LOS ANGELES, Oct. 23, 2001 (PRIMEZONE) -- Northrop Grumman Corporation (NYSE:NOC) said that the company is pleased with the Department of Defense's statement today which allows Northrop Grumman to go forward with its proposed acquisition of Newport News Shipbuilding (NYSE:NNS). The company further stated that it does not expect any issues with the Department of Justice on the closure of the acquisition and that it looks forward to a successful completion of this transaction in the near future.

Northrop Grumman Corporation is a $15 billion, global aerospace and defense company with its worldwide headquarters in Los Angeles. Northrop Grumman provides technologically advanced, innovative products, services and solutions in defense and commercial electronics, systems integration, information technology and non-nuclear shipbuilding and systems. With 80,000 employees and operations in 44 states and 25 countries, Northrop Grumman serves U.S. and international military, government and commercial customers.

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  CONTACT:  Northrop Grumman Corporation, Los Angeles
          Randy Belote
          (703) 875-8525
          Frank Moore
          (310) 201-3335