Exhibit 99(b)
                                                                   -------------

LOCKHEED MARTIN EXTENDS
COMSAT TENDER OFFER
UNTIL JANUARY 14, 1999


BETHESDA, Maryland, November 17, 1998 --Lockheed Martin Corporation (NYSE:LMT)
announced today that its wholly-owned subsidiary, Regulus, LLC, is extending its
offer to purchase up to 49% (less certain adjustments) of the outstanding shares
of common stock of COMSAT Corporation (NYSE:CQ) at a price of $45.50 per share,
net to the seller in cash, until 12:00 midnight, New York City time, on
Thursday, January 14, 1999.

The offer previously had been scheduled to expire on November 24, 1998.  The
terms of the extended offer otherwise remain the same as those of the original
offer as set forth in the offering materials filed with the Securities &
Exchange Commission on September 25, 1998.  The offer is being extended because
certain required regulatory and shareholder approvals have not yet been
obtained.

As noted in the offering materials, it is expected that a significant period of
time will elapse between the commencement and the consummation of the offer,
while the parties seek to obtain the regulatory approvals required in order to
satisfy the conditions to the offer.  The expiration date may be required to be
extended one or more additional times while such regulatory approvals are
sought.  In addition, in view of the need for U.S. congressional legislation
relating to the amendment or repeal of the Satellite Act, and for additional
regulatory approvals as conditions to the consummation of the merger, there may
be a further significant period of time between the purchase of shares pursuant
to the offer and the consummation of the merger.  There can be no assurance that
any such regulatory approvals will be obtained or that any such legislation will
be enacted, and if obtained and enacted, there can be no assurance as to the
date such approval and enactments will occur.

According to First Chicago Trust Company of New York, the depositary for the
offer, as of the close of business on November 16, 1998, 5,422,678 shares of
COMSAT Corporation common stock had been validly tendered and not withdrawn
pursuant to the offer.  None of these shares were tendered pursuant to notices
of guaranteed delivery.

The Information Agent for the offer is Morrow & Co., Inc. and questions about
the tender offer may be addressed to it at 1-800/566-9061.  The Dealer Manager
is Bear, Stearns & Co. Inc. and questions may be addressed to it at 1-877/762-
5237.

The proposed $2.7-billion Lockheed Martin/COMSAT strategic combination was
announced September 20, 1998.  Upon completion of the transaction, COMSAT will
become an integral element

 
of Lockheed Martin Global Telecommunications, a wholly owned subsidiary formed
to provide global telecommunications services to corporate and government
customers worldwide.

                                     # # #

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



NOTE:  Statements which are not historical facts are forward-looking
       statements made pursuant to the safe harbor provision of the Private
       Securities Litigation Reform Act of 1995.  Such forward-looking
       statements involve risks and uncertainties that could cause actual
       results to differ materially from anticipated results including the
       effects of government budgets and requirements, economic conditions,
       competitive environment, timing of awards and contracts; the outcome of
       contingencies including litigation and environmental remediation, and
       program performance in addition to other factors not listed.  See in this
       regard the Corporation's filings with the Securities and Exchange
       Commission.  The Corporation does not undertake any obligation to
       publicly release any revisions to forward-looking statements to reflect
       events or circumstances or changes in expectations after the date of this
       press release or the occurrence of anticipated events.