USS US Shipping Partners

SAN DIEGO, Jan. 22 /PRNewswire/ -- General Dynamics NASSCO, a wholly-owned subsidiary of General Dynamics (NYSE:GD), today began construction of the second ship of its new class of product carriers. The shipyard is scheduled to lay the ship's keel in June and deliver the ship to U.S. Shipping Partners (NYSE:USS) in the second quarter of 2009. In August 2006, NASSCO received a $1 billion contract from U.S. Shipping Partners to build nine ships. The ships will be double-hulled, 183 meters (600.4 feet) in length and displace 49,000 dead weight tons. With a cargo capacity of about 331,000 barrels, the ships are designed to carry petroleum and chemical products in Jones Act trade between U.S. ports. General Dynamics NASSCO employs approximately 4,700 people and is the only major ship construction and repair yard on the West Coast of the United States. In addition to the Product Carrier ship program, NASSCO is also building the new class of T-AKE dry cargo-ammunition ships for the U.S. Navy. Additional information on NASSCO can be found at http://www.nassco.com/. General Dynamics, headquartered in Falls Church, Virginia, employs approximately 83,000 people worldwide and anticipates 2007 revenues of more than $27 billion. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available online at http://www.generaldynamics.com/. DATASOURCE: General Dynamics NASSCO CONTACT: Karl D. Johnson of General Dynamics NASSCO, +1-619-544-8860, Cell: +1-619-756-5039, Web site: http://www.nassco.com/ http://www.generaldynamics.com/

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