TRW Boosts Quarter, Full Year 2002 Guidance

TRW Inc.
increased its outlook for the second quarter and full year 2002 earnings.
Second quarter earnings are expected to be in the range of $1.08 to $1.10 per
share, a 30 percent increase over the prior year. For the full year, TRW’s
guidance is for earnings per share to be in the range of $3.70 to $3.75, up
20 percent from 2001. The improved outlook reflects vehicle production
increases in North America and benefits accruing from TRW’s company-wide
restructuring actions initiated during the past year.

TRW provides advanced-technology products and services for the automotive,
aerospace and systems markets. The company’s news releases are available
through TRW’s corporate web site www.trw.com .

This press release contains certain “forward-looking statements” that TRW
believes are within the meaning of the Private Securities Litigation Reform
Act of 1995. However, shareholders should be aware that the preparation of
any such forward-looking statements requires the use of estimates of future
revenues, expenses, activity levels and economic and market conditions, many
of which are outside the Company’s control. Further, the Company’s results
could be affected by the ability to obtain new contract awards; the level of
defense funding by the government and the termination of existing gfƒ-nment
contracts; pricing pressures from customers; moderation or decline in the
automobile build rate; changes in consumer debt levels; work stoppages;
unanticipated downturn in the financial condition of, or business
relationships with customers or suppliers; the ability to reduce the level of
outstanding debt from cash flow from operations and the proceeds from asset
dispositions; a credit rating downgrade; increase in interest rates; customer
recall and warranty claims; product liability and litigation issues; changes
to the regulatory environment regarding automotive safety; the introduction of
competing products or technology by competitors; the ability to attract and
retain skilled employees with high-level technical competencies; the financial
results of companies in which we have made technology investments; the
availability of funding for research and development; economic, regulatory and
political domestic and international conditions; fluctuations in currency
exchange rates; and the impact of additional terrorist attacks, which could
result in reduced automotive production, disruptions to the transportation
system, or significant and prolonged disruption to air travel. In addition,
there can be no assurance: (i) that North American 2002 light vehicle
production will increase from 2001 levels; (ii) that 2002 earnings per share
estimates will be met or exceeded; (iii) with respect to the amount of sales,
earnings per share or cash flow that will be realized by the Company in 2002;
and (iv) that the Company’s costs will decrease in 2002. Other factors and
assumptions not identified above are also involved in the preparation of
forward-looking statements, and the failure of such other factors and
assumptions to be realized may also cause actual results to differ materially
from those discussed. The Company assumes no obligation to update such
estimates to reflect actual results, changes in assumptions or changes in
other factors affecting such estimates other than as required by law.

• Contact:
• Ron Vargo, Investor Relations
• 216.291.7506