FALLS CHURCH, Va. – May 20, 2015 – The board of directors of Northrop Grumman Corporation (NYSE:NOC) declared a quarterly dividend of $0.80 per share on Northrop Grumman common stock, a 14 percent increase from the prior quarterly dividend of $0.70 per share. This is the 12th consecutive annual increase in Northrop Grumman's common stock dividend. The dividend is payable June 17, 2015, to shareholders of record as of the close of business June 1, 2015.

"We continue to execute a capital deployment strategy that calls for returning cash to shareholders through a competitive dividend and share repurchases. Today's 14 percent dividend increase supports that approach. We are on track to complete our 60 million share repurchase goal this year, market conditions permitting. Returning cash to shareholders continues to be a core element of our value creation strategy," said Wes Bush, chairman, chief executive officer and president.

Northrop Grumman is a leading global security company providing innovative systems, products and solutions in unmanned systems, cyber, C4ISR, and logistics and modernization to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.

Note: Statements in this press release, other than statements of historical fact, constitute "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "expect," "intend," "plan," "believe," "estimate," "guidance," "goal," and similar expressions generally identify these forward-looking statements. These forward-looking statements speak only as of the date when made, and the Company undertakes no obligation to update or revise any forward-looking statements after the date of the subject presentation. Forward-looking statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. Actual results may differ materially from those described or implied in these statements based on a number of factors, including global economic conditions, economic conditions in our industry, government fiscal and budget policies, changes in interest rates and other market conditions. A discussion of these risks and uncertainties is contained in the Company's filings with the Securities and Exchange Commission.

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         Steve Movius (Investors)