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General Dynamics Receives $98.65 Million Order for 70mm Rockets

BURLINGTON, VT – General Dynamics Armament and Technical Products, a business unit of General Dynamics (NYSE: GD), has received a $98.6 million order from the U.S. Army Joint Munitions Command, Rock Island, Illinois, for the production of Hydra-70 2.75-inch (70mm) rockets, motors, and warheads for the U.S. Army, Navy and Air Force. This order extends deliveries through March 2006 on a contract awarded to General Dynamics in 1999. Total contract value to date is $833.8 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 70mm rocket system offers several warhead configurations that fulfill a wide range of special mission requirements to defeat soft to lightly-armored targets.

In February, the Army awarded General Dynamics a contract to add a precision guidance system to the 70mm rocket family as part of Block I development of the Advanced Precision Kill Weapon System (APKWS). In September, a 70mm guided rocket achieved a direct hit on a laser-designated stationary target three kilometers away during the first system design and development flight test.

System engineering and program management are performed at General Dynamics’ Burlington, Vermont Technology Center. Final assembly and component subassembly 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 64,600 people worldwide and estimates 2003 revenues of $15.5 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 - Thursday, October 9, 2003
Press Contact: (802) 657-6246