Vought Aircraft Industries, Inc. Announces Corporate Executive Staff

DALLAS, OCT. 30, 2000 - Gordon Williams, President and Chief Executive Officer of Vought Aircraft Industries, Inc. has announced the executive staff for the corporation, which began operating July 24. Vought Aircraft is an independent company that designs and manufactures aircraft structures for U.S. and other prime manufacturers of commercial and military airplanes. Headquartered in Dallas, Texas, it has approximately 6,000 employees and operates assembly sites in Texas, California, Georgia and Florida. The company was created when Northrop Grumman Corporation (NYSE:NOC) sold its commercial aerostructures business to The Carlyle Group, a Washington, D.C., private equity firm.

Williams is an aerospace industry veteran, including 26 years with Martin Marietta Corporation managing missile site activation, space launch operations, production operations and program management. He held key leadership positions as President of the Aircraft Division of LTV Aerospace and Defense, President and Chief Executive Officer of the former Vought Aircraft Company and Corporate Vice President and General Manager of Northrop Grumman's Commercial Aircraft Division. Williams also serves on the Board of Directors for Vought Aircraft Industries, Inc. and is a Director of Lear Siegler Services, Inc. of Annapolis, Md., and Piedmont-Hawthorne Aviation Services of Winston-Salem, N.C.

Reporting to Williams are the following:

• William J. (Bill) McMillan, Corporate Executive Vice President and Chief Financial Officer. McMillan is also a Director of the Corporation. A 32-year veteran of financial management in the aerospace and defense industry, he previously was Vice President - Business Management for Northrop Grumman's Commercial Aircraft Division and, before that, was Senior Vice President and Chief Financial Officer for the former Vought Aircraft Company. He has a Bachelor of Business Administration degree from Southern Methodist University.

• Tom Risley, Corporate Senior Vice President and Chief Operating Officer. Risley has 32 years' experience in the aerospace industry, including senior management for all aspects of Boeing Commercial Programs for Northrop Grumman's Aerostructures business area. He joined LTV Aerospace and Defense in 1968 and subsequently was a Programs Administration and Control Manager on various military aircraft programs, including the B-2 stealth bomber program. He has a Bachelor of Business Administration degree in accounting from the University of Texas at Arlington.

• Margo Parker, Corporate Vice President and Chief Human Resources & Administration Officer. A Human Resources executive in the aerospace industry for 23 years, she previously was Sector Vice President, Human Resources and Administration for Northrop Grumman's Integrated Systems and Aerostructures Sector. She is also the former Vice President - Employee Relations and Communications at the corporate level for Northrop Grumman. She is a member of the Council of Human Resource Management and a certified member for the Senior Professional Human Resources. She is a board member and the past national president of CUE, an employee relations organization. She has a Bachelor of Science degree in public administration from the University of California, Los Angeles, and a Master's of Business Administration degree from Pepperdine University's Key Executive program.

• Vernon H. (Vern) Broomall, Corporate Vice President - Technology and Business Development. Broomall has been in the aerospace industry 23 years. Previously, he was Vice President and Integrated Product Team Leader for Commercial Programs of Northrop Grumman's Aerostructures business segment, where he was responsible for nacelle products and the Gulfstream V Wing Program. He is also a former vice president of Northrop Grumman's Commercial Aircraft Division. He joined The LTV Corporation in July 1990 as Director of Nacelles Business Development for the Aircraft Division. He received his Bachelor and Master's degrees in Aeronautical and Astronautical Engineering from Ohio State University in 1968. He also has a Master's Degree in Business Organization from that institution.

• W. Bruce White Jr., Corporate Vice President and General Counsel. He also serves as Secretary of the Corporation. He has extensive experience in the corporate legal arena, joining The LTV Corporation in 1981 as an attorney on the corporate staff. He was ultimately appointed General Counsel of Vought Aircraft Company. He formerly was chief counsel to Northrop Grumman's Commercial Aircraft Division and, subsequently, its Aerostructures Business Area. He is a cum laude graduate of Washington and Lee University with a Juris Doctor degree and has a Bachelor of Arts degree from the University of Virginia.

"This is a seasoned management team," Williams said. "We are committed to our success as a stand-alone corporation. Although we face stiff competition in the global marketplace, we will succeed by using the company's strengths to set Vought apart from the competition. This company is built on the tradition of excellence of our legacy companies - Vought, Northrop and Grumman - with a record of achievement in aerospace design, manufacture and technology innovation. I am confident this management team will build on that foundation."

About Vought

Vought Aircraft is one of the world's largest aerostructures subcontractors with estimated annual sales of more than $1 billion. The company builds structures for the Boeing 747, 757, 767, 777, doors for the 737 and the wing for the Gulfstream V ultra-long range business jet. The company also produces major components for the C-17 Globemaster III military transport jet, including the complex nacelle system, as well as nacelles and structures for a number of other military and commercial aircraft.