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                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

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                                SCHEDULE 13E-4

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                         ISSUER TENDER OFFER STATEMENT
                     (Pursuant to Section 13(e)(1) of the 
                       Securities Exchange Act of 1934)
                                (AMENDMENT NO.2)

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                          LOCKHEED MARTIN CORPORATION
                               (Name of Issuer)

                          LOCKHEED MARTIN CORPORATION
                     (Name of Person(s) Filing Statement)

                                 COMMON STOCK
                          par value $1.00 per shares
                        (Title of Class of Securities)

                                  539830 10 9

                     (CUSIP Number of Class of Securities)

                               Stephen M. Piper
                          LOCKHEED MARTIN CORPORATION
                             6801 Rockledge Drive
                           Bethesda, Maryland 20817
                                (301) 897-6000

                                   -Copy to-

                              William J. Phillips
                             Jonathan L. Freedman
                               Dewey Ballantine
                          1301 Avenue of the Americas
                        New York, New York  10019-6092
                                (212) 259-8000

         (Name, Address and Telephone Number of Person Authorized to 
                Receive Notices and Communications on behalf of
                          Person(s) Filing Statement)

                              September 16, 1996
                   (Date Tender Offer First Published, Sent
                         or Given to Security Holders)

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                This Amendment No. 2 amends and supplements the Issuer Tender
Offer Statement on Schedule 13E-4, dated September 16, 1996, as amended by
Amendment No. 1 dated October 21, 1996, of Lockheed Martin Corporation, a
Maryland corporation ("Lockheed Martin"), relating to the offer by Lockheed
Martin to exchange 4.72 shares of common stock, par value $.01 per share
("Materials Common Stock"), of Martin Marietta Materials, Inc., a North Carolina
corporation ("Materials"), of which Lockheed Martin owns approximately 81% of
the issued and outstanding shares, for each share of common stock of Lockheed
Martin, par value $1.00 per share ("Lockheed Martin Common Stock"), upon the
terms and subject to the conditions set forth in the Offering Circular -
Prospectus dated September 16, 1996 (the "Offering Circular - Prospectus") and
the related Letter of Transmittal. Capitalized terms used but not defined herein
have the meanings ascribed to them in the Offering Circular - Prospectus.

ITEM 9.         MATERIAL TO BE FILED AS EXHIBITS.

                (a) (16)    Press Release dated October 25, 1996.


 
                                   SIGNATURE

        After due inquiry and to the best of my knowledge and belief, I certify 
that the information set forth in this statement is true, complete and correct.

Dated:  October 25, 1996

                                        LOCKHEED MARTIN CORPORATION



                                        By:  /s/  Stephen M. Piper
                                           --------------------------
                                           Name:  Stephen M. Piper
                                           Title: Associate General
                                                  Counsel and
                                                  Assistant Secretary


 
 
                                 EXHIBIT INDEX

Exhibit No.                       Description                          Page No.
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(a) (16)                          Press Release dated
                                  October 25, 1996



 
                        [LETTERHEAD OF LOCKHEED MARTIN]



                                                           FOR IMMEDIATE RELEASE
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LOCKHEED MARTIN, MARTIN MARIETTA MATERIALS ANNOUNCE FINAL EXCHANGE OFFER 
PRORATION FACTOR

BETHESDA, Maryland and RALEIGH, North Carolina, October 25 -- Lockheed Martin 
Corporation (NYSE:LMT) and Martin Marietta Materials (NYSE:MLM) announced today 
a final proration factor of 17.97 percent for the exchange offer through which 
Lockheed Martin shareholders were given the opportunity to exchange shares of 
Lockheed Martin common stock for common stock in Martin Marietta Materials, Inc.

The exchange offer, which was oversubscribed, expired at midnight last Friday.
Based on the final count by the exchange agent, 42,881,411 shares of Lockheed
Martin stock were tendered for exchange, including 253,120 shares held by
eligible odd-lot shareholders. In accordance with the terms of the exchange
offer, Lockheed Martin has unconditionally accepted 7,913,136 shares of Lockheed
Martin in exchange for the 37,350,000 shares of Martin Marietta Materials that
it owned. All shares tendered by eligible odd-lot shareholders will be accepted;
all other shares tendered will be prorated at 17.97 percent.

                                    (MORE)

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As a result of this transaction, Lockheed Martin has no remaining ownership 
interest in Martin Marietta Materials and has reduced its common shares 
outstanding by 7,913,136, or approximately 4 percent, to 192,542,724 shares. 
Martin Marietta Materials has 46,079,300 shares outstanding.

Certificates for shares of Martin Marietta Materials common stock, checks in 
lieu of fractional Martin Marietta Materials shares, and Lockheed Martin shares 
tendered but not accepted for exchange will be mailed on or about October 31 as 
designated by the tendering shareholder.

Lockheed Martin, headquartered in Bethesda, Maryland, is a diversified 
enterprise focused on the research, development, design, manufacture and 
integration of advanced-technology products and services.

Martin Marietta Materials, based in Raleigh, North Carolina, is the second 
largest producer in the U.S. of aggregates used for the construction of highways
and other infrastructure projects, and for commercial and residential 
construction, and also produces products for the steel industry and for 
industrial, environmental and agricultural applications.

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CONTACT:  Charles Manor, Lockheed Martin News & Information, 301/897-6258
          James Ryan, Lockheed Martin Investor Relations, 301/897-6584
          Janice Henry, Martin Marietta Materials, 919/783-4658