SECURITIES AND EXCHANGE COMMISSION
                         Washington, DC 20549





                             FORM 8-K



                          CURRENT REPORT



                  Pursuant to Section 13 or 15(d) of
                 the Securities Exchange Act of 1934


           Date of Report (Date of earliest event reported):

                           August 18, 1994


                        Lockheed Corporation
        (Exact name of registrant as specified in its charter)


            Delaware           1-2193            95-0941880
        (State or other     (Commission       (I.R.S. Employer
        jurisdiction of     File Number)     Identification No.)
        incorporation)



                4500 Park Granada Blvd.
                 Calabasas, California                  91399
        (Address of principal executive offices)      (Zip Code)


Registrant's telephone number, including area code:  (818) 876-2000



                          Not Applicable
    (Former name or former address, if changed since last report)

<PAGE>
Item 5.  Other Events.
         ------------

By letter dated August 18, 1994, the Acting Assistant Secretary, Department
of State, Bureau of Political-Military Affairs ("State Department") advised
Lockheed Corporation that it would be the State Department's policy
prospectively to deny defense related export privileges to Lockheed
Aeronautical Systems Company (LASC), a division of Lockheed Corporation.  The
State Department, referring to Sections 38, 39, and 42 of the Arms Export
Control Act (22 U.S.C. Sections 2778, 2779, and 2791), announced that its
action arose from the June 22, 1994, indictment of the Corporation alleging
that it had violated the Foreign Corrupt Practices Act by making prohibited
payments to a member of the Egyptian Parliament.  The State Department
announced that its action is confined to LASC and does not affect any other
Division or subsidiaries of Lockheed.  Moreover, the State Department
announced that the action does not apply to any approvals granted to
LASC programs before June 22, 1994, but, rather, to future export license
applications.  LASC may seek exceptions to the announced policy on a
case-by-case basis at the discretion of the State Department, Office of
Defense Controls, which must consider United States foreign policy and
national security interests, as well as law enforcement concerns.

The Company is disappointed that action has been taken against LASC in
spite of the presumption of innocence, on the basis of an indictment
containing unproven allegations.  As was stated at the time of the indictment,
Lockheed emphatically denies the allegations in the indictment and intends
to vigorously defend itself against the charges.  In the meantime, Lockheed
intends to continue cooperating fully with the State Department and to seek
exceptions for LASC programs which are vital to national security and
foreign policy interests.



                              SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                 LOCKHEED CORPORATION
                                    (Registrant)

Date:  August 22, 1994           By:/s/ CAROL R. MARSHALL
                                    ------------------------
                                        Carol R. Marshall
                                    Vice President-Secretary
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SECURITIES AND EXCHANGE COMMISSION
                         Washington, DC 20549

                             FORM 8-K

                          CURRENT REPORT

                  Pursuant to Section 13 or 15(d) of
                 the Securities Exchange Act of 1934

           Date of Report (Date of earliest event reported):

                           August 18, 1994

                        Lockheed Corporation
        (Exact name of registrant as specified in its charter)

            Delaware           1-2193            95-0941880
        (State or other     (Commission       (I.R.S. Employer
        jurisdiction of     File Number)     Identification No.)
        incorporation)

                4500 Park Granada Blvd.
                 Calabasas, California                  91399
        (Address of principal executive offices)      (Zip Code)

Registrant's telephone number, including area code:  (818) 876-2000

                          Not Applicable
    (Former name or former address, if changed since last report)
Item 5.  Other Events.
         ------------

By letter dated August 18, 1994, the Acting Assistant Secretary, Department
of State, Bureau of Political-Military Affairs ("State Department") advised
Lockheed Corporation that it would be the State Department's policy
prospectively to deny defense related export privileges to Lockheed
Aeronautical Systems Company (LASC), a division of Lockheed Corporation.  The
State Department, referring to Sections 38, 39, and 42 of the Arms Export
Control Act (22 U.S.C. Sections 2778, 2779, and 2791), announced that its
action arose from the June 22, 1994, indictment of the Corporation alleging
that it had violated the Foreign Corrupt Practices Act by making prohibited
payments to a member of the Egyptian Parliament.  The State Department
announced that its action is confined to LASC and does not affect any other
Division or subsidiaries of Lockheed.  Moreover, the State Department
announced that the action does not apply to any approvals granted to
LASC programs before June 22, 1994, but, rather, to future export license
applications.  LASC may seek exceptions to the announced policy on a
case-by-case basis at the discretion of the State Department, Office of
Defense Controls, which must consider United States foreign policy and
national security interests, as well as law enforcement concerns.

The Company is disappointed that action has been taken against LASC in
spite of the presumption of innocence, on the basis of an indictment
containing unproven allegations.  As was stated at the time of the indictment,
Lockheed emphatically denies the allegations in the indictment and intends
to vigorously defend itself against the charges.  In the meantime, Lockheed
intends to continue cooperating fully with the State Department and to seek
exceptions for LASC programs which are vital to national security and
foreign policy interests.

                              SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                 LOCKHEED CORPORATION
                                    (Registrant)

Date:  August 22, 1994           By:/s/ CAROL R. MARSHALL
                                    ------------------------
                                        Carol R. Marshall
                                    Vice President-Secretary