E.C. ``Pete'' Aldridge, Jr., will remain the CEO of the Corporation. Aldridge and Ballhaus will share the responsibility for the operations of Aerospace until Aldridge retires in late 2001.

Ballhaus joins Aerospace after an 11-year career with Lockheed Martin where he served most recently as corporate vice president, Engineering & Technology. In that post, he was responsible for monitoring the scientific and engineering expertise for the company and overseeing research and engineering functions throughout the corporation. Prior to his tenure with Lockheed Martin, Ballhaus served as president of two Martin Marietta businesses: Aero & Naval Systems, and Civil Space & Communications. He also was vice president and program director, Titan IV Centaur at Martin Marietta Space Launch Systems.

Prior to joining Martin Marietta, Ballhaus served as director of the NASA Ames Research Center at Moffett Field, California. He also acted as associate administrator for Aeronautics and Space Technology at NASA Headquarters in Washington, D.C., and served as president of the American Institute of Aeronautics and Astronautics.

``Bill's operations and research background will serve us well as we continue to pursue our primary mission of being a scientific and technical advisor to the Air Force and the Department of Defense on space systems,'' said Aldridge. ``He has the integrity, expertise and vision to understand our customers' needs and to carry The Aerospace Corporation proudly into the future,'' he said.

A native of Southern California, Ballhaus received bachelor's and master's of science degrees in mechanical engineering, and a Ph.D. in engineering from the University of California, Berkeley. Ballhaus has served as co-chair of the Air Force Scientific Advisory Board and currently serves on engineering advisory boards at the University of California, Berkeley, the University of Maryland, MIT, and Johns Hopkins.

Ballhaus and his wife, Jane, will relocate from Maryland to Southern California.

The Aerospace Corporation is an independent, nonprofit corporation that provides objective technical analyses and assessments for national security space programs and other space programs in the national interest.