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General Dynamics Receives $85 Million Order for Hydra-70 Rockets

BURLINGTON, Vt. – General Dynamics Armament Systems, a business unit of General Dynamics (NYSE: GD), has received an $85 million order from the U.S. Army Operations Support Command, Rock Island, Illinois, for the production of Hydra-70 rockets and motors for customers that include the U.S. Army, Air Force and Navy. This order is part of a five-year contract awarded to General Dynamics in June 1999.

As the prime contractor for rocket production, General Dynamics Armament Systems provides system management of this program at its Burlington, Vermont headquarters. Primary work on the program is performed in Camden, Ark., while some component assembly work is performed at General Dynamics’ Stone County facility in McHenry, Miss.

Total contract value to date stands at $580 million against a maximum potential value of $1.2 billion over the five-year contract period. Contract deliveries against the most recent order run from April 2003 through November 2004.

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 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. The company designs, develops and produces complete armament systems for warfighters, fixed and rotary wing aircraft, land vehicles and sea-based platforms. In addition, Armament Systems provides system management for several key DoD programs, including the Hydra-70 2.75-inch rocket system. More information about Armament Systems can be found on the World Wide Web at www.gdarm.com.

General Dynamics, headquartered in Falls Church, Va., employs approximately 52,000 people worldwide and had 2001 revenues of $12 billion. The company has leading market positions in land and amphibious combat systems, mission-critical information systems and technologies, shipbuilding and marine 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 - Wednesday, April 3, 2002
Press Contact: (802) 657-6486