News Releases

Ingalls Shipbuilding Awarded $98.6 Million Advance Procurement Contract for Amphibious Transport Dock Ship LPD 27







PASCAGOULA, Miss., July 14, 2011 (GLOBE NEWSWIRE) -- The U.S. Navy awarded Huntington Ingalls Industries (NYSE:HII) a $98 million cost-plus-fixed-fee advance procurement contract modification for long-lead materials for LPD 27, the 11th amphibious transport dock ship of the USS San Antonio (LPD 17) class.

The work, which will be conducted by the Ingalls Shipbuilding division in Pascagoula, will include the purchase of long-lead-time materials and major equipment in support of the new ship, such as main engines and diesel generators and other equipment, including electrical switchboards, deck equipment and fire extinguishing systems.

This is the second advance procurement contract for LPD 27. The first contract was awarded in October 2010.

"This contract provides means to continue our development and efficient planning to build LPD 27," said Doug Lounsberry, vice president and program manager of the LPD program, Ingalls Shipbuilding. "It is necessary for our supply chain management so the essential equipment will be aligned and ready to effectively meet our schedule commitments with our Navy customer."

The 11 ships of the LPD 17 class are a key element of the Navy's ability to project power ashore. Collectively, the ships functionally replace more than 40 ships (LPD 4, LSD 36, LKA 113 and LST 1179 classes of amphibious ships), providing the Navy and Marine Corps with modern, sea-based platforms that are networked, survivable and built to operate with 21st century platforms, such as the MV-22 Osprey and the Expeditionary Fighting Vehicle (EFV).

The LPD 17-class ships are 684 feet long and 105 feet wide and displace approximately 25,000 tons. Their principal mission is to deploy the combat and support elements of Marine Expeditionary Units and Brigades. The ships can carry up to 800 troops and have the capability of transporting and debarking air cushion (LCAC) or conventional landing craft and EFVs, augmented by helicopters or vertical take-off and landing aircraft such as the MV-22. These ships will support amphibious assault, special operations or expeditionary warfare missions through the first half of the 21st century.

Huntington Ingalls Industries (HII) designs, builds and maintains nuclear and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe. For more than a century, HII has built more ships in more ship classes than any other U.S. naval shipbuilder. Employing nearly 38,000 in Virginia, Mississippi, Louisiana and California, its primary business divisions are Newport News Shipbuilding and Ingalls Shipbuilding. For more information, please visit www.huntingtoningalls.com.

The Huntington Ingalls Industries, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9418

Statements in this release, other than statements of historical fact, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed in these statements. Factors that may cause such differences include: changes in government and customer priorities and requirements (including government budgetary constraints, shifts in defense spending, and changes in customer short-range and long-range plans); our ability to obtain new contracts, estimate our costs and perform effectively; risks related to our spin-off from Northrop Grumman (including our increased costs and leverage); our ability to realize the expected benefits from consolidation of our Gulf Coast facilities; natural disasters; adverse economic conditions in the United States and globally; and other risk factors discussed in our filings with the U.S. Securities and Exchange Commission. There may be other risks and uncertainties that we are unable to predict at this time or that we currently do not expect to have a material adverse effect on our business, and we undertake no obligations to update any forward-looking statements.

CONTACT: Bill Glenn
         william.glenn@hii-co.com
         228-327-1671