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General Dynamics Awarded $11 Million Contract For AVDS-1790 Engine Work

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), an $11 million firm-fixed price contract for 5,400 cylinder assemblies for the AVDS-1790 750-horsepower diesel engine. This competitive award is the first order against a 5-year agreement which, if fully exercised, would be for 23,193 cylinders at a value of $50 million.

General Dynamics Land Systems' Muskegon Operations in Muskegon, Mich., has produced the base cylinder assembly and the 750-horsepower diesel engine since 1960. These engines are used in M60 series tanks and M88A1 recovery vehicles. Deliveries will begin in August 2004 at a rate of 300 per month.

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 31, 2003
Press Contact: (586) 825-7980

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