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General Dynamics Awarded $7.1 Million for Continued Development of Advanced Crew-Served Weapon

CHARLOTTE, N.C. – General Dynamics Armament and Technical Products, a business unit of General Dynamics (NYSE: GD), received two increments totaling $7.1 million as part of a $63.8 million sole-source contract for the continued development of the XM307 Advanced Crew-Served Weapon (ACSW) system. This award, from the U.S. Army’s Product Manager Crew-Served Weapons and Tank-Automotive and Armaments Command – Armament Research, Development, and Engineering Center at Picatinny Arsenal, New Jersey, extends the scope of work through December 2004 and funds the continued maturation of the weapon, additional ammunition testing, and fire control improvements under the Advanced Technology Demonstration (ATD) contract.

The XM307 is an accurate, two-man portable weapon system. Its family of airburst and armor-piercing ammunition, combined with an advanced target acquisition fire control sight developed by Raytheon, make the weapon extremely effective against lightly armored vehicles and targets protected by barricades. The award increments were issued on Dec. 23, 2003 ($5.5 million) and Dec. 31, 2003 ($1.6 million).

General Dynamics Armament and Technical Products performs system integration and weapon development at its Burlington, Vt., facility. The family of ammunition is being developed by General Dynamics Ordnance and Tactical Systems in Marion, Ill.

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; 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 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, Va., employs approximately 67,600 people worldwide and had 2003 revenue of $16.6 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 - Monday, February 16, 2004
Press Contact: (704) 714-8014