News Release

GULFSTREAM SCHEDULES AUGUST 8 ROLLOUT FOR THE GV-SP TEST ARTICLE
GV-SP Development Program Proceeding on Schedule; Airplane Set for Fourth Quarter First Flight

Paris, France, June 17, 2001 - Development of the Gulfstream V-SP is proceeding on schedule, and Gulfstream officials are planning an August 8 rollout for the GV-SP test article. Flight testing will begin in the fourth quarter of this year.

Engineers and technicians have successfully installed the exclusive PlaneView cockpit in the test article and have begun preliminary tests on the wiring and software. Work on the test aircraft's avionics suite has progressed so well that electrical power in the aircraft was turned on two days ahead of schedule. Drag modifications also were installed on the airplane.

"Development of the Gulfstream V-SP is on track," said Pres Henne, Gulfstream's senior vice president, programs. "The program was excellently planned, well budgeted and adequately staffed. I'm extremely encouraged by the progress we're making."

The Gulfstream V-SP's exclusive PlaneView™ cockpit integrates features that include a Honeywell Visual Guidance System (VGS), Gulfstream's revolutionary Enhanced Vision System (EVS), Gulfstream's signature cursor control device and Honeywell's Primus Epic flight instrumentation suite. The integrated system of advanced avionics provides pilots with real-time information about airports, weather, air traffic and terrain, all displayed on four large landscape, flat screen monitors. The advancements greatly improve situational awareness for pilots and provide instant access to information necessary to make safe flying decisions in adverse or low-visibility conditions.

The four 14-inch liquid crystal displays provide an extraordinary variety of information to the pilot, including up-linked satellite weather, graphics flight planning and radio tuning, and moving map displays with terrain and territorial boundaries. The displays also show airport symbols, runway orientation, and departure and approach procedures. The displays are menu-driven and directed by a side-mounted, Gulfstream Signature cursor control device.

The Gulfstream V-SP will offer a range of 6,750 nautical miles: a 250-mile improvement over the current Gulfstream V. The difference in range provides an extra margin of performance, not only on ultra-long-range flights, but also on shorter-range, higher-speed missions. The GV-SP will be capable of flying 5,000 nm at .87 Mach - a 400-mile advantage over the GV - and 6,000 nm at .85 Mach, a 300-mile advantage.

Improved takeoff performance, providing greater access to more airports, is the result of greater efficiency of the Rolls-Royce BR-710 engines, less drag and a reduction in the aircraft's empty weight.

"The Gulfstream V-SP program represents the most successful new product launch in our company history," said Bill Boisture, Gulfstream president and chief operating officer. "To date, Gulfstream has received 42 orders for GV-SP aircraft. FAA certification is expected in late 2002, and the first deliveries are scheduled for 2003," Boisture continued.

NOTE TO EDITOR

Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE:GD), designs, develops, manufactures and markets the world's most technologically advanced intercontinental business jet aircraft. Gulfstream has produced more than 1,200 aircraft for customers around the world since 1958. To meet the aviation needs of its customers, Gulfstream offers a full range of aircraft products and services, including the Gulfstream 100®, Gulfstream 200®, Gulfstream IV-SP®, the ultra-long range Gulfstream V® and Gulfstream V-SP®, Gulfstream Shares®, Gulfstream Financial Services®, Gulfstream Lease®, Gulfstream Pre-Owned Aircraft Sales®, Gulfstream Charter Services®, Gulfstream Management Services® and Gulfstream ServiceCare®. The company employs more than 8,750 people at seven locations. We invite you to visit our Web site at www.gulfstream.com for photos of Gulfstream aircraft and related information.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 47,000 people and anticipates 2001 sales of approximately $11.5 billion. The company has leading market positions in business aviation, information systems, shipbuilding and marine systems, and land and amphibious combat systems. More information about the company can be found at www.generaldynamics.com.