INDUSTRY

CHERRY HILL, N.J.,-- Lockheed Martin Corporation said today that the Department of Energy intends to extend for five-years the current management contract of the Sandia National Laboratories. The announcement was made today during a visit by DOE Secretary Spencer Abraham to Sandia. Following talks on contract terms, the new contract will take effect October 1, 2003 and be in place until September 30, 2008. Lockheed Martin's current contract began on October 1, 1993. "We are extremely proud that DOE has announced their intention to extend Lockheed Martin's contract to manage Sandia," said Lockheed Martin Technology Services Executive Vice President, Michael F. Camardo. "We are dedicated to supporting DOE's mission and remain committed to being a good corporate neighbor to the citizens of New Mexico." Camardo also serves as Chairman of the Sandia Corporation Board of Directors. Sandia National Laboratories, headquartered in Albuquerque, New Mexico, has more than 7,900 employees focusing on engineering sciences, materials and processes, pulsed power, microelectronics and photonics, and computational and information sciences, in support of unique mission requirements demanding science and engineering solutions. Sandia's four areas of responsibility include: -- Nuclear weapons -- ensuring the stockpile is safe, reliable and capable of supporting the nation's deterrence policy. -- Nonproliferation and materials control -- reducing the proliferation of weapons of mass destruction, the threat of nuclear accidents, and damage to the environment. -- Energy and critical infrastructure -- enhancing the surety of energy and other critical infrastructures. -- Emerging threats -- addressing new threats to national security.