Press Release

Issued by Gulfstream Aerospace Corporation.

August 14, 2008

SAVANNAH, Ga., August 14, 2008 – Fifty years ago today, Grumman Aerospace test pilots Carl Alber and Fred Rowley took the first Gulfstream aircraft – the Gulfstream I or GI – on its maiden flight. The GI, a twin-engine turboprop, was the first aircraft specifically designed for business travel.

The GI, with Alber and Rowley at the controls and fellow Grumman pilot Bob Smyth following behind in an F8F Bearcat, flew over Bethpage, N.Y., where Grumman Aerospace was based.

Following that flight, the GI underwent about 800 hours of additional testing and received Federal Aviation Administration (FAA) certification on May 21, 1959.  Soon after, Grumman delivered the first GI to Sinclair Oil. While the GI was designed specifically for business travel, it also saw service with five U.S. government agencies and all branches of the armed forces. When Grumman was selected by the National Aeronautics and Space Administration (NASA) to produce the Lunar Module, a GI was outfitted with a cargo door to help transport some of the assemblies. The FAA acquired its first GI in June 1959.

Production of the GI ended 10 years later, when Grumman delivered the 200th aircraft in 1969. Approximately one-third of the 200 GI aircraft Grumman built are still flying today. They are registered in some 15 countries, including the United States, Canada, Mexico, Brazil, France, Indonesia, Turkey, Panama and South Africa.

The GI accommodates 12 passengers comfortably and has a maximum speed of 350 mph at 35,000 feet. Powered by two Rolls-Royce Dart engines, the aircraft has a range of 2,500 miles. Customer input played an important role in the aircraft's design, prompting Grumman to build a low-wing platform instead of retaining the high-wing design of the company's previous aircraft. Customers also wanted ample visibility, which led Grumman to develop the large, 26-inch-wide oval window that has become the Gulfstream trademark.

The GI laid the foundation for the future family of Gulfstream aircraft. Today, Gulfstream Aerospace, the company that evolved out of Grumman Aerospace and is now a wholly owned subsidiary of General Dynamics, has manufactured more than 1,800 aircraft and offers seven business jets at various prices and performance points: the G650, G550, G500, G450, G350, G200 and G150.

"The creation of the GI would not have been possible 50 years ago without the dedicated and innovative people working at Grumman Aerospace," said Joe Lombardo, president, Gulfstream. "Fifty years later, our employees still make the difference in manufacturing the safest, most reliable and most technologically advanced business jets in the world."

On March 13, 2008, Gulfstream introduced a new addition to its product line: the all-new Gulfstream G650. The G650 offers the longest range, fastest speed, largest cabin and the most advanced cockpit in the Gulfstream fleet. It is capable of traveling 7,000 nautical miles at 0.85 Mach or 5,000 nautical miles at 0.90 Mach. Using an advanced aerodynamic design, the G650 has a maximum operating speed of 0.925 Mach, which will make it the fastest civil aircraft flying. Gulfstream expects to begin customer deliveries of the business jet in the second half of 2012.

In addition to setting the standard for future Gulfstream models, the GI established a benchmark for executive travel. Grumman's full-scale product support for the aircraft was a first in the industry. To this day, Gulfstream offers award-winning product support to its customers around the world.