General Dynamics Corporation (ticker: GD, exchange: NYSE)
News Release - Thursday, February 16, 2001

Contact: Gulfstream Corporate Communications
(912) 965-7372

Falls Church, Va. - General Dynamics (NYSE: GD) announced today the formation of General Dynamics Aviation Services, a new aircraft service organization committed to meeting the maintenance needs of a broad range of business jet operators. It will become part of the company's Aerospace group.

"The formation of General Dynamics Aviation Services strengthens General Dynamics' already strong commitment to growing our service business," said Bill Boisture, executive vice president of General Dynamics and head of the Aerospace group. "The extraordinary growth of business aviation over the past few years has created increased demand for maintenance and refurbishment services. Through Gulfstream Aircraft Services we have a dominant position in maintaining Gulfstream aircraft and we see tremendous growth potential in servicing other business jet aircraft."

The formation of General Dynamics Aviation Services is the latest expansion of the company's aircraft service business. A 1998 acquisition of K-C Aviation, which increased the completion capacity of Gulfstream, also brought a substantial maintenance, parts and refurbishment business. Last month, the agreement to acquire the Signature Regional Maintenance Centers in Dallas, Las Vegas, Minneapolis, and West Palm Beach was announced. With the acquisition now complete, and the formation of General Dynamics Aviation Services, a formidable presence in the business aircraft service market has been established.

"General Dynamics Aviation Services leverages the organizational strength and experience of our Gulfstream Aircraft Services organization and brings those advantages to a broader range of business aircraft owners," said Larry Flynn, president of the new organization. "By applying the customer-oriented approach to product support that made Gulfstream the number one rated service and support organization, General Dynamics Aviation Services will become a significant force in business aircraft maintenance."

As president of General Dynamics Aviation Services, Flynn will report to Boisture. Boisture also continues in his role as Gulfstream's president and chief operating officer. In addition, Flynn will continue his responsibilities as senior vice president, aircraft services for Gulfstream.

General Dynamics, headquartered in Falls Church, Va., has leading market positions in shipbuilding and marine systems, land and amphibious combat systems, information systems, and business aviation. The corporation employs approximately 46,000 people worldwide and anticipates 2001 sales of approximately $11.5 billion. More information about the company can be found at www.generaldynamics.com.

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