Northrop Grumman/TRW Merger Proceeds to Next Stage

Northrop Grumman Corp and TRW Inc. have announced that they intend to complete their merger transaction on December 11, 2002.

Northrop Grumman believes that the Defense Department has recommended to the Justice Department that the deal should proceed, based on discussions between the two parties. The recommendation is subject to the execution of a consent decree ensuring fair and open competition relating to certain satellite technologies.

Northrop Grumman have received a copy of the draft of the consent decree from the Justice Department. They believe that an agreed version of the decree can be arrived at before December 11 shareholder vote.

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