LOCKHEED MARTIN CORPORATION ANNOUNCES THE PLANNED REDEMPTION OF ITS OUTSTANDING FLOATING RATE CONVERTIBLE DEBENTURES

LockheedF35

Bethesda, MD, June 26th, 2008 — Lockheed Martin Corporation (NYSE: LMT) today announced the planned redemption of all of the outstanding $1,000,000,000 in original aggregate principal amount of Floating Rate Convertible Senior Debentures due 2033 on August 15, 2008. Lockheed Martin will redeem the debentures at a redemption price equal to $1,000 per $1,000 in original principal amount of debentures.

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