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U.S. Army Awards General Dynamics HYDRA-70 2.75-Inch Rocket Contract

BURLINGTON, Vt. -- General Dynamics Ordnance Systems, a subsidiary of General Dynamics Armament Systems, has been awarded a firm-fixed-price, indefinite delivery-requirements contract with an estimated maximum potential value of approximately $1.268 billion, for HYDRA-70 2.75-inch rockets, warheads, motors and incidental engineering services. Work will be performed at various locations inside the continental United States, and is expected to be completed by June 30, 2006.

General Dynamics Ordnance Systems has been the prime contractor for the rocket system since 1995 and is teamed with PRIMEX of St. Petersburg, Florida, and Alliant Techsystems of Hopkins, Minnesota. General Dynamics Ordnance Systems will provide program integration, systems engineering and subcontract management of an industry team that will manufacture critical components and assemble and test rockets at a load, assemble and pack facility in Camden, Arkansas.

"The HYDRA-70 is a key program for General Dynamics," said General Dynamics Armament Systems President Linda Hudson. "This award secures our position as the world’s largest producer of air-to-ground rocket systems and positions us for major international sales over and above the base contract. We are looking forward to the continuation of our strong partnering relationship with the U.S. Army."

The HYDRA-70 rocket is the most widely used helicopter weapon system in the world today. The rocket system is fired from many different rotary and fixed-wing platforms, including the U.S. Army Apache and Marine Corps Cobra helicopters, the Air Force F-16 Falcon fighter and the combat aircraft of over 15 nations worldwide. The HYDRA-70 meets a variety of special mission requirements and can defeat a broad range of enemy threats. It is a combat-ready system that has proved itself versatile, effective and affordable and has been selected for integration on many new helicopter programs around the world.

General Dynamics Armament Systems designs, develops and produces complete armament systems for fixed and rotary wing aircraft, land and sea-based applications. The parent company, General Dynamics (NYSE: GD), is headquartered in Falls Church, Virginia. General Dynamics supplies sophisticated defense systems to the United States and its allies. Employing about 30,800 people, the company had 1998 sales of approximately $5 billion.

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Any "forward-looking statements" contained in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

General Dynamics Corporation (ticker: GD, exchange: NYSE)
News Release - Friday, June 18, 1999
Press Contact: (703) 876-3190



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