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HERCULES INC. ANNOUNCES AGREEMENT WITH MARTIN MARIETTA CORPORATION TO DISMISS PENDING LITIGATION BETWEEN THE COMPANIES

 WILMINGTON, Del., Oct. 15 /PRNewswire/ -- Hercules Incorporated (NYSE: HPC) today announced that it has reached agreement with Martin Marietta Corp. (NYSE: ML) to submit jointly to the U.S. District Court in Utah a proposed order of dismissal of pending litigation between the two companies related to the Titan IV Solid Rocket Motor Upgrade (SRMU) program, as encouraged by the U.S. Congress in the 1993 Defense Appropriations Act.
 The agreement, in conjunction with an agreement signed between the U.S. Air Force and Martin Marietta, stipulates that Hercules will be reimbursed by the Air Force through Martin Marietta for its program investment and development costs and calls for the resolution of open contractual items. The reimbursements to Hercules are in excess of $200 million and will be received in the fourth quarter of 1993. According to a Hercules spokesperson, this cost reimbursement for initial investment and development does not address earlier losses associated with program difficulties that Hercules incurred on SRMU. The SRMU program losses were taken by the company in 1989 and 1991 and will not be recovered.
 According to the Hercules spokesperson, the Titan IV SRMU program is progressing well and has recently successfully completed its final qualification static test firing at Edwards AFB, California. Delivery of flight-ready rocket motors will begin in early 1994.
 /delval/
 -0- 10/15/93
 /CONTACT: Donald R. Kirtley of Hercules, 302-594-6918/
 (HPC ML)


CO: Hercules Incorporated; Martin Marietta Corp. ST: Delaware IN: ARO SU:

JM-CC -- PH038 -- 2981 10/15/93 18:10 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
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