EXHIBIT 99

For Immediate Release

LOCKHEED MARTIN BOARD AUTHORIZES TWO-FOR-ONE STOCK SPLIT, DIVIDEND INCREASE

BETHESDA, Maryland, October 22, 1998  The board of directors of Lockheed Martin
(NYSE:LMT) today declared a two-for-one split of the Corporation's common stock
and a cash dividend increase.

The split will be in the form of a stock dividend and stockholders of record on
December 1, 1998, will receive one additional share for each share of Lockheed
Martin Corporation common stock held.  The new shares will be issued 
December 31, 1998.

The split will have the effect of altering the exchange ratio contemplated by
the Agreement and Plan of Merger between Lockheed Martin and COMSAT Corporation
from 0.5 to 1.0, as previously announced, to a one-for-one exchange ratio.

December 1 also will be the record date for the fourth-quarter cash dividend of
$.44, or $1.76 annually, on pre-split shares, ($.22 quarterly on a post-split
basis) representing a $.04 per-share increase over the previous cash dividend of
$.40 per share.  The dividend will be payable on December 31.

CONTACT:  Charles Manor, Lockheed Martin News & Information, 301/897-6258.