An overview of the Lockheed Martin Team's NGST Reference Architecture is discussed. Our f/1 NGST concept includes a lightweight 8-meter primary mirror consisting of eight deployed petals. Alignment and figure control employs wavefront-sensing techniques. Infrared observations are enabled by using a tennis court size multi-layer deployed sunshield permitting the primary mirror to be passively cooled to < 40 K. Candidate Science Instruments cover the spectral range from 0.6 microns to greater than 20 microns. The Integrated Science Instrument Module (ISIM) is passively cooled to approximately 30 K. The Observatory is launched on an AtlasV-531M in 2008 and operates at the L2 LaGrange Point. Science Planning and Mission Operations are the responsibility of the Space Telescope Science Institute in Baltimore Maryland. The ISIM is the responsibility of Goddard Space Flight Center (GSFC). The Lockheed Martin Team, including Raytheon, Honeywell, and Jackson and Tull, is an NGST Phase 1 Prime Contractor. The GSFC manages the NGST Project in Greenbelt Maryland.