LOS ANGELES, March 28, 2003 -- Northrop Grumman Corporation (NYSE:NOC) announced today that it has agreed to guarantee the payment of all currently outstanding debt securities of its wholly-owned subsidiary, Northrop Grumman Space & Mission Systems Corp. (formerly TRW Inc.), issued pursuant to the Northrop Grumman Space & Mission Systems Corp. indenture dated as of May 1, 1986, as supplemented from time to time.
Previously, in connection with Northrop Grumman Space & Mission Systems Corp.'s offers to purchase certain of its outstanding debt securities dated March 11, 2003, Northrop Grumman announced that it would put in place such a guarantee by no later than March 31, 2003. Today's announcement confirms that Northrop Grumman has executed and delivered the guarantee and it is now in effect.
Northrop Grumman Corporation is a $25 billion global defense company, headquartered in Los Angeles, Calif. Northrop Grumman provides technologically advanced, innovative products, services and solutions in systems integration, defense electronics, information technology, advanced aircraft, shipbuilding and space technology. With approximately 120,000 employees and operations in all 50 states and 25 countries, Northrop Grumman serves U.S. and international military, government and commercial customers.