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GENERAL DYNAMICS' BOARD OF DIRECTORS DECLARES: $18 PER SHARE SPECIAL DISTRIBUTION, 40 CENT PER SHARE REGULAR DIVIDEND

 FALLS CHURCH, Va., June 2 /PRNewswire/ -- The board of directors of General Dynamics Corporation (NYSE: GD) today declared a special distribution of $18 per share on the company's common stock. The special distribution is payable July 12, 1993, to shareholders of record June 21, 1993. The special distribution is the second such payment made to shareholders under the Plan of Contraction adopted by the board in May 1992. The first special distribution was $20 per share paid in April 1993.
 Board Chairman William A. Anders said: "We remain firm in the belief that returning funds in excess of our financial and reinvestment needs directly to our investors represents the most efficient way to convert excess defense assets to productive non-defense uses. Including today's board action, since Jan. 1, 1991, General Dynamics has returned approximately $3 billion to its lenders and shareholders for them to reinvest in America for growth, new jobs and a stronger international competitive edge for our nation."
 In a separate action, the board of directors also declared the regular quarterly dividend of 40 cents per share on the company's common stock. The regular dividend is payable Aug. 13, 1993, to shareholders of record July 16, 1993. As of May 2, 1993, General Dynamics had 31 million shares outstanding.
 -0- 6/2/93
 /CONTACT: Alvin A. Spivak of General Dynamics, 703-876-3190/
 (GD)


CO: General Dynamics Corporation ST: Virginia IN: ARO SU: DIV

DC-KD -- DC039 -- 4631 06/02/93 17:03 EDT
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Publication:PR Newswire
Date:Jun 2, 1993
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