NASSCO Awarded $300 Million Contract by TOTE to Build Two Commercial Ships for Alaskan Service December 6, 1999 -- SAN DIEGO, CA -- National Steel and Shipbuilding Company (NASSCO), a General Dynamics company (NYSE: GD), today announced that it has been awarded a $300-million contract from Totem Ocean Trailer Express, Inc. (TOTE) to build two roll-on, roll-off (RO/RO) ships for TOTE's Tacoma-to-Anchorage service. Engineering will begin immediately, with ship deliveries scheduled for April 1, 2002, and September 1, 2002. "NASSCO has created a superb design for these new ships, tailored to TOTE's unique route requirements," said Richard Vortmann, President of NASSCO. "Our winning design, combined with continuing productivity improvements and the consistently high production quality NASSCO has demonstrated on the strategic sealift ships we are building for the U.S. Navy, were the major factors in winning this contract." The new ships will be 839 feet long and have a beam of 118 feet. Cargo decks will be 360,000 square feet and will be able to carry up to 600 cargo trailers and 200 autos. NASSCO is the only West Coast shipyard capable of building and repairing large, ocean-going vessels for the Navy and commercial customers. The shipyard employs approximately 3,500 people. More information on NASSCO can be obtained from the company's Web site at www.nassco.com. Totem Ocean Trailer Express, Inc. (TOTE), is a privately owned Alaska corporation operating a Roll-on/Roll-off (Ro/Ro) cargo steamship service to Alaska between the ports of Anchorage and Tacoma, WA. More information on TOTE can be obtained from the company's Web site at www.totemocean.com.

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