News Release

GULFSTREAM V-SP TEST ARTICLE MAKES FIRST FLIGHT FOUR WEEKS AHEAD OF SCHEDULE
GV-SP Prototype Completes Two-Hour Initial Flight to Check Operation of Basic Systems and the Advanced PlaneView® Cockpit

Savannah, Georgia, August 31, 2001 -- The ultra-long range Gulfstream V-SP prototype (test article T1) made its first flight this afternoon to conduct a series of tests on the airplane's basic systems with special emphasis on the GV-SP's revolutionary PlaneView® cockpit.

"This is a very proud moment for all of us at Gulfstream and especially for the GV-SP development team that accomplished this milestone four weeks ahead of schedule," said Bill Boisture, Gulfstream president and chief operating officer. "We've witnessed a number of significant firsts today including the first flight of the next generation of GV and the first real-world test of the most technologically advanced avionics suite in business aviation."

"Gulfstream performed extensive pre-flight work in preparation for this first flight," said Mike Mena, GV-SP program manager. "We convened a first flight readiness review board to evaluate the airplane and all of its systems. All systems checked out and we have begun flight testing."

The GV-SP flight crew of John O'Meara, pilot in command; Tom Horne, co-pilot, and Bill Osborne, flight test engineer, performed engine operational clearance tests throughout the flight envelope. After verifying valid engine and control-system responses, they climbed to 41,000 feet and reached the GV-SP's ultra-long range cruise speed of .80 Mach.

"The aircraft handled even better than we had anticipated. During the two-hour, six-minute flight, we conducted all scheduled tests successfully," said O'Meara.

The crew spent a significant portion of the flight testing the exclusive GV-SP PlaneView cockpit, the most advanced flight deck in commercial aviation. The initial flight also represented the first opportunity for pilots to test components of the PlaneView cockpit such as Honeywell's Visual Guidance System (HUD), Gulfstream's Signature Cursor-Control Device, and its revolutionary Enhanced Vision System.

"The GV-SP represents the next generation of the best business jet aircraft available today," said Pres Henne, senior vice president, programs. "In addition to its superior cockpit, the GV-SP offers improvements in performance, both in long range at high speeds and in shorter field length, and state-of-the-art advancements in safety features."

"The GV-SP's increased cabin volume affords a fourth living area, seats 16 passengers comfortably, and berths up to eight," said Boisture. "This is a significant advancement in passenger comfort."

In early September, the GV-SP test article will undergo further envelope clearance testing for the aerodynamic configuration. This involves flying at speeds up to .885 Mach, the airplane's maximum operating speed, and climbing to 51,000 feet, its maximum cruise altitude.

Certification of the GV-SP is scheduled for the fourth quarter of 2002.

NOTE TO EDITOR

Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE:GD), designs, develops, manufactures and markets the world's most technologically advanced intercontinental business jet aircraft. Gulfstream has produced more than 1,200 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 Shares®, Gulfstream Financial Services®, Gulfstream Lease®, Gulfstream Pre-Owned Aircraft Sales®, Gulfstream Charter Services®, Gulfstream Management Services® and Gulfstream ServiceCare®. The company employs more than 8,750 people at eight locations. We invite you to visit our Web site at www.gulfstream.com for photos of Gulfstream aircraft and related information.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 49,000 people and anticipates 2001 sales of approximately $11.5 billion. The company has leading market positions in business aviation, information systems, shipbuilding and marine systems, and land and amphibious combat systems. More information about the company can be found at www.generaldynamics.com.