News Release

GULFSTREAM APPOINTS JET AVIATION AS AUTHORIZED SERVICE CENTER IN EUROPE
Places $1 Million in Spare Parts to Support Fleet in Europe

Geneva, Switzerland, May 27, 2002 - Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), today announced that Jet Aviation Management AG has been appointed as an authorized Gulfstream service center and warranty repair facility for the two most recent additions to the Gulfstream fleet, the mid-size Gulfstream 100 and the super mid-size Gulfstream 200.

The agreement calls for Jet Aviation to maintain a European Spares Center in Dusseldorf, Germany, for the Gulfstream 100 and the Gulfstream 200. It is estimated the initial provisioning of spares at the Dusseldorf center will be in the order of $1 million.

In addition, Jet Aviation facilities in Hanover, Germany and in Singapore have been appointed as service centers for the G100 and G200, while the facility in Geneva, Switzerland, is appointed as a service center for the G200. Singapore is also designated as the Asia/Pacific Rim Spares Center.

All Jet Aviation service centers working on Gulfstream aircraft will be required to achieve both Joint Aviation Authority (JAA) and Federal Aviation Administration (FAA) Repair Station approvals as a condition of the agreement.

Jet Aviation has been an authorized service center for Gulfstream business jet aircraft since 1996, while the relationship between the two companies spans more than two decades.

"We are very pleased to have Jet Aviation as part of our worldwide product support network," said Bill Boisture, president, Gulfstream Aerospace. " They have performed excellent work on our fleet of larger business jet aircraft, including the long range GIV/GIV-SP and the ultra long-range GV. With the addition of the G100 and G200, customers based in Europe, or transiting through Europe, can be assured of Gulfstream's award-winning product support."

Jet Aviation also operates service centers for Gulfstream business jets in Basel, Switzerland, and Jeddah, Saudi Arabia.

 

NOTE TO EDITORS

Gulfstream Aerospace Corporation designs, develops, manufactures, markets and services the world's most technologically advanced business jet aircraft. Gulfstream has produced more than 1,300 aircraft for customers around the world since 1958. To meet the aviation needs of its customers, Gulfstream offers a full range of aircraft products and services, including the Gulfstream 100®, Gulfstream 200®, Gulfstream IV-SP®, the ultra-long range Gulfstream V® and Gulfstream V-SP®, Gulfstream Financial Services Division and Gulfstream Pre-Owned Aircraft Sales®. The company employs more than 7,800 people at eight 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 52,000 people worldwide and had 2001 revenues of $12 billion. The company has leading market positions in land and amphibious combat systems, mission-critical information systems and technologies, shipbuilding and marine systems, and business aviation. More information about the company can be found on the World Wide Web at www.generaldynamics.com.