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General Dynamics Receives $32 Million HYDRA-70 Rocket Order

BURLINGTON, Vt. – General Dynamics Armament Systems, a wholly owned subsidiary of General Dynamics (NYSE: GD), has been awarded a $31.9 million order for the production of HYDRA-70 rockets, motors and warheads for the U.S. Navy, Air Force, Army, and foreign military users. This order is part of a five-year contract with the U.S. Army’s Industrial Operations Command (IOC) that was awarded General Dynamics Armament Systems in June 1999. Earlier this year IOC awarded a $126.4 million order for U.S. Army and Air Force HYDRA-70 rocket system requirements. Total contract value to date stands at $225.7 million against a maximum potential value of $1.2 billion over the five-year period. Contract deliveries against the most recent order run from May 2001 through June 2002.

"We continue to remain encouraged by the strong demand for this weapon system from all branches of our armed forces and our allied nations," said Linda Hudson, president of General Dynamics Armament Systems.

The HYDRA-70 rocket is the most widely used helicopter weapon system in the world today. It is fired from many rotary and fixed-wing platforms, including the U.S. Army Apache and Marine Corps Cobra helicopters, the Air Force F-16 Fighting Falcon 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 provides a broad range of armament solutions for the full range of military applications. It designs, develops and produces complete armament and munitions systems for fixed and rotary wing aircraft, land vehicles and sea-based platforms. General Dynamics Armament Systems provides system management for several programs and, as a full-service, life cycle provider, it is a leader in the demilitarization of outdated munitions.

The parent company, General Dynamics, headquartered in Falls Church, Virginia, employs approximately 43,000 people worldwide and has annualized sales of approximately $10 billion. The company has leading market positions in shipbuilding and marine systems, land and amphibious combat systems, information systems, and business aviation.

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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 - Monday, April 3, 2000
Press Contact: (703) 876-3190