NASSCO Wins $68 Million Continuous Maintenance Contract for DD-963s and CG-47s October 27, 2000 -- SAN DIEGO, CA -- National Steel and Shipbuilding Company (NASSCO), a wholly owned subsidiary of General Dynamics, (NYSE: GD), today announced that it has received a contract from the U.S. Navy for continuous maintenance of the DD-963 and CG-47 ships homeported in San Diego. The contract, including the initial year and four one-year options, has an approximate value of $68 million dollars. There are four DD-963 and six CG-47 San Diego-based ships covered in the five-year contract. Advanced planning activities will start immediately to support repair and maintenance availabilities beginning in January 2001. The DD-963 destroyers were developed for the primary mission of anti-submarine warfare, including operating as an integral part of the battle group. Utilizing highly developed weapons systems, the DD-963 is designed to hunt down and destroy high-speed submarines, and can be used to engage ships, aircraft, and for land attack. CG-47 guided missile cruisers are capable of sustained combat operations in any combination of anti-air, anti-submarine, anti-surface, and strike warfare environments. These multi-mission ships are built to be employed in support of carrier battle groups and amphibious assault groups. "NASSCO is one of the leading repair yards on the West Coast and has completed successful maintenance availabilities of surface combatants in the past," said Richard Vortmann, President of NASSCO. "Since 1980, we have completed over 200 ship repair availabilities for the Navy in San Diego across all classes of surface ships. With the extensive ship repair infrastructure we have in place today, we now have the capability to repair all San Diego-based ships in their homeport. Homeport maintenance and repair has been a goal of the Navy in recent years because of the benefits it provides to sailors and their families," Vortmann added. NASSCO (www.nassco.com.) 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 3,000 people. General Dynamics (www.generaldynamics.com) of Falls Church, Virginia, has leading market positions in shipbuilding and marine systems, land and amphibious combat systems, information systems, and business aviation. The corporation employs approximately 44,000 people and has annualized sales of approximately $10 billion.

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