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General Dynamics Awarded $562 Million in Funding for Navy Destroyer

BATH, ME – The U.S. Navy today announced that Bath Iron Works, a General Dynamics company, will receive $562 million in funding to construct an ARLEIGH BURKE Class AEGIS guided missile destroyer. The ship was part of the Navy’s Fiscal Year 2002 – 2005 Multi-Year Procurement contract awarded to Bath Iron Works in September 2002. DDG 112, which has yet to be named, will be the 34th AEGIS destroyer to be built at Bath Iron Works. The shipyard expects to deliver the ship in 2010 in accordance with the requirements of the contract.

Bath Iron Works of Bath, Maine, is the lead designer and builder of the ARLEIGH BURKE Class and employs 6,300 people.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 71,600 people worldwide and anticipates 2004 revenue in excess of $19 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; 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, January 21, 2005
Press Contact: (207) 442-2072

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