075-M
MEMORANDUM FOR CORRESPONDENTS May 7, 1998

CORRECTION
CORRECTION CORRECTION

In Memorandum for Correspondents No. 054-M dated April 6, 1998, that detailed the Selected Acquisition Reports as of December 1, 1997, the paragraph under the Navy section about the New Attack Submarine was incorrect.

The original paragraph read: NSSN (New Attack Submarine) Program costs decreased $3,341.9 million (-5.0%) from $67,033.9 million to $63,692.0 million, due primarily to the application of revised escalation rates (-$4,376.3 million). The increases were partially offset by a revised initial outfitting cost estimate based on recent information from the Seawolf (SSN-21) program (-1,296.2 million).

The corrected paragraph should read: NSSN (New Attack Submarine) - Program costs decreased $3,341.9 million (-5.0%) from $67,033.9 million to $63,692.0 million, due primarily to the application of revised escalation rates (-$4,376.3 million) and the acceleration of the build profile (-$589.6 million). These decreases were partially offset by a revised estimate to reflect corrected inflation indices (+$1,412.4 million).