Photo Release -- Ingalls Shipbuilding Awarded $487 Million Contract to Build Sixth U.S. Coast Guard National Security Cutter

Photo Release -- Ingalls Shipbuilding Awarded $487 Million Contract to Build
Sixth U.S. Coast Guard National Security Cutter

PASCAGOULA, Miss., May 1, 2013 (GLOBE NEWSWIRE) -- Huntington Ingalls
Industries (NYSE:HII) announced today that the U.S. Coast Guard has awarded a
$487 million, fixed-price-incentive-fee contract to its Ingalls Shipbuilding
division to build the sixth National Security Cutter, Munro (WMSL 755).

NSC Contract
 Ingalls Shipbuilding has received a
 $487 million contract to build the
 sixth National Security Cutter (NSC),
 Munro (WMSL 755). The third NSC,
 Stratton (WMSL 752, pictured) was
 commissioned in 2012, and two more are
 currently under construction at
 Ingalls.

A photo accompanying this release is available at
http://media.globenewswire.com/hii/mediagallery.html?pkgid=18436

"Our Coast Guard customer continues to be extremely pleased with the
performance of the NSC, and this contract proves that," said Jim French,
Ingalls' NSC program manager. "Our shipbuilders continue to execute well on
this contract, and the design/build plan is at a mature stage. We currently
have two more ships under construction and expect to start NSC 6 in October."

NSCs, the flagships of the Coast Guard's cutter fleet, were designed to
replace the 378‐foot Hamilton-class high-endurance cutters, which entered
service during the 1960s. Ingalls has delivered the first three. The fourth,
Hamilton (WMSL 753), currently at 40 percent complete, is scheduled to launch
this summer and will be christened in October.

Keel-laying for the fifth NSC, James (WMSL 754), is set for May 17. The ship
is currently 17 percent complete and will launch in the spring of 2014. A
long-lead material contract for Munro was awarded in 2012, and all associated
equipment has been ordered.

Ingalls builds, integrates and tests the NSC hull, mechanical and electrical
(HME) systems, while Lockheed Martin provides the command, control,
communications, computers, intelligence, surveillance and reconnaissance
(C4ISR) capabilities onboard the cutters.

NSCs are 418 feet long with a 54-foot beam, displacing 4,500 tons with a full
load. They have a top speed of 28 knots, a range of 12,000 miles, an endurance
of 60 days and a crew of 110.

The Legend-class NSC is capable of meeting all maritime and national security
mission needs required of the high-endurance cutter, including new
requirements in support of Arctic exploration. The cutter includes an aft
launch and recovery area for two rigid-hull inflatable boats and a flight deck
to accommodate a range of manned and unmanned rotary wing aircraft. It is the
largest and most technologically advanced class of cutter in the Coast Guard,
with robust capabilities for maritime homeland security, law enforcement,
marine safety, environmental protection and national defense missions. This
class of cutters plays an important role enhancing the Coast Guard's
operational readiness, capacity and effectiveness at a time when the demand
for their services has never been greater.

Huntington Ingalls Industries (HII) designs, builds and maintains nuclear and
non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market
services for military ships around the globe. For more than a century, HII has
built more ships in more ship classes than any other U.S. naval shipbuilder at
its Newport News Shipbuilding and Ingalls Shipbuilding divisions. Employing
about 37,000 in Virginia, Mississippi, Louisiana and California, HII also
provides a wide variety of products and services to the commercial energy
industry and other government customers, including the Department of Energy.
For more information about HII, visit:

  *HII on the web: www.huntingtoningalls.com
  *HII on Facebook: www.facebook.com/HuntingtonIngallsIndustries
  *HII on Twitter: twitter.com/hiindustries

The Huntington Ingalls Industries, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=9418

Statements in this release, other than statements of historical fact,
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements involve
risks and uncertainties that could cause our actual results to differ
materially from those expressed in these statements. Factors that may cause
such differences include: changes in government and customer priorities and
requirements (including government budgetary constraints, shifts in defense
spending, and changes in customer short-range and long-range plans); our
ability to obtain new contracts, estimate our costs and perform effectively;
risks related to our spin-off from Northrop Grumman (including our increased
costs and leverage); our ability to realize the expected benefits from
consolidation of our Gulf Coast facilities; natural disasters; adverse
economic conditions in the United States and globally; and other risk factors
discussed in our filings with the U.S. Securities and Exchange Commission.
There may be other risks and uncertainties that we are unable to predict at
this time or that we currently do not expect to have a material adverse effect
on our business, and we undertake no obligations to update any forward-looking
statements.

CONTACT: Bill Glenn
         William.Glenn@hii-co.com
         228-327-1671

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