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Technology Stocks : LOCKHEED MARTIN, (LMT)

LMT 484.98

-0.6%

Nov 4 3:59 PM EST

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To: Shawn M. Downey who wrote ()	1/17/2000 8:55:00 AM
From: Shawn M. Downey	of 732

Lockheed: Israel buying 50 jets FORT WORTH, Texas (AP) - Lockheed Martin said Friday it received a contract to produce 50 F-16 fighter jets for Israel in a deal valued at about $2.5 billion. Delivery of the jets will start in early 2003 and continue for about three years, the company said. The contract awarded by the U.S. Department of Defense completed negotiations that began after Israel in July selected the F-16 as its new fighter. The sale has created controversy in the Middle East, where Israel and Syria remain far apart on negotiating a peace agreement. Syria has said it will increase its army in response to the aircraft deal. Israel also received an option to buy 60 additional F-16s, which would bring the total value of the deal to Lockheed Martin and its subcontractors to $4.5 billion, the company said.

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