TO ALL LOYAL AEROJET EMPLOYEES

On late Friday, June 6, 2008 the Aerojet Management Negotiating Committee presented to your Union Committee an economic proposal concerning Pension Benefits and General Wage Increases.

Unfortunately, management has not taken to heart, the importance of these issues as directed by the Membership. All should remember that these two issues were priority proposals made by the members we represent.

The Union Committee has already informed management of our disappointment in their pension and wage proposals. The Union is hopeful that management will re-evaluate their proposals, and recognize the true worth of their hourly employees. Your Union Committee is dedicated to fight for a fair offer.

In our best effort to keep the Membership apprized of the proposals put forward by management, no matter how mis-guided, please read the company proposals concerning Pension and Wage increases: