LONDON, September 8th, 2009 — Lockheed Martin [NYSE: LMT] and Danish aerospace and defense company Terma A/S today announced that they have signed a Memorandum of Understanding to explore opportunities associated with the potential sale of the U.S. Navy’s MH-60R multimission helicopter to the Danish Government.

The agreement, announced at the Defence Systems & Equipment International exhibition, follows the Danish Government’s June 2009 authorization to procure new ship-based helicopters to support Royal Danish Navy vessels operating in the North Atlantic and internationally. The U.S. Navy’s MH-60R multimission helicopter is a candidate solution for these maritime operations.

“Lockheed Martin and Terma will combine our complementary experience and skills sets should the Danish Government procure the U.S. Navy’s most advanced maritime helicopter,” said Marillyn Hewson, president of Lockheed Martin Systems Integration in Owego, NY. “Together, we can offer the Danish Armed Forces high quality technological and support services required to ensure mission and flight readiness of the MH-60R across the 30-year life of the aircraft.”

“Lockheed Martin and Terma share a long and beneficial history of working together in a close partnership, which includes the F-16, C-130 and F-35 programs,” said Terma President and CEO Jens Maaløe. “We are therefore very happy and proud, that today with this MOU we extend this cooperation to also include Lockheed Martin Systems Integration – Owego. We very much look forward to combining both companies’ core capabilities on the Danish Maritime Helicopter program, and to investigating a number of other exciting business opportunities.”

Lockheed Martin Systems Integration – Owego is the rotary wing center of excellence for Lockheed Martin Corporation. The company has more than 35 years of experience as a leading mission systems integrator of maritime helicopters, including the British Royal Navy’s Merlin Mk 1 helicopter fleet, and two generations of U.S. Navy helicopters, the SH-60B and the MH-60R.

The MH-60R airframe is designed and built by Sikorsky Aircraft Corporation, with mission systems integration by Lockheed Martin. To date, the two companies have delivered 36 MH-60R aircraft to the U.S. Navy. In July, 2009, a U.S. Navy squadron of 11 MH-60R aircraft completed its first at-sea deployment during six months in the western Pacific with the USS John C. Stennis carrier strike group.

The U.S. Navy has established four of ten planned MH-60R squadrons, and intends to purchase 300 MH-60R aircraft over the next decade. Production plans include capacity for concurrent international sales.

The MH-60R replaces the U.S. Navy’s current fleet of SH-60B and SH-60F helicopters as part of the U.S. Navy’s strategy to reduce different type, model and series maritime helicopters with multi-mission platforms. The MH-60R can perform a wide range of missions from its primary missions of anti-submarine and surface warfare to secondary missions such as search and rescue, vertical replenishment, naval surface fire support, medical evacuation and communications and data relay.

Headquartered in Lystrup, Denmark, Terma is a leading defense, aerospace, and security company. Its business activities include products and systems for a number of non-defense and defense applications, including command and control systems, radar systems, electronic warfare systems, space technology, and aeronautic structures for high-performance military aircraft. The company realized 2008/09 sales of approximately USD 200 million and employs approximately 1,300 people worldwide.

Source: Lockheed Martin