NASSCO Holds Start-of-Construction Ceremony for Fourth Double-Hull Oil Tanker for BP October 14, 2004 -- SAN DIEGO, CA -- National Steel and Shipbuilding Company (NASSCO), a wholly owned subsidiary of General Dynamics (NYSE: GD), today held a start-of-construction ceremony for NASSCO Hull 487, the fourth of four Alaska Class, double-hull oil tankers being constructed for BP Oil Shipping Company, USA. BP’s Site Team Member Richard Blaine activated a robotic welding machine and cut the first piece of steel for the new ship. “These double-hull tankers are among the most environmentally friendly ships ever built, incorporating the latest in tanker design and construction,” said Richard Vortmann, president of NASSCO. “They will provide BP with the best available technology to protect US waters.” Vortmann said the design of the four 1.3-million-barrel-capacity tankers in the Alaska Class will allow maximum flexibility for oil deliveries to West Coast ports, including BP refineries in Los Angeles and Cherry Point, WA. Vortmann added that NASSCO is continuing to hire people to fill hundreds of positions that remain available for this and other shipbuilding programs in the company’s 10-ship backlog. The first ship, the Alaskan Frontier, was delivered to BP on August 11. On July 2, the second ship was floated out of NASSCO’s graving dock following structural erection and its fitting out continues pierside. The third ship is under construction in the graving dock. The second, third and fourth ships are to be delivered in 2005 and 2006. General Dynamics, headquartered in Falls Church, Virginia, employs approximately 69,400 people worldwide and anticipates 2004 revenue of $19 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and business aviation. More information about the company is available on the Internet at www.generaldynamics.com.

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