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General Dynamics Awarded $5 Million Ammunition Contract

ST. PETERSBURG, Fla. – General Dynamics Ordnance and Tactical Systems, a business unit of General Dynamics (NYSE: GD), announced today that the Department of the Army - Headquarters, TACOM-ARDEC, Picatinny Arsenal, N.J., has awarded the company a sole-source contract with a potential value of $5 million to produce 40mm M1001 cartridges. This procurement represents the first production contract for the M1001 cartridge.

The M1001 was designed, developed, and type classified by General Dynamics Ordnance and Tactical Systems in April 2001 under a contract managed by the Product Manager Small Arms (PMSA) as part of the Soldier Enhancement Program (SEP). The M1001 is a high-velocity round used in the Mk-19 Grenade Launcher. The primary end-user for the M1001 cartridge, the U.S. Army Military Police, will use the 40mm round for combat patrol operations, counter intrusion, and perimeter defense.

Work will be performed at General Dynamics’ Marion, Ill., and Red Lion, Penn., facilities, and at the U.S. Army’s Milan Army Ammunition Plant in Milan, Tenn., and is expected to be completed by December 2004.

General Dynamics Ordnance and Tactical Systems manufactures large- and medium-caliber ammunition and precision metal components; provides explosive load, assemble and pack services for a variety of tactical missile and rocket programs; and designs and produces shaped charge warheads and control actuator systems.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 57,000 people worldwide and anticipates 2003 revenues of $15 billion. The company has leading market positions in mission-critical information systems and technologies, land and amphibious combat systems, 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 - Thursday, July 17, 2003
Press Contact: (727) 578-8144