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Navy Announces $238 Million Contract to General Dynamics Bath Iron Works, Litton Ingalls Shipbuilding for Development of 21st Century Destroyer

BATH, Maine -- The U.S. Navy has awarded the DD-21 Shipbuilder Alliance a $238 million contract for implementation of Phase II of the design and development of the next-generation destroyer. The Blue Team, led by General Dynamics Bath Iron Works, will receive $98.4 million in Phase II. A similar amount will go to the Gold Team led by Litton Ingalls Shipbuilding.

In May 1998, the government designated BIW and Ingalls as the DD-21 Shipbuilder Alliance. The Alliance oversees contractual management for the two teams, which are developing distinct competitive proposals. The Blue Team led by BIW, includes Lockheed Martin Corp., Northrop Grumman, and SAIC Corp; the Gold Team, led by Ingalls, includes Raytheon Systems Co., and Boeing. The Navy awarded the initial phase funding for the DD-21 design process on June 12, 1998. The downselect to one team’s design is scheduled for May 2001. The government has stated that BIW and Ingalls will share ship production throughout the program.

Bath Iron Works of Bath, Maine, a leader in surface combatant design and construction, employs 7,700 people. It is a subsidiary of General Dynamics (NYSE:GD), headquartered in Falls Church, Virginia. General Dynamics has leading market positions in shipbuilding and marine systems, land and amphibious combat systems, information systems, and business aviation. The company employs 44,000 people worldwide and has annualized sales of approximately $10 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 - Tuesday, November 30, 1999
Press Contact: (703) 876-3190



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