News Release

GULFSTREAM ANNOUNCES CONSOLIDATION OF LEADERSHIP TEAM TO PREPARE FOR FUTURE GROWTH
Key Employees Are Recognized For Contributions to Success

• Senior management appointments include:
  Joe Lombardo, who has been with Gulfstream for six years, is appointed chief operating officer, responsible for operations and the day-to-day management of production, materials and completions. Operations has demonstrated significant improvements under Lombardo's leadership, and contributed directly to the company's growth in profitability.
• Larry Flynn, who joined Gulfstream in 1995, is named president, product support, responsible for all aspects of the worldwide product support provided to Gulfstream customers. Under Flynn's leadership, product support, formerly known as aircraft services, has become a major line of business for the company. Flynn also continues in his role as president, General Dynamics Aviation Services.
• Mark Burns, who joined the Gulfstream team in 1983, is appointed vice president, customers, responsible for completions center customer program management, the worldwide product support network and all aspects of customer support, including technical services. In this new position Burns will report to Larry Flynn. Burns was most recently responsible for the integration of the Gulfstream 100 and Gulfstream 200 aircraft and former Galaxy operation into Gulfstream.
• Ira Berman, who joined Gulfstream in 1997, has been named senior vice president, administration and general counsel. Berman will continue in his role as general counsel and assume responsibility for human resources, security and facilities.
• Dan Clare, with Gulfstream since 1998, is named senior vice president, finance and planning. Clare will be responsible for integrating the functions of financial operations, planning, business development and process improvement.
• Pres Henne has been named senior vice president, programs, engineering and test. Henne joined Gulfstream in 1994 and will now focus on multiple product development efforts, technology integration, engineering excellence and reliability improvement. Past accomplishments include the development of the Gulfstream V and most recently the Gulfstream V-SP, incorporating state-of-the-art technology such as the PlaneView™ cockpit and the revolutionary Gulfstream Enhanced Vision System (EVS).
• A new position, senior vice president, marketing and sales, has been developed and Gulfstream is currently engaged in candidate selections. The successful candidate will be based at the Gulfstream Sales and Design Center at Alliance Airport, Forth Worth, Texas., and will assume primary responsibility for leading the integration of the marketing and sales functions within Gulfstream. Until a candidate is selected, Boisture will act in this capacity.
• Judy Creese has been named vice president, sales support and general manager of the Alliance facility, reporting to the senior vice president, marketing and sales. Creese joined Gulfstream in 1996 and since relocating to Alliance played a key role in the integration of the Alliance operations. Her accomplishments have specifically included the development of financial controls and forecasting for the Gulfstream 100 and Gulfstream 200 product lines.
• Stephanie Snyder has been appointed vice president, marketing and communications. Also reporting to the senior vice president, marketing and sales, Snyder joined Gulfstream in early 1997 and has held progressively more responsible appointments in the marketing, communications and customer service areas. Since establishing a nationwide customer service team in 2000 and implementing and communicating new security procedures, Snyder has developed and organized a central in-house resource for consistently branded printed and interactive marketing materials.
• Bill Shira has been named to the new position of vice president, sales information. Based at the Alliance facility and reporting to the senior vice president, marketing and sales, Shira is responsible for all sales engineering and competitive intelligence functions. Shira joined Gulfstream in 1982 and his varied and in depth knowledge of the company and its products make him the perfect choice for this appointment.