News Release

GULFSTREAM REDUCES PRICES ON 2,700 ADDITIONAL PARTS
Prices on More than 7,000 Parts Have Been Reduced Since 2002

SAVANNAH, Ga., Oct. 11, 2004 – Gulfstream Aerospace, a wholly owned subsidiary of General Dynamics (NYSE: GD), will be reducing prices on 2,700 spare parts before the end of this month. This is in addition to the 7,000 spare parts on which Gulfstream has already reduced prices since April 2002.

Spare parts for all Gulfstream aircraft models – G550, G500, G400, G300, G200, G100, GV, GIV/GIV-SP, GIII, GII, and Astra – are included in the price reductions.

“Our customers have spoken and we continue to take action to bring down parts prices,” said Larry Flynn, president, product support, Gulfstream. “By far, this is the largest single one-time price reduction on space parts that we've ever implemented.”

Gulfstream's new price reductions apply to common types of parts such as tires, wheels, washers, and light bulbs, and to less common parts such as actuators, windows and windshields. In addition to reducing the price of parts, Gulfstream includes a one-year or 1,000-hour warranty, whichever comes first, on every part sold.

“This recent round of price reductions is a result of our ongoing commitment to offer the most reliable parts at extremely competitive prices,” added Flynn.

Earlier this year, Gulfstream initiated “Meet the Quote,” a competitive price-matching campaign, which has been extended to the end of this year.  Under the terms of the program, a customer submits to Gulfstream a current competitive quote on a specific part. If that part is priced lower than Gulfstream's price for the same part comparable in condition, age and warranty terms, Gulfstream matches the price of the part. 

Gulfstream spare-parts customers use a single point of contact, 1-800-810-GULF

(1-800-810-4853; international customers can call +1 912-965-4178), for information and to order parts. Available 24 hours a day, 365 days a year, Gulfstream's experienced spare-parts sales representatives ensure parts are shipped in the most expeditious manner.

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 G350™; the large-cabin, long-range G450™; 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 70,000 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 can be found at www.generaldynamics.com.