LOS ANGELES, Feb. 12, 2003 (PRIMEZONE) -- Northrop Grumman Corporation (NYSE:NOC) will hold an Institutional Investor Conference in New York City Thursday, Feb. 13. The conference will begin at 8 a.m. EST and will be webcast on the Investor Relations page of the company's Web site at www.northropgrumman.com .

Presentations will be made by Kent Kresa, Northrop Grumman chairman and chief executive officer; Ronald D. Sugar, president and chief operating officer; Richard B. Waugh, chief financial officer; Robert Helm, vice president, Government Relations; and presidents of the company's seven operating sectors.

The company will provide the following guidance at the conference:

  Revenue:

 -- 2003 sales between $25 billion and $26 billion
 -- 2004 sales between $28 billion and $29 billion
 -- 2005 sales between $30 billion and $32 billion

 Earnings Per Share:

 -- 2003 GAAP EPS between $4.00 and $4.50

 Segment Operating Margin:

 -- 2003 mid-7 percent range
 -- 2004 mid-7 percent range
 -- 2005 rate expansion

 Cash from Operations:

 -- $1.1 billion to $1.3 billion in 2003 before the B-2 tax payment
 -- $1.5 billion-plus in 2004
 -- Approximately $2 billion in 2005 and growing thereafter.
 

Additional revenue and margin rate detail will be provided for each of the company's sectors, which is intended to support the total company guidance provided above.

Northrop Grumman Corporation is a $25 billion global defense company, headquartered in Los Angeles, Calif. Northrop Grumman provides technologically advanced, innovative products, services and solutions in systems integration, defense electronics, information technology, advanced aircraft, shipbuilding and space technology. With approximately 120,000 employees and operations in all 50 states and 25 countries, Northrop Grumman serves U.S. and international military, government and commercial customers.

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  CONTACT:  Frank Moore (Media)
          (310) 201-3335

          Gaston Kent (Investors)
          (310) 201-3423