Press release:

Lockheed Martin to Integrate Fuel Cells, Solar Power for Military Applications Under Contract with Office of Naval Research

AKRON, Ohio – Aug. 8, 2012 – Lockheed Martin [NYSE: LMT] secured a contract with the Office of Naval Research for the design and development of solid oxide fuel cell generator sets as an alternative to traditional battlefield power generation equipment. Lockheed Martin’s fuel cell technology will be integrated with solar panels, providing the military with the power needed to perform missions while using dramatically less fuel.

At the end of the 32-month development program, Lockheed Martin will demonstrate and deliver a multi-kilowatt JP-8 compatible Fuel Cell Efficient Power Node for evaluation by the U.S. Marines. The goal of the approximately $3 million dollar contract is to reduce overall fuel usage required for tactical electrical generation by 50 percent or more.

More than 100,000 military generators are used worldwide to power services from lighting and air conditioning to computers, radios, and command and control systems. Solid oxide fuel cells convert fuel into electricity using a chemical reaction that is 30 to 50 percent more efficient than the combustion engines used in diesel generators, which are the largest consumers of fuel on the battlefield today. Because fuel cells require less fuel to create the same amount of power, they offer the potential to save billions of dollars in operational costs and to reduce the number of military casualties that are directly related to the delivery of fuel.

“Lockheed Martin shares the U.S. Department of Defense’s top goals of increasing the safety of our troops and reducing operational costs,” said Dan Heller, vice president of new ventures for Lockheed Martin Mission Systems & Sensors. “Alternative energy solutions, such as the fuel cell we are developing for the Office of Naval Research, can help mitigate these challenges, advancing the strength and flexibility of our military operating in some of the world’s toughest conditions.”

Lockheed Martin is working with Cleveland-based TMI to mature the fuel cell technology. In addition to Lockheed Martin-funded research and development, this team has received competitive grants from the Ohio Third Frontier, a program committed to creating new technology-based products, companies, industries and jobs. In 2011, Lockheed Martin became the first company to continuously operate a solid oxide fuel cell generator set for over one thousand hours on standard DoD-supplied JP-8, and remains the only company to do so to date.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 120,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2011 were $46.5 billion.

Assignment of Fuji Heavy Industries Wind Turbine Generator System Business to Hitachi

Assignment of Fuji Heavy Industries
Wind Turbine Generator System Business to Hitachi

Tokyo, March 30, 2012 – Hitachi Ltd. (NYSE:HIT / TSE:6501, Hitachi) and Fuji Heavy Industries, Ltd. (TSE:7270, FHI) have reached a basic agreement on the assignment of FHI's wind turbine generator system business to Hitachi. Towards the completion of assignment, which is planned for July 1, 2012, Hitachi and FHI will discuss the specific terms of the future agreement.

In recent years, environmental awareness and the rapid increase in the price of materials have been important issues in our society. The value of applying renewable energies including wind energy and solar energy are becoming increasingly apparent. Specifically in the area of wind power generation systems, further introduction and expansion in Japan is widely predicted, especially given Japan's geography. Japan has many hills and mountains, and wind turbines can be installed even in those areas. It is also anticipated that demand for large wind turbine systems will also increase in offshore markets in the future.

Hitachi and FHI co-developed a 2,000kW level downwind type power generation system in 2003. This prototype machine was installed in Hasaki, Kamisu City, Ibaraki Pref. Japan in December 2005, followed by the delivery of a total of 25 units of wind power generation systems at 6 sites throughout the country. The downwind type turbine is a wind turbine that is installed with its rotor under the lee of the tower. It can effectively catch wind to generate power on hills and at sea. Hitachi designed and manufactured the power generator and the power control component and has also sold and installed the wind power system. FHI designed and manufactured the nacelle, blade, and tower. Hitachi and FHI have developed a strong business relationship through their cooperation and expansion of this business.

After the assignment, Hitachi will consolidate the resources of the two companies to enhance the design and development capability, and integrate the manufacturing and distribution so that it can quickly respond to future market needs. Hitachi will combine its power control technologies as well as the system linkage and stabilization technologies with FHI's downwind type turbine technologies, with the goal of expanding further into the renewable energy market.

FHI will concentrate its management resources to other divisions including the Subaru automotive business.

About Hitachi, Ltd.

Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2010 (ended March 31, 2011) consolidated revenues totaled 9,315 billion yen ($112.2 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.

About Fuji Heavy Industries, Ltd.

FHI, the maker of Subaru automobiles, is a leading manufacturer in Japan with a long history of technological innovations that dates back to its origin as an aircraft company. While the automotive business is a main business pillar, FHI's Aerospace, Industrial Products and Eco Technologies divisions offer a diverse range of products from general-purpose engines, power generators, and sanitation trucks to small airplanes, crucial components for passenger aircrafts, and wind-powered electricity generating systems. Recognized internationally for its AWD (all-wheel drive) technology and Horizontally-Opposed engines in Subaru, FHI is also spearheading the development of environmentally friendly products and is committed to contributing to global environmental preservation.