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U.S. Army Awards General Dynamics $31 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 $31.4 million for work related to the Abrams tank system and the Stryker combat vehicle.

The first award was a $25 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 here by existing General Dynamics employees and is expected to be complete by July 30, 2006. This modification is part of a contract initially awarded in November 2001 and brings the cumulative value to $710 million.

General Dynamics Land Systems was also awarded a $6.4 million contract modification for field service repair support to Stryker Brigade Combat Teams. Work will be performed by existing General Dynamics employees. Activities include parts procurement, labor and physical repair and should be complete by Sept. 30, 2006.

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, September 27, 2005
Press Contact: (586) 825-4610