GD Extends NNS Tender Offer

Monday, September 17, 2001
General Dynamics (NYSE: GD) extended its pending tender offer for all outstanding shares of common stock (including associated rights) of Newport News Shipbuilding Inc. (NYSE: NNS) to midnight, EDT, on September 21, 2001. The offer was previously scheduled to expire at midnight, EDT, on September 14, 2001. As of the close of business on September 14, 2001, approximately 15,994,698 shares of Newport News had been tendered. The lower number of shares tendered as of September 14 compared with the number tendered as of the prior scheduled expiration of the tender offer on August 31, 2001 is attributed to the closing of the U.S. financial markets, the interruption of deliveries to the General Dynamics depositary and other disruptions caused by the terrorist attacks of September 11, 2001.

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