Aerojet Dedicates Building to New Motor Production

SACRAMENTO, Calif., March 9, 2005 -- Aerojet, a GenCorp Inc. (NYSE: GY) company, hosted a ceremonial ribbon cutting today for a newly renovated building at its Sacramento site that will be used for the Terminal High Altitude Area Defense (THAAD) program. Representatives of the Missile Defense Agency, THAAD Project Office, and Lockheed Martin –customers of Aerojet for the new missile production program – attended the event.

The THAAD missile uses an Aerojet solid propellant rocket motor. Aerojet is under contract to THAAD prime contractor, Lockheed Martin, for the THAAD Development Program. THAAD is a key element in the nation’s Ballistic Missile Defense System and is intended to defend against short- and medium-range ballistic missiles. Since becoming a THAAD team member in June 2004, Aerojet has added more than 75 new jobs to support the program. The jobs range from plastic mechanics, operators, and chemists to X-ray technicians and structural analysts. New employees have been recruited from the local area and throughout California.

Renovation of the production building, which previously served as a motor production facility for the Minuteman III missile, was completed in just seven months.

Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, defense and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate 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.