Aerojet Executes Settlement With American States Water Co.

GenCorp Inc., announced today that its Aerojet-General ("Aerojet") subsidiary has executed a Settlement Agreement and Release with American States Water Co., and its Southern California Water Co., subsidiary for settlement related to a 1999 legal action against Aerojet.

This is the second agreement signed by Aerojet in the last 15 months to address water supply in eastern Sacramento County, and follows Aerojet's 2003 agreement with the County of Sacramento Water Agency.

Together these agreements establish a comprehensive, forward-thinking approach to replacement water supply needs of the area. Under these Agreements, Aerojet will continue to extract and treat approximately 19-24 million gallons of water daily. Once extracted and treated, Aerojet transfers ownership of the water to the County, which is undertaking responsibility to meet replacement water supply needs. The AWR-Aerojet Agreement also further establishes AWR's intent to become a water purveyor for portions of Aerojet's land. A separate water delivery agreement between AWR and the County confirms that the water made available by Aerojet is provided to AWR to meet its replacement water need.

Source: GCI