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News Release

Aerojet Motors Pass Missile Defense System Test

SACRAMENTO, Calif., Aug. 3, 2006 -- Aerojet, a GenCorp Inc. (NYSE: GY) company, successfully demonstrated its boost motor capabilities during a test of the Terminal High Altitude Area Defense (THAAD) interceptor July 12 at White Sands Missile Range, N.M.

This was the third successful flight test of an Aerojet THAAD booster since November 2005. Aerojet has been under contract to prime contractor and systems integrator, Lockheed Martin (NYSE: LMT), for the THAAD boost motor since June 2004.

The Hera target vehicle, powered by an Aerojet first-stage solid propellant rocket motor, was successfully intercepted and destroyed high over the New Mexico desert. All THAAD elements participated, demonstrating integrated performance of the entire system. All preliminary data indicate that the booster test objectives were achieved.

"The THAAD system is a key component of the U.S. Ballistic Missile Defense System," said Dick Bregard, Aerojet vice president of Defense Programs. "This successful intercept of an incoming target marked a significant program milestone, and demonstrates the systems capability and readiness to protect our nation and its allies."

Aerojet is a world-recognized aerospace and defense leader principally serving the missile, space propulsion, and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate business segment that includes activities related to the entitlement, sale, and leasing of the Company's excess real estate assets. Additional information about Aerojet and GenCorp can be obtained by visiting the Companies' web sites at http://www.Aerojet.com and http://www.GenCorp.com.

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