Gulfstream IV-SP - the World's Best Selling Large Cabin Business Aircraft On Display at NBAA '99.

ATLANTA--(BUSINESS WIRE)--Oct. 11, 1999--

Gulfstream Aerospace Corporation will display the Gulfstream IV-SP, the world's best-selling, most reliable, large cabin business aircraft, at the NBAA `99 convention here in Atlanta. There are over 350 Gulfstream IV and IV-SPs in service today.

The Gulfstream IV-SP travels 4,220 nautical miles non-stop at speeds up to Mach 0.88 and can cruise at altitudes up to 45,000 feet, well above commercial traffic. Since the aircraft was brought to market in 1985, Gulfstream IVs and the Gulfstream IV-SPs have completed over 1.1 million flight hours and completed over 583,000 landings. The Gulfstream IV-SP offers an impressive dispatch reliability of 99.7%.

"The success of the Gulfstream IV-SP is indicative of the trademark `technology that works', performance, reliability and craftsmanship that have made it the leader in the large cabin market," said Joe Walker, senior vice president of sales and marketing for Gulfstream.

The Gulfstream Shares program, through a joint program with Executive Jet International (EJI), now in its fourth year, allows customers to purchase one-half, one-quarter or one-eighth shares in the long range Gulfstream IV-SP or the ultra-long range Gulfstream V. Currently there are 23 Gulfstream IV-SP aircraft being operated by Shares customers worldwide. The first Gulfstream V will enter Shares service in the third quarter 2000. This excellent program offers customers which have limited air travel requirements the world's most prestigious business aircraft.

In the Middle East market, Gulfstream is delivering the first Gulfstream IV-SP aircraft to National Air Services (NAS) for the new Middle East Shares program. The interior outfitting of the Middle East Shares program GIV-SP aircraft was completed at Gulfstream's Dallas, Texas facility. This aircraft is the first of 12 aircraft to be delivered into the Middle-East Shares program, and will join a Gulfstream supplied GIV core fleet aircraft already in the Middle East operation. The GIV is currently being used by NAS to generate business in the Middle East and European regions through demo operations and selected city static displays. A second new GIV-SP aircraft and an additional core fleet GIV aircraft are also scheduled to be in service with NAS before year end. Deliveries of NAS GIV-SP aircraft will continue through 2003.

"Continuing to be the first of its kind in its region, the NAS Middle East Shares program is designed to meet the growing need for private large cabin aircraft ownership," said Walker. "The introduction of the first Gulfstream IV-SP into the NAS Middle East Shares program fleet emphasizes Gulfstream's dedication to providing transportation alternatives to customers around the world."

Gulfstream Aerospace Corporation is the leading designer, developer, manufacturer and marketer of the world's most technologically advanced intercontinental business jet aircraft. The company has produced more than 1,000 aircraft for customers around the world since 1958. Gulfstream offers a full range of aircraft products and services to meet the aviation needs of its customers, including the Gulfstream IV-SP(R), the ultra-long range Gulfstream V(R), Gulfstream Shares(R), Gulfstream Financial Services, Gulfstream Lease(SM), Gulfstream Pre-Owned Aircraft Sales(TM), Gulfstream Charter Services(R), Gulfstream Management Services(SM) and Gulfstream ServiceCare(R). In 1998, Gulfstream reported revenues of $2.4 billion. The company employs more than 8,000 people at eight locations.

Gulfstream is a wholly-owned subsidiary of General Dynamics (NYSE:GD), which is headquartered in Falls Church, Virginia. General Dynamics has leading market positions in shipbuilding and marine systems, land and amphibious combat systems, information systems, and business aviation. The corporation employs approximately 44,000 people worldwide and has annualized sales of approximately $10 billion. More information about the company can be found at www.generaldynamics.com.