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European Commission Approves Northrop Grumman Acquisition of Litton Industries Inc.

LOS ANGELES, March 23, 2001 -- Northrop Grumman Corporation (NYSE:NOC) announced today that the European Commission has approved the company's pending acquisition of Litton Industries Inc. (NYSE:LIT).

On February 22, the company had provided the Commission with the necessary filings related to the Litton transaction. Northrop Grumman also said it remains optimistic that the Hart-Scott-Rodino review will conclude within the current review period, which expires at midnight E.S.T. on March 29, 2001.

Northrop Grumman Corporation, headquartered in Los Angeles, is a world-class, high technology company providing innovative solutions in systems integration, defense electronics and information technology for its U.S. and international military, government and commercial customers, as a prime contractor, principal subcontractor, team member or preferred supplier. The company had revenues of $7.6 billion in 2000 and has a workforce of approximately 39,000 employees.

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Northrop Grumman Corporation, Los Angeles
Jim Taft
(310) 201-3335