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General Dynamics Receives $68.8 Million Delivery Order for 2.75-inch Rockets

BURLINGTON, VT- General Dynamics Armament and Technical Products, a business unit of General Dynamics (NYSE: GD), has received a $68.8 million delivery order from the U.S. Army Joint Munitions Command, Rock Island, Ill., for the production of Hydra-70 2.75-inch rockets and motors for the U.S. Army and Navy. This order extends deliveries through August 2005 on a five-year contract awarded to General Dynamics in 1999. Total contract value to date is $663.6 million.

Hydra-70 is a widely-used weapon system because it is versatile, effective and affordable. The rockets can be fired from a variety of rotary and fixed-wing platforms, including the U.S. Army Apache and Marine Corps Cobra helicopters, the U.S. Air Force F-16 Fighting Falcon, and combat aircraft of many nations worldwide. The 2.75-inch rocket system offers several warhead configurations that fulfill a wide range of special mission requirements to defeat soft to lightly-armored targets.

General Dynamics was recently selected as the system integrator for Advanced Precision Kill Weapon System (APKWS), a family of guided and unguided 2.75-inch rockets that will include a series of block upgrades to the Hydra-70. In February 2003, General Dynamics was awarded the first $9 million increment on a separate $53.8 million contract to develop the Block I guided version of the Hydra-70 under the APKWS program. System engineering and program management are performed at General Dynamics’ Burlington, Vermont headquarters. Final assembly and component sub assembly are performed at General Dynamics’ Camden, Arkansas and McHenry, Mississippi facilities.

General Dynamics Armament and Technical Products provides a broad range of system solutions for military and commercial applications. The company designs, develops and produces high-performance armament systems; a full range of advanced composite-based products; biological and chemical detection systems; tactical deception equipment; and mobile shelter systems. More information about General Dynamics Armament and Technical Products can be found on the World Wide Web at www.gdatp.com.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 56,000 people worldwide and had 2002 revenues of $13.8 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, March 14, 2003
Press Contact: (802) 657-6246