General Dynamics Awarded $325 Million for Virginia-Class Submarine Advance Procurement

General Dynamics Awarded $325 Million for Virginia-Class Submarine Advance Procurement

GROTON, Conn. – March 21, 2008 - The U.S. Navy has awarded General Dynamics Electric Boat a $324.9 million contract modification to buy long lead time material (LLTM) for the FY 09 Virginia-Class submarine, SSN-784 and the FY 11 submarine, SSN-787. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

The contract provides funding for steam and electrical plant components, main propulsion units and ships service turbine generator sets as well as miscellaneous hull, mechanical and electrical systems components for the two submarines.

Work will be performed in Groton, Conn., and Quonset Point, R.I. (7 percent); Newport News, Va. (7 percent); Sunnyvale and South El Monte, Calif. (50 percent); Coatesville, York and Cheswick, Penn., (5 percent); Linden, Philipsburg and Florence, N.J. (5 percent); and other sites in the U.S. (26 percent).

General Dynamics, headquartered in Falls Church, Va., employs approximately 83,500 people worldwide and reported 2007 revenues of $27.2 billion. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.