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Military

General Dynamics Awarded $32 Million For Virginia-Class Long-Lead Material

GROTON, Conn. – The U.S. Navy has awarded General Dynamics’ Electric Boat $32 million in material orders for the purchase of long-lead material for Virginia-Class submarine spare parts and systems. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the terms of the agreement, Electric Boat will purchase the materials required for spare components and ships’ service turbine-generator and main-propulsion units. The material orders are part of a contract initially awarded in March 2004; if all options are exercised and funded, the contract could be worth more than $1.1 billion over five years. The work is expected to be completed by March 2009.

General Dynamics, headquartered in Falls Church, Va., employs approximately 81,000 people worldwide and had 2006 revenues of $24.1 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. More information about the company is available online at www.generaldynamics.com.

April 19, 2007
Contact: Robert A. Hamilton
Tel: (860) 433-8556
Email: rhamilton@ebmail.gdeb.com



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