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General Dynamics Awarded $141 Million Egyptian Tank Co-production Contract

STERLING HEIGHTS, Mich. – The U.S. Army Tank-automotive and Armaments Command has awarded General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), a $141 million contract modification for 100 M1A1 hardware kits for the Egyptian tank co-production program. The contract being modified was awarded in October 1999.

Delivery of the tank hardware kits to the Egyptian tank plant in Cairo, Egypt, where the tanks will be assembled, will be completed by November 2005.

The Egyptian co-production program began with an order for 555 M1A1 kits in 1991, which were completed in 1998. An additional 100 kits will be completed in April 2003 and, when completed, this latest order will bring the total Egyptian tank co-production up to 755 M1A1 tank kits.

Every General Dynamics Land Systems production facility will contribute to the content of each kit. The General Dynamics-operated Lima Army Tank Plant, Lima, Ohio, will provide the turret structure and armor packs (39 percent). The Muskegon, Mich., plant will manufacture the commander's weapon station and hatches (12 percent). The Scranton Plant, Eynon, Penn., will produce major suspension components (24 percent). The Tallahassee, Fla., plant will make the electronics boxes (5 percent), the Imperial Valley Operations in Imperial Valley, Calif., will assemble the wiring harnesses (17 percent), and the Anniston Army Depot in Anniston, Ala., will provide the gunners’ primary sights (3 percent). Imperial Valley and Lima will also do the final packaging and crating of all components to be shipped to Egypt.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 54,000 people worldwide and anticipates 2002 revenues of approximately $14 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 - Friday, November 8, 2002
Press Contact: (703) 876-3199