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Northrop Grumman Announces Webcast of Fourth Quarter 2010 Financial Results Conference Call; Exploration of Strategic Alternatives for Shipbuilding Continues

LOS ANGELES Jan. 20, 2011 Wednesday, Feb. 9, 2011 10:30 a.m. ET

http://www.northropgrumman.com Wes Bush Jim Palmer

The company also announced that it continues to explore strategic alternatives for a potential separation of its Shipbuilding business.  While any final decision remains subject to board approval, the company currently believes a spin-off of Huntington Ingalls Industries, Inc. (HII), will be the most likely method for separating Shipbuilding from Northrop Grumman.  

In conjunction with a potential spin-off, HII has begun discussions with lenders and ratings agencies related to arranging financing.  HII expects it will also continue to file periodic amendments to its Form 10 filing with the U.S. Securities and Exchange Commission.  

www.northropgrumman.com

the United States

You should not put undue reliance on any forward-looking statements in this release. These forward-looking statements speak only as of the date of this release and we undertake no obligation to update forward-looking statements after we distribute this release.

SOURCE Northrop Grumman Corporation

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