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General Dynamics Bath Iron Works Awarded $72 Million Navy Contract for Engineering Services on DDG 51 Program

BATH, MAINE ­– The U.S. Navy has awarded Bath Iron Works, a subsidiary of General Dynamics (NYSE: GD), a $72 million contract for Lead Yard Services associated with the DDG 51-Class AEGIS Destroyer Program. The contract also includes an option for a second year of engineering services for $76 million.

Bath Iron Works, lead designer and builder of the DDG 51 AEGIS Destroyer, has a total of 14 DDG 51-Class Destroyers in its backlog, and has delivered 20 of the destroyers to the U.S. Navy to date.

Bath Iron Works of Bath, Maine, a leader in surface combatant design and construction, employs 6,500 people. General Dynamics, headquartered in Falls Church, Va., 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 - Wednesday, November 20, 2002
Press Contact: (207) 442-1149