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U.S. Army Awards General Dynamics $23 Million in Combat Vehicle-Related Contracts

STERLING HEIGHTS, Mich. – The U.S. Army TACOM Lifecycle Management Command has awarded General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), two contracts valued at $23 million for work related to the Stryker combat vehicle and the Abrams tank system. Vehicle support, resets and upgrades are a continuing portion of General Dynamics combat systems-related business.

General Dynamics Land Systems was awarded a $17.4 million contract modification for logistics support for Stryker Brigade Combat Teams. Contractor logistics support includes ordering spare parts, managing a spare parts warehouse, worldwide distribution of repair parts and completing maintenance services on Stryker wheeled combat vehicles at U.S. Army garrisons and overseas bases. Work will be performed by existing General Dynamics employees in Sterling Heights, Mich.; Auburn, Wash.; and London, Ontario; and is expected to be complete by Dec. 31, 2005.

General Dynamics Land Systems was also awarded a $5.5 million modification to an existing contract for Abrams tank systems technical support (STS). STS funds engineering studies and investigations on Abrams tanks with the purpose of identifying improvements and changing obsolete parts, while keeping Abrams tanks current to their base configuration. The STS program’s objective is to maintain Abrams tanks at high operational readiness rates. Work will be performed in Kuwait by existing General Dynamics employees and is expected to be complete by July 31, 2006. This modification is part of a contract initially awarded in November 2001 and brings the cumulative value to $685 million.

General Dynamics, headquartered in Falls Church, Va., employs approximately 70,800 people worldwide and had 2004 revenue of $19.2 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 - Tuesday, July 26, 2005
Press Contact: (586) 825-4610