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General Dynamics Awarded $37 Million PIRANHA Vehicle Contract from Ireland

FALLS CHURCH, Va. – MOWAG GmbH, a part of General Dynamics European Land Combat Systems, has signed an agreement valued at approximately $37 million (€30 million) with the Irish Department of Defence (DoD) for 15 PIRANHA 8x8 combat vehicles. This order introduces two new weapons variants to the Irish DoD’s fleet and brings the total number of PIRANHA vehicles operated by the Irish DoD to 80. General Dynamics European Land Combat Systems is a business unit of General Dynamics (NYSE: GD).

Nine of the 15 PIRANHA vehicles ordered will be equipped with a remotely controlled and stabilized 12.7 mm Kongsberg weapon station, and six will be equipped with a stabilized Otomelara 30 mm weapon system.

The PIRANHA is a technically advanced, 8x8 wheeled combat vehicle that provides a high level of protection against mines and ballistic weapons, and increased mobility with its height-adjustable hydro-pneumatic suspension system.

The Irish DoD initially selected the PIRANHA for its overseas peacekeeping missions in 1999; an additional order was received in 2002.

“With this third order, the Irish Army continues to trust in the PIRANHA’s reliability and proven performance,” said Simon T. Honess, chief executive officer of MOWAG. "PIRANHA fulfills the high-ranking requirements for protection, mobility, and mission flexibility.”

Production will occur at MOWAG’s facility in Kreuzlingen, Switzerland, and deliveries will start in February 2007.

MOWAG GmbH of Kreuzlingen, Switzerland, develops, designs and manufactures technologically advanced special vehicles for military use. More than 12,000 armored wheeled vehicles of the MOWAG PIRANHA, MOWAG EAGLE, and MOWAG DURO series are fielded all over the world. MOWAG employs more than 500 people at its Kreuzlingen location. More information can be found at www.mowag.ch.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 72,200 people worldwide and had 2005 revenue of $21.2 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 - Friday, January 27, 2006
Press Contact: (703) 876-3199



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