updated 12/9/2010 2:15:21 AM ET 2010-12-09T07:15:21

NEWPORT NEWS, Va., Dec. 8, 2010 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) received a $323.6 million, cost plus incentive fee contract extension for continuation of work on the nuclear-powered aircraft carrier CVN 79.

Northrop Grumman Shipbuilding received a $323.6 million, cost plus incentive fee contract extension for continuation of work on the nuclear-powered aircraft carrier CVN 79. Work performed under this contract includes the continuation of ship design activities, procurement of long-lead-time materials to support construction and advanced construction work on select parts of the ship.




A photo accompanying this release is available at http://media.globenewswire.com/noc/mediagallery.html?pkgid=8395

The company's Shipbuilding sector in Newport News, Va. is the prime contractor. Work performed under this contract includes the continuation of ship design activities, procurement of long-lead-time materials to support construction and advanced construction work on select parts of the ship.

"We are eager to continue progress on CVN 79 and the entire Gerald R. Ford-class program," said Mike Shawcross, vice president, Gerald R. Ford-class engineering and CVN 79 construction. "This contract extension signifies the continued support of the Ford program by the Navy and the ship's importance to our country's armed forces."

CVN 79 is the second ship of the new Gerald R. Ford class and has not yet been named. The Ford class will continue the legacy of highly capable U.S. Navy nuclear-powered aircraft carrier ship platforms. Enhancements incorporated into the design include flight deck changes, improved weapons handling systems and a redesigned island, all resulting in increased aircraft sortie generation rates. It will also include new nuclear power plants, increased electrical power generation capacity, allowance for future technologies and reduced workload for the sailors, translating to a smaller crew size and reduced operating costs for the Navy.

Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.

CONTACT:  Lauren Green
          Northrop Grumman Shipbuilding
          (757) 380-3581
          Lauren.Green@ngc.com

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