NEW ORLEANS, LOUISIANA - Avondale Industries, Inc. (NASDAQ/NMS-AVDL) announced today that its board of directors has called a special shareholders meeting to be held on July 27, 1999 for the purpose of voting to approve Avondale's previously announced merger with Litton Industries, Inc. If the merger is completed, Avondale's shareholders will receive $39.50 in cash for each share of Avondale common stock they hold. After the merger, Avondale will become a wholly-owned subsidiary of Litton. The merger is subject to Avondale shareholder approval, U. S. regulatory review and other customary closing conditions. Subject to the foregoing, the merger is expected to be completed in the third quarter of 1999. Avondale Industries, Inc. based in metro New Orleans, designs, builds and overhauls ships for the U.S. Navy, the U.S. Coast Guard and commercial customers. Litton is a leader in worldwide technology markets for advanced electronic, defense and information systems, and is a major designer and builder of surface combatant ships for the U.S. Navy and allied nations.