NetJets Places Order with Gulfstream for 20 G450 and 20 G550 Business Jets

Released on Friday, June 20, 2008

FALLS CHURCH, Va. � Gulfstream Aerospace Corp., a wholly owned subsidiary of General Dynamics (NYSE: GD), has reached an agreement with NetJets to supply a total of 40 new Gulfstream aircraft. The agreement is valued at approximately $1.9 billion. Four Gulfstream G450s and four Gulfstream G550s will be delivered to NetJets each year from 2012 through 2016. This deal also includes a long-term maintenance support agreement.

NetJets has over 90 percent of the long-range cabin fractional market and is the largest operator of Gulfstream aircraft in the world. As of June 2008 NetJets' worldwide Gulfstream fleet totals 110 and is comprised of 21 Gulfstream G550/V, 55 Gulfstream G450/400/IV-SP and 34 Gulfstream G200s.

NetJets Inc., a Berkshire Hathaway company, is the worldwide leader in private aviation and provides the safest and most secure private aviation solutions. NetJets fractional aircraft ownership allows individuals and companies to buy a share of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours' notice. The NetJets programs worldwide offer the largest and most diversified fleet in private aviation, which includes 15 of the most popular business jets in the world.