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Gulfstream Awarded $100 Million Contract by Japan Coast Guard

Ultra Long-range Gulfstream V Aircraft Equipped for Ocean Surveillance, Search and Rescue, Fleet Mission Support, and Emergency Medevac

WASHINGTON, D.C. – Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), in partnership with its Japanese trading company, Marubeni Aerospace, has been selected to supply two Gulfstream V special mission aircraft to the Japan Coast Guard. Gulfstream won the bid – worth approximately $100 million – in an open competition to provide Japan with an all-new ocean surveillance and rescue capability. In addition to the two aircraft, the program includes dedicated engineering support for modification and integration of the mission systems.

The Japan Coast Guard’s Gulfstream aircraft will be equipped with a high performance airborne surveillance radar, a forward-looking infra-red system, and other search and rescue equipment. With ultra long range, high speed and exceptional endurance, the Gulfstream V aircraft can conduct missions over broad coverage areas. The two Gulfstream V aircraft will join seven long range Gulfstream IV aircraft currently operated by the government of Japan.

"Gulfstream’s association with the government of Japan has spanned almost three decades," said Bill Boisture, Gulfstream president and chief operating officer. "We are honored that the Japan Coast Guard has selected our aircraft for this important mission, and that they will join the Japan Defense Agency and the Japan Civil Aviation Bureau as operators of Gulfstream aircraft."

More than 30 countries operate Gulfstream aircraft, including 23 that use them to transport their heads of state. In the United States, 93 percent of all large business jets delivered to the government from 1968 to the present have been Gulfstream aircraft. Their roomy cabins permit a wide range of configurations and an abundance of specialized equipment.

"The Gulfstream V offers extraordinary performance and reliability," added Boisture. "It’s the right choice for demanding and critical national missions."

Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), designs, develops, manufactures, markets and services the world’s most technologically advanced intercontinental business jet aircraft. Gulfstream has produced more than 1,200 aircraft for customers around the world since 1958. To meet the aviation needs of its customers, Gulfstream offers a full range of aircraft products and services, including the Gulfstream 100®, Gulfstream 200®, Gulfstream IV-SP®, the ultra-long range Gulfstream V® and Gulfstream V-SP®, Gulfstream Shares®, Gulfstream Financial Services®, Gulfstream Lease®, Gulfstream Pre-Owned Aircraft Sales®, Gulfstream Management Services® and Gulfstream ServiceCare®. The company employs more than 8,750 people at eight locations. More information and photos are available at www.gulfstream.com.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 52,000 people and anticipates 2001 sales of approximately $12 billion. The company has leading market positions in business aviation, information systems, shipbuilding and marine systems, and land and amphibious combat systems.

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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 - Wednesday, November 14, 2001
Press Contact: (912) 965-7372