Northrop Grumman Sets Special Meeting For Stockholders of Litton Industries Inc.

Apr 30, 2001, 01:00 ET from Northrop Grumman Corporation

    LOS ANGELES, April 30 /PRNewswire/ -- Northrop Grumman Corporation
 (NYSE:   NOC) announced today that it will hold a special meeting for
 stockholders of Litton Industries Inc. (NYSE:   LIT), at 9:00 a.m. P.D.T. on May
 30, 2001, to approve the amended merger agreement between the two companies.
 The meeting will be held at the offices of Gibson, Dunn & Crutcher LLP, at
 333 South Grand Avenue, Los Angeles.
     The merger will provide that each holder of outstanding shares of Litton
 common stock will receive $80 in cash per share.  Litton common and preferred
 stockholders of record at the close of business on May 3, 2001, will be
 entitled to vote at the special meeting or at any adjournment or postponement
 that may occur.
     Northrop Grumman currently owns approximately 95.4% of Litton's
 outstanding voting stock and will vote such shares to approve the merger.  No
 proxies are being solicited for the meeting.  An information statement will be
 mailed to Litton stockholders prior to the meeting.  Subsequent to the merger,
 they will receive written instructions explaining how to surrender stock
 certificates in exchange for the cash amount.
     Northrop Grumman Corporation is a $15 billion, global aerospace and
 defense company with its worldwide headquarters in Los Angeles.  Northrop
 Grumman provides technologically advanced, innovative products, services and
 solutions in defense and commercial electronics, systems integration,
 information technology and non-nuclear shipbuilding and systems.  With
 80,000 employees and operations in 44 states and 25 countries, Northrop
 Grumman serves U.S. and international military, government and commercial
 customers.
 
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SOURCE Northrop Grumman Corporation
    LOS ANGELES, April 30 /PRNewswire/ -- Northrop Grumman Corporation
 (NYSE:   NOC) announced today that it will hold a special meeting for
 stockholders of Litton Industries Inc. (NYSE:   LIT), at 9:00 a.m. P.D.T. on May
 30, 2001, to approve the amended merger agreement between the two companies.
 The meeting will be held at the offices of Gibson, Dunn & Crutcher LLP, at
 333 South Grand Avenue, Los Angeles.
     The merger will provide that each holder of outstanding shares of Litton
 common stock will receive $80 in cash per share.  Litton common and preferred
 stockholders of record at the close of business on May 3, 2001, will be
 entitled to vote at the special meeting or at any adjournment or postponement
 that may occur.
     Northrop Grumman currently owns approximately 95.4% of Litton's
 outstanding voting stock and will vote such shares to approve the merger.  No
 proxies are being solicited for the meeting.  An information statement will be
 mailed to Litton stockholders prior to the meeting.  Subsequent to the merger,
 they will receive written instructions explaining how to surrender stock
 certificates in exchange for the cash amount.
     Northrop Grumman Corporation is a $15 billion, global aerospace and
 defense company with its worldwide headquarters in Los Angeles.  Northrop
 Grumman provides technologically advanced, innovative products, services and
 solutions in defense and commercial electronics, systems integration,
 information technology and non-nuclear shipbuilding and systems.  With
 80,000 employees and operations in 44 states and 25 countries, Northrop
 Grumman serves U.S. and international military, government and commercial
 customers.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X88666404
 
 SOURCE  Northrop Grumman Corporation