General Dynamics Awarded $30 Million Contract Modification for Submarine Work

GROTON, Conn. – The U.S. Navy today awarded General Dynamics Electric Boat a $29.7 million contract modification for nuclear-submarine work. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the terms of the contract modification, Electric Boat will provide planning yard, engineering and technical support for nuclear submarines. Electric Boat will also provide design services to support the installation of configuration changes on submarines as well as the materials required for major alterations. Initially awarded in March 2004, the contract could be worth more than $1.1 billion over five years if all options are exercised and funded.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 84,000 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and critical-mission information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.