News Release

Gulfstream Rolls Out 500th Gulfstream IV and Introduces the Gulfstream G400
Savannah Production Line Poised to Manufacture Long-Range G400 and Mid-Range G300

SAVANNAH, Ga., Dec. 3, 2002 - Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), held ceremonies today to mark the production end of the GIV-series aircraft and the official start of production of two new models - the large-cabin, mid-range Gulfstream G300 and the large-cabin, long-range Gulfstream G400.

More than 3,000 Gulfstream employees, suppliers and guests gathered at the company's headquarters and business aircraft production facility in Savannah. Together, they witnessed the 500th and last Gulfstream IV, serial number 1499, as it was "rolled out" from the production hangar.

Addressing the gathering, Bill Boisture, Gulfstream president said, "For nearly 15 years, the GIV's forward-looking design, steadfast performance, industry-leading reliability and unparalleled comfort have made it the long-range aircraft of choice for customers around the world. It is the best-selling business aircraft in its class."

"The success of the GIV is a result of each of your individual efforts combined into one great achievement," he told the audience. "You designed it, you built it, you sold it and you serviced it. While there are hundreds of GIV owners around the world, the GIV will always be your plane.

Even with the proven success of the GIV-series aircraft, Gulfstream's manufacturing advancements continue to improve the quality and reliability of its products while reducing the time it takes to build them, according to Boisture.

"Now, with the production start of two new models, we can incorporate more efficient installation processes to yield even higher quality and more reliable aircraft than ever before," Boisture said. "And that increase in quality and reliability will mean lower operating expenses for our customers. The G400 and G300 will spend even less time in a service hangar and more time in the air."

The Gulfstream team has already started building aircraft serial number 1500, a G400, which will be delivered to its owner next year. Three planes later, at serial number 1503, the first G300 will move down the line. Both aircraft were introduced at this year's National Business Aviation Association's annual Meeting and Convention, held in Orlando, Fla., in September.

The Gulfstream G300 addresses an emerging market segment, one that requires a spacious cabin with standup headroom, generous aisle space and ample comfortable seating, but doesn't require long-range capability. With a maximum range of 3,600 nautical miles, the large-cabin, mid-range aircraft can fly up to 14 passengers at Mach .80 nonstop from Chicago to London. The aircraft, powered by two Rolls-Royce Tay engines, offers multiple cabin layouts and several preferred option packages.

The Gulfstream G400 is fully equipped and includes the industry-exclusive Gulfstream 5-year Maintenance and Training Package, a standard Head-up Display and state-of-the-art navigational equipment. The large-cabin, long-range aircraft can fly up to 14 passengers 4,100 nautical miles nonstop at speeds of up to .88 Mach. With the largest cabin in its class, the G400 allows for excellent onboard productivity and comfort and owners can choose to customize the aircraft interior to meet their individual needs.

"It's because of the GIV's unprecedented popularity that we've been able to increase our product line from one plane in 1994 to seven planes today," Boisture added. "The new G300 and G400 models are based on the GIV's proven design and provide an even greater choice in terms of non-stop range capability, outfitting, service and training for flight and maintenance crews."

Introduced in 1985, the large-cabin, long-range GIV is a holder of more than 70 world records, including both eastbound and westbound around-the-world speed records. The GIV has met the air transportation needs for corporations, governments, including heads of states, private individuals, and air charter companies around the world. Powered by two Rolls-Royce Tay engines, the GIV can fly up to 4,220 nautical miles at Mach .80 and with a take-off distance of 5,450 feet, the GIV can land in airports with runways too short to accommodate commercial aircraft. Additionally, the GIV, with a dispatch reliability rate of 99.66 percent, is the most dependable in its class.

Gulfstream introduced the "special performance" Gulfstream IV-SP (GIV-SP) in 1992. The enhanced aircraft featured increased takeoff and landing weight, which allowed for heavier payloads and more flexibility in outfitting. It also featured an enhanced landing package that included structural improvements to the landing gear, upgraded antilock brakes and new wheels and tires. The GIV-SP also included an extended service warranty.

 

NOTE TO EDITORS

Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), designs, develops, manufactures, markets, services and supports the world's most technologically advanced business jet aircraft. Gulfstream has produced more than 1,300 aircraft for customers around the world since 1958. To meet the diverse transportation needs of the future, Gulfstream offers a comprehensive fleet of aircraft, comprising the mid-cabin, high-speed Gulfstream G100®; the wide-cabin, high-speed Gulfstream G150®; the large-cabin, mid-range Gulfstream G200®; the large-cabin, mid-range Gulfstream G300®; the large-cabin, long-range Gulfstream G400®; the large-cabin, ultra-long-range Gulfstream G500® and the large-cabin, ultra-long-range Gulfstream G550®. Gulfstream also offers aircraft ownership services via Gulfstream Financial Services Division and Gulfstream Pre-Owned Aircraft Sales®. The company employs more than 7,800 people at eight major locations. We invite you to visit our Web site for more information and photos of Gulfstream aircraft at www.gulfstream.com.

General Dynamics, headquartered in Falls Church, Va., employs approximately 54,000 people worldwide and anticipates 2002 revenues of $14 billion. The company has leading market positions in land and amphibious combat systems, mission-critical information systems and technologies, shipbuilding and marine systems, and business aviation. More information about the company can be found on the World Wide Web at www.generaldynamics.com.