, will be extended in increments of five business days or less until the Hart-Scott-Rodino and European Union waiting periods have expired as provided in Northrop Grumman's agreement with Litton. Northrop Grumman said it expects to further extend the tender offer to March 23, 2001, for an additional one or more business days.

At the close of business on March 15, 2001, approximately 41,859,700 shares of Litton Industries common and Series B preferred stock had been validly tendered and not withdrawn. According to Litton, there were 51,292,796 shares outstanding and reserved for issuance under its employee stock option, restricted stock or deferred stock plans as of Nov. 30, 2000.