General Dynamics Receives $11 Million Contract Modification for Nuclear Submarine Maintenance

GROTON, Conn. – The U. S. Navy has awarded an $11.4 million contract modification to General Dynamics Electric Boat to manage and support nuclear-maintenance work for submarines home ported at the Naval Submarine Base in Groton. The contract being modified was initially awarded in December 2005 and has a potential value of $65.7 million over three years. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the modification, Electric Boat will continue to operate the Nuclear Regional Maintenance Department (NRMD) at the submarine base through Sept. 30, 2008. The company will provide project management, planning, training and radiological-control services to support maintenance, modernization and repairs of operational submarines. A core group of about 25 Electric Boat employees is assigned to the NRMD.

Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD). General Dynamics, headquartered in Falls Church, Va., employs approximately 83,000 people worldwide, and expects 2007 revenues of approximately $27 billion. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies.