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Non-Tech : TITAN CORP.

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To: luis a. garcia who started this subject	9/24/2003 11:40:09 AM
From: Paul Lee	Read Replies (1) of 1080

Among other terms, the merger agreement provides that the exchange rate for shareholders who receive stock will be determined by dividing $22 by the average of the daily high and low sales prices per share of Lockheed Martin common stock on the NYSE composite transaction tape for the 10 trading days preceding the third trading day prior to the effective date of the merger, subject to specified collars. If the average price exceeds $58 (the "Upper Collar"), then the exchange rate will be calculated using the Upper Collar instead of the average price. If average price is less than $46 (the "Lower Collar"), then the exchange rate will be calculated using the Lower Collar instead of the average price.

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