Aerojet Upper Stage Engine Technologies Contract Expanded by Air Force

SACRAMENTO, Calif., Sept. 15, 2004 -- Aerojet, a GenCorp Inc. (NYSE: GY) company, announced today the exercise of options on a contract initially awarded nine months ago by the Air Force Research Laboratory (AFRL), Edwards AFB, Calif., for two follow-on phases of computational capability improvements in advanced upper stage engine technologies.

The second and third phases will establish tools and methodology, as well as develop a hydrogen turbopump concept to validate and demonstrate key technologies. These phases of the contract, awarded by AFRL, are valued at $11 million over a 27-month period. The advanced technology work is designed to meet the goals of the Integrated High Payoff Rocket Propulsion Technology (IHPRPT) program. Aerojet recently completed the initial phase, which was awarded in October 2003.

"Aerojet is extremely proud of the work achieved in the initial nine-month phase of this upper stage engine technology work with AFRL," said Aerojet Vice President of Business Development Ron Samborsky. "The award of the final phases validates Aerojet's capabilities in advanced space propulsion."

The scope of work in the second and third phases includes the development of physics-based analytical tools and methodologies for an engine system, turbopump and combustion chamber. A state-of-the-art high-speed hydrostatic bearing hydrogen pump will be developed, with additional options available to fabricate the pump and validate the tools and methodologies. The tools developed by Aerojet will allow for accurate predictions of engine operation, translating to smarter design choices early on in an engine development program.

"The technologies being developed for AFRL and the IHPRPT program have long-term application potential," said Aerojet Upper Stage Engine Technology Program Manager Linda Andersen. "A high-speed hydrogen turbopump could potentially decrease engine weight and cost, while also increasing reliability and performance. The success of these technologies means Aerojet and the Air Force will be able to develop higher performing engines -- quicker and with less risk."

Aerojet is performing this effort with supplier teammates Rotordynamics- Seal Research of Loomis, Calif., Concepts NREC of White River Junction, Vt., and Florida Turbine Technologies of Jupiter, Fla.

Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, and defense and armaments markets. GenCorp is a technology-based manufacturer with positions in the aerospace and defense, pharmaceutical fine chemicals, and real estate industries. Additional information about Aerojet and GenCorp can be obtained by visiting the Companies' web sites at www.aerojet.com and www.GenCorp.com.

-- end --