Gerald J. St. Pe Elected Litton Executive VicePresident and Chief Operating Officer of Newly...

WOODLAND HILLS, Calif.--(BUSINESS WIRE)--July 6, 1999--

The board of directors of Litton Industries Inc. (NYSE:LIT) has elected Gerald J. ("Jerry") St. Pe executive vice president of Litton Industries and chief operating officer of Litton Ship Systems, a newly formed business organization.

Litton Ship Systems is composed of the corporation's shipbuilding operations, which includes Litton Ingalls Shipbuilding located in Pascagoula, Miss., and will include Avondale Industries located in New Orleans, La., currently being acquired by Litton. Prior to this appointment, St. Pe was Litton senior vice president and president of Litton Ingalls.

"We are committed to positioning Litton for growth in the shipbuilding market and enhancing our reputation as a world-class shipbuilder. To ensure our success, we have formed Litton Ship Systems and selected Jerry St. Pe to head it," said Michael R. Brown, Litton chairman, president and chief executive officer.

"Jerry St. Pe is a recognized and well-respected leader in the shipbuilding industry, and the obvious choice to lead Litton's expanding shipbuilding business."

As previously announced, Litton has signed a definitive agreement with Avondale Industries Inc. of New Orleans to acquire the ship builder.

Today, Litton announced that the Federal Trade Commission has granted early termination of the pre-merger waiting period under the Hart-Scott-Rodino Act, related to Litton's acquisition of Avondale. To complete the merger, a special meeting of Avondale shareholders has been scheduled for July 27, 1999. The transaction is anticipated to close shortly afterwards.

"Jerry St. Pe has solidified our shipbuilding division's position as the nation's most efficient and profitable shipbuilding operation. We look forward to Jerry's continued leadership as Litton Ship Systems grows through internal measures as well as through acquisitions such as Avondale Industries," Brown said.

A native of New Orleans, St. Pe joined Litton Ingalls in 1961 in the company's public relations department. In 1971, he was appointed division director of public relations, and in 1975 he was named division vice president for industrial and public relations. In 1985, St. Pe was promoted to division president and elected a corporate vice president. He was elected a senior vice president of Litton Industries in 1986.

St. Pe currently serves as chairman of the American Shipbuilding Association, an organization composed of the country's largest shipyards, and he is a member of the American Society of Naval Engineers.

"I look forward to working with Al Bossier, president of Avondale, and the entire Avondale team, in achieving the goals and visions of the new Litton Ship Systems organization," said St. Pe, Litton executive vice president and chief operating officer of Litton Ship Systems. "Ingalls and Avondale, and other future elements of Litton Ship Systems will truly create a world-class team," St. Pe said.

Litton Ship Systems will be capable of producing any class of nonnuclear ship for military or commercial customers, and will have combined annual sales of approximately $1.8 billion and about 17,000 employees.

Litton is a leader in worldwide technology markets for advanced electronic, defense and information systems, and is a major designer and builder of surface combatant ships for the U.S. Navy and allied nations.