EXHIBIT 99.2

Gulfstream News Release, May 17, 1999

[GULFSTREAM LOGO]

                                                     For Immediate Release:
                                                       Monday, May 17, 1999

GENERAL DYNAMICS TO ACQUIRE GULFSTREAM IN $5.3 BILLION STOCK DEAL


TRANSACTION WILL BE ACCRETIVE TO EARNINGS AND CASH FLOW

FALLS CHURCH, VA. and SAVANNAH, GA. - General Dynamics (NYSE: GD) and
Gulfstream Aerospace Corporation (NYSE: GAC) announced today that they have
entered into a definitive agreement for General Dynamics to acquire
Gulfstream Aerospace Corporation in a one-for-one stock swap, valued at
$71.44 per Gulfstream share, or approximately $5.3 billion, based on
General Dynamics' closing price on May 14, 1999. The transaction, which
will be accounted for as a pooling of interests, is expected to be taxfree
to Gulfstream shareholders.

The proposed acquisition, unanimously approved by the boards of directors
of both companies, is subject to shareholder and regulatory approval and
customary closing conditions. It is expected to be completed in the third
quarter of 1999.

Gulfstream had 1998 revenues of $2.4 billion and earnings of $225.3
million. At the end of the first quarter of 1999, Gulfstream reported fully
diluted shares of approximately 74 million. On the same basis, General
Dynamics reported approximately 128 million shares. General Dynamics is
expected to have approximately 202 million shares outstanding after the
acquisition is completed.

"This transaction will be immediately - and handsomely -- accretive to
earnings and cash flow, and a fine addition to General Dynamics," said
Nicholas D. Chabraja, General Dynamics chairman and chief executive
officer. "Gulfstream, our first major commercial acquisition, is squarely
within the criteria we established five years ago in our strategy for
building shareholder value. Beyond our defense core, that strategy calls
for opportunistically pursuing businesses where we can apply our core
competencies in development, design and production - and Gulfstream is a
perfect fit. As Gulfstream moves further into computer-aided design and
manufacturing, our broad expertise in establishing efficient manufacturing
environments - plus our heritage in aircraft development and production --
will add significant value.

"Gulfstream is a superbly run company and it produces the best business
jets in the world," Chabraja added. "It has an innovative and effective
marketing organization and a team of talented, hardworking employees. Its
lean management structure and focus on operating excellence and customer
satisfaction make it a strong cultural fit with General Dynamics," Chabraja
said. "This transaction will create value for the shareholders of both
companies, and creates additional opportunities for Gulfstream employees."

Theodore J. Forstmann, chairman and chief executive officer of Gulfstream,
said, "Running Gulfstream for the past six years has been easily the most
rewarding experience of my business career. During this period, my partner
Sandra Horbach and I, together with the senior management and employees of
Gulfstream, have built a company with a solid financial structure, a large
backlog, a totally dominant brand in the global marketplace and very
significant prospects for further growth. Gulfstream should now be part of
a larger enterprise. We have been offered a fair price, and, in General
Dynamics, have found a good home for this great American company and its
superb employees.

"Gulfstream Aerospace would become a wholly-owned subsidiary of General
Dynamics," said Chabraja, "with no change to its existing management,
operations, facilities, or work force. I have asked Ted Forstmann to stay
on as chairman of Gulfstream, and I am delighted that he has accepted."
W.W. Boisture, Jr., will continue as president and chief operating officer,
and Chris A. Davis will continue as executive vice president and chief
financial and administrative officer. Forstmann Little & Co., which owns
approximately 16.5 million Gulfstream shares, or approximately 23 percent
of Gulfstream's outstanding shares, has agreed to vote its shares in favor
of the transaction. Theodore Forstmann is a senior partner of that company.

Gulfstream Aerospace is the leading designer, developer, manufacturer and
marketer of the world's most technologically advanced business jet
aircraft. It has produced more than 1,000 aircraft for customers around the
world since 1958. Gulfstream offers a broad range of aircraft products and
services to meet the aviation needs of its customers, including the
Gulfstream IV-SP, the ultra-long range Gulfstream V, Gulfstream Shares,
Gulfstream Financial Services, Gulfstream Lease, Gulfstream Pre-Owned
Aircraft Sales, Gulfstream Charter Services, Gulfstream Management Services
and Gulfstream ServiceCare.

Gulfstream ended the first quarter of 1999 with a $4.1 billion backlog of
129 aircraft. The company has 7,800 employees, with operations in six
states. General Dynamics, headquartered in Falls Church, Virginia, provides
sophisticated defense systems to the United States and its allies. Its
products include nuclear submarines, surface combatants, auxiliary ships,
armored vehicles and other combat systems, and information systems. The
company has 29,000 employees and had 1998 sales of $5 billion.

Bear, Stearns & Co. Inc. is financial advisor to General Dynamics. Merrill
Lynch and Goldman, Sachs & Co. are financial advisors to Gulfstream.

     CONTACTS:
     General Dynamics: Norine Lyons /703-876-3190
     Gulfstream Aerospace: Tricia Bergeron/ 912-965-3700
     Forstmann Little: George Sard/Anna Cordasco@Sard Verbinnen 
     & Co./ 212-687-8080 

General Dynamics Analyst/Press Meeting & Conference Call 

     9:30 A.M. MONDAY, MAY 17, 1999
     THE EQUITABLE BUILDING
     787 Seventh Avenue (51st Street) in the Alexander Room, 49th Floor
     DIAL IN NUMBER: (U.S. and Canada) 1-800-852-5279
     International callers: 303-267-1006

     A replay of the conference call will be available from 11:00 a.m. 
     on May 17 until 5:00 p.m. on May 24
     U.S. and Canada: 1-800-625-5288
     International callers: 303-804-1855
     Ask for reservation number 547462