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GENERAL DYNAMICS OFFERS INNOVATIVE OFFSET PROPOSAL TO THE UNITED ARAB EMIRATES

 STERLING HEIGHTS, Mich., Jan. 6 /PRNewswire/ -- General Dynamics (NYSE: GD) has offered the United Arab Emirates (UAE) an innovative economic offset program which would be linked to that country's selection of the M1A2 Abrams main battle tank in a competition in progress.
 The M1A2, manufactured by General Dynamics' Land Systems Division, is a leading contender to become the UAE's main battle tank.
 Land Systems' offset program is designed to meet the UAE's objectives of in-country industrial diversification. The program would integrate General Dynamics' corporate business network and an international venture capital firm into a team that would offer the UAE a broad range of commercial opportunities. The international partner would create a venture capital firm in the UAE, among the first such enterprises dedicated to offsetting military systems sales by creating new businesses in a customer country.
 The program would be managed by a U.S.-based holding company which would ensure that every investment meets rigorous legal and financial guidelines and is in accordance with the laws of the U.S., UAE and any other involved nation.
 The General Dynamics Abrams industrial team, which includes all major M1A2 suppliers and subcontractors, is committed to this offset proposal. The team has identified a number of commercial investments that could benefit from management by members of the team. The program would develop business capabilities in the UAE without transferring jobs or critical military technology from the U.S.
 The Abrams MBT has proven to be the best main battle tank in the world. The M1A2 has already been ordered by the Kingdom of Saudi Arabia and Kuwait, while the government of Egypt is coproducing the M1A1. The Abrams is an affordable tank for the UAE that offers commonality and interoperability benefits with the U.S. Army and the land forces of the other Gulf countries. Additionally, the U.S. government and the U.S. Abrams tank industrial base contractors provide the world's greatest integrated tank support capability.
 "The Abrams Team has worked very closely to develop an integrated M1A2 offset proposal to meet the objectives of the UAE," said George P. Psihas, president of General Dynamics Land Systems Division and vice president of General Dynamics Corporation. "We are excited about this very important program and look forward to entering a business relationship with UAE investors."
 Land Systems builds the M1A2 Abrams main battle tank and is a leading producer of armored combat vehicles and associated support systems.
 -0- 1/6/93
 /CONTACT: Karl G. Oskoian of General Dynamics, 313-825-7980/
 (GD)


CO: General Dynamics ST: Michigan IN: ARO SU:

DH -- DE028 -- 2238 01/06/93 13:42 EST
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Publication:PR Newswire
Date:Jan 6, 1993
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