Aerojet Joins the Virginia Commonwealth Center for Advanced Manufacturing - Company Plans Active Participation to Develop Advanced Manufacturing Technologies

SACRAMENTO, Calif., Feb. 9, 2011 – Aerojet, a GenCorp (NYSE: GY) company, announced today that it has joined the Virginia Commonwealth Center for Advanced Manufacturing (CCAM), located near Richmond, Va. CCAM was founded jointly by the University of Virginia and Virginia Polytechnic Institute and State University (Virginia Tech) as part of a partnership with the Commonwealth of Virginia and Rolls-Royce North America to provide transformational improvements in advanced manufacturing technologies for surface engineering and manufacturing systems. CCAM researchers will strive to develop technologies that reduce manufacturing costs, improve manufacturing processes, increase production quality and reduce time to market. The unique feature of CCAM is the collaborative research environment which is designed specifically to accelerate the transition of technologies from technology assessment to product implementation. This collaborative environment is further enhanced by the design of the facility itself.

“Aerojet surveyed many centers for manufacturing around the country and determined that due to CCAM’s interests in surface engineering and manufacturing systems, its support by the founding universities, its concentration on acceleration of transition of technologies to the manufacturing floor, and its approach to intellectual property rights, the collaboration fit well with Aerojet’s corporate vision and strategic plan,” says Aerojet Vice President for Business Development, Rick Yezzi.

“Working with the research team from CCAM, the University of Virginia and Virginia Tech offers great potential for adapting advanced manufacturing approaches from related industries to both Aerojet’s core business and emerging opportunities,” says Aerojet Vice President of Advanced Programs, Farid Khadduri. “In addition, access to undergraduate and graduate students who will be working and training with the researchers at CCAM will provide resources for the workforce needed to remain competitive in today’s manufacturing environment.”

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’ websites at http://www.Aerojet.com and http://www.GenCorp.com.