EXHIBIT 99.1


    CalComp Finalizes Agreement for Funding to Allow Shutdown of Operations
                    Company Plans Liquidation of Operations

     ANAHEIM, Calif.--Jan. 15, 1999--CalComp Technology, Inc. (Nasdaq:CLCP)
Friday said it has completed an agreement under which Lockheed Martin
Corporation (NYSE:LMT), its majority shareholder and principal lender, will
provide additional funding to assist CalComp in a nonbankruptcy shutdown of its
operations.

     "The arrangement with Lockheed Martin will make it possible for CalComp to
sell or liquidate its assets in a manner that will take into account the best
interests of our shareholders, creditors, employees, customers and suppliers,"
said John C. Batterton, president and chief executive officer.

     Batterton said the shutdown will take approximately six months. He noted
that, while the company anticipates that it will be able to pay its
nonaffiliated creditors in full, the company's ability to do so will depend on
receiving sufficient cash from the sale of its assets. He added that CalComp
believes that it is highly unlikely that there will be any funds or assets
available for distribution to its preferred and common shareholders.

     As part of the preparation for the shutdown of CalComp's business, the
company will shortly issue notices to its employees under the Federal Workers
Adjusted and Retraining Notification Act informing them of the scheduled
termination of their employment in connection with the shutdown.

     Approximately 450 employees, or 65 percent of the company's North America
workforce, will be terminated in January 1999.

     The funding of the shutdown follows a previous decision by Lockheed Martin
to not extend CalComp's existing $43 million credit capacity. CalComp expects to
reach its credit limit this month and does not anticipate being able to obtain
additional funding from other sources.

     CalComp Technology is a leading developer and manufacturer of computer
graphics peripherals and supplies, for personal, business, and professional
applications. As an industry leader in piezo inkjet technology, CalComp develops
image marking systems and components that support advanced digital printing
applications.

     Corporate offices are located in Anaheim, Calif. For more information,
visit the CalComp Web site at www.calcomp.com, or call 800/CALCOMP 
(800/225-2667).


 
     This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, the company's ability to successfully liquidate
its assets and conduct an orderly shutdown of its operations.

Contact:

     CalComp Technology Inc., Anaheim
     John J. Millerick, 714/821-2314