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Technology Stocks : LOCKHEED MARTIN, (LMT)

LMT 484.98

-0.6%

3:59 PM EST

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To: carlos jeanpierre who wrote (560)	7/28/1999 10:14:00 PM
From: carlos jeanpierre	Read Replies (1) of 732

Funding for Meads Hamre in his meeting outlined to Bischoff steps the Pentagon is taking to get funding restored for the Medium Extended Air Defense System, or Meads, officials said. Lockheed Martin heads a team called Meads International in Orlando, Florida, that includes DASA and Alenia Marconi Systems of Italy. They beat a Raytheon Co.-team this year for a $250 million development contract that Lockheed claims has a potential $20 billion market by 2019. The program is threatened because the U.S. House approved a move by the House Appropriations Committee to cut the Pentagon's $48.5 million fiscal year 2000 funding request for Meads and terminate the program. ''To date, more than $100 million has been appropriated for Meads with little more accomplished than a seemingly endless series of studies,'' said the appropriations committee in its fiscal 2000 report. The U.S. Senate fully supports the program. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.

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