LOS ANGELES -- Aug. 17, 2004 -- Northrop Grumman (NYSE: NOC) today announced that it has approved the redemption on Oct. 15, 2004 of all of its subsidiary Northrop Grumman Systems Corporation's outstanding $250 million 9.375% Debentures due 2024. The redemption price will be 104.363% of the principal amount plus accrued and unpaid interest through the Oct. 15, 2004 redemption date. In accordance with the terms of the indenture under which the debentures were issued, the debentures will be redeemed in full on the redemption date.

A notice of redemption will be mailed to all registered holders by J.P. Morgan Trust Company, National Association, as trustee for the Debentures. In order to receive the redemption price, holders of debentures represented by certificates must deliver their debentures to J.P. Morgan Trust Company, National Association.

Copies of the notice of redemption and additional information relating to the procedure for redemption may be obtained from J.P. Morgan Trust Company by calling (800) 648-8380.

Northrop Grumman Corporation is a 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 125,000 employees, and operations in all 50 states and 25 countries, Northrop Grumman serves U.S. and international military, government and commercial customers.

Frank Moore (Media) (310) 201-3335
Gaston Kent (Investors) (310) 201-3423