News Release

AIR CHINA TAKES DELIVERY OF GULFSTREAM GIV
Minimum One-Year Lease Includes Purchase Option for New G200™, G300™ or G400™

SAVANNAH, Ga., Oct. 7, 2003 -- Gulfstream Aerospace, a wholly owned subsidiary of General Dynamics (NYSE: GD), today officially delivered a large-cabin, long-range Gulfstream IV aircraft to Air China. The ceremonial delivery took place at the National Business Aviation Association (NBAA) 2003 Conference and Exhibition, being held in Orlando, Florida, October 6 – 9, 2003.

As previously announced on May 15, 2003 the aircraft will be operated by CNAC and will inaugurate its new VIP Business Charter Service. The GIV will be the first business jet to be operated by Air China Business Jet, a new wholly owned subsidiary of CNAC. It will also be the first large-cabin Gulfstream in China – a considerable milestone for Gulfstream Aerospace.

"We are delighted to have the Gulfstream GIV join our VIP and Charter operation," said CNAC Vice President Zhang Fu Gui. "We examined a number of aircraft to determine which would best meet our requirements. We were impressed not only with the GIV’s proven record, but also with Gulfstream’s commitment to product support."

As part of the minimum one-year lease, Air China will have the option to purchase a new large-cabin, long-range Gulfstream G400 or a large-cabin, mid-range Gulfstream G200 or Gulfstream G300 before the lease expires.

"I have long been a firm believer in the immense potential which the Chinese market represents," said Bryan Moss, president, Gulfstream. "We’re confident that the GIV, with its long-range capability, comfort and proven reliability, will serve Air China and its customers well.

This agreement with Air China confirms our commitment to providing the Asian market with aircraft that better suit their transportation requirements and are affordable alternatives to commercial-size aircraft," he added. Initial flight crew and mechanics training has been completed at FlightSafety International facilities in Savannah.

The GIV is the world’s best-selling, most reliable, large-cabin, long-range business aircraft. A holder of more than 70 world aviation records, the GIV can fly 4,220 nautical miles non-stop, cruise at speeds up to Mach 0.88 and reach altitudes of 45,000 feet, well above commercial traffic. Since the aircraft was brought to the market in 1985, 500 GIV-series aircraft have been manufactured and to date the fleet has completed more than 1.85 million flight hours and 950,000 landings, with a dispatch reliability rate of over 99.6 percent.

In addition to providing air transportation for international corporations and air charter companies, governments throughout the world use the GIV to transport high-ranking officials, including presidents and heads of state, and to conduct airborne research and reconnaissance. Currently, a GIV serves as a "hurricane tracker" for the U.S. National Oceanic and Atmospheric Administration.

NOTE TO EDITORS

Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), designs, develops, manufactures, markets, services and supports the world’s most technologically advanced business jet aircraft. Gulfstream has produced more than 1,400 aircraft for customers around the world since 1958. To meet the diverse transportation needs of the future, Gulfstream offers a comprehensive fleet of aircraft, comprising the mid-cabin, high-speed Gulfstream G100™; the wide-cabin, high-speed Gulfstream G150™; the large-cabin, mid-range Gulfstream G200™; the large-cabin, mid-range Gulfstream G300™; the large-cabin, long-range Gulfstream G400™; the large-cabin, ultra-long-range Gulfstream G500™ and the large-cabin, ultra-long-range Gulfstream G550™. Gulfstream also offers aircraft ownership services via Gulfstream Financial Services Division and Gulfstream Pre-Owned Aircraft Sales®. The company employs more than 6,750 people at seven major locations. We invite you to visit our Web site for more information and photos of Gulfstream aircraft at www.gulfstream.com.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 64,600 people worldwide and estimates 2003 revenues of $15.5 billion. The company has leading market positions in mission-critical information systems and technologies, land and amphibious combat systems, shipbuilding and marine systems, and business aviation. More information about the company can be found on the World Wide Web at www.generaldynamics.com.