Lockheed Martin's Brian Dailey to Retire

Lockheed Martin's Brian Dailey to Retire

Dahlberg Named Successor

BETHESDA, Md., October 24th, 2008 -- Lockheed Martin Corporation (NYSE: LMT) today announced that Brian D. Dailey, 57, Senior Vice President, Washington Operations, plans to retire on April 1, 2009. Gregory R. Dahlberg, 57, currently vice president of corporate legislative affairs, will succeed Dailey effective Jan. 1, 2009. To ensure a smooth transition, Dailey will remain in a supporting role until his retirement date.

“With great appreciation for Brian’s service and contributions to Lockheed Martin, I am announcing the retirement of one of our most senior executives,” said Chairman, President and CEO Bob Stevens. “Brian has contributed immeasurably to the success of Lockheed Martin and has earned our deepest respect and admiration. Greg Dahlberg is an outstanding successor to build on the strong foundation Brian has laid for the corporation’s Washington Operations,” Stevens added.

Dahlberg joined Lockheed Martin’s Washington Operations staff in March 2003. Previously, he served as minority staff director of the House Appropriations Committee’s Defense Subcommittee. Prior to that position, he served as Under Secretary of the Army and was Acting Secretary of the Army during the early months of the George W. Bush administration. He began his career as a program analyst for the Transportation Department and later served on the House Transportation Subcommittee and the full committee staff of the House Appropriations Committee. He moved to the Defense Subcommittee in 1995.

Dailey was instrumental in the formative years of Lockheed Martin, instituting strategic and long-range planning processes that guide the Corporation today. Since assuming his current position in 1999, he has served as the Corporation’s principal liaison with government customers in the Executive and Legislative branches.

Previously, Dailey has served the Corporation as Chief Operating Officer of Lockheed Martin Global Telecommunications; Corporate Vice President, Strategic Development; and Vice President, Business Development for the former Space & Strategic Missiles Sector. Dailey joined the Lockheed Corporation from the White House where he was Executive Secretary of the National Space Council. Prior to that, he served as senior professional staff member on the Senate Armed Services Committee. He also held a professorship at the U.S. Naval Postgraduate School in the Department of National Security Affairs. Dailey is a graduate of the University of Southern California where he earned a Ph.D. in International Relations.

“While I recognize that Brian has planned to retire for some time, I’ll miss his wise counsel and strong support. I know he plans to return to his passion – the arts – and I wish him much success and happiness in the years ahead,” said Stevens.

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