Epstein Secrets

26% 53% 21% 53 50 6% Composite Index 29% 41% 30% 50 50 0% Your, Inventory 8% 25% 67% 20 20 2% Finanong 24% 74% 3% 60 60 0% Business Conditions nla ni a Na 3.6 3.7 -1% Source. UBS Bissmess Jai Survey $43-44 Our Buy rating on GD reflects an improved defense risk profile and stabilizati

est score came in at 74, slightly lower from January, but still well above 50, indicating that on average customer interest is improving. Chart 13: UBS Business Jet Survey Score—Customer Interest 100 1 so 0 e 2 2 8 2 A 8 2 g a s:ask-2*$ s 2 0m ????M4I4M4W444”,99.79“E3;””””W:- nISIA4gAS14444S1.44411A4IASiMAS4gA4.14g14

rove, 14% expected business conditions to deteriorate and 52% expected business conditions to stay the same. Chart 19: 12-Month Forward Outlook for Business Conditions, January 2012 De'erforale 8% N O Slay tie same / 51% Improve 41% Sane: UBS Business Jet Survey Our I2•month outlook score came in at 66 this

Our financing score came in at 53 this time, in line with our previous survey and above the 50 mark indicating incremental improvement. Chart 28: UBS Business Jet Survey Score — Financing 100 - 5" 50 - -a LL 1 011111111MM $1 8 8 Source UBS Busesess Jet Surrey US$ 15 EFTA_R1_00225652 EFTA01840653 t■S Business Jet

26% 53% 21% 53 50 6% Composite Index 29% 41% 30% 50 50 0% Young Inventory 8% 25% 67% 20 20 2% Finanong 24% 74% 3% 60 60 0% Business Conditions nla ni a nia 3.6 3.7 -1% Source UBS Biomass Jet Survey $43-44 Our Buy rating on GD reflects an improved defense risk profile and stabilizatio

est score came in at 74, slightly lower from January, but still well above 50, indicating that on average customer interest is improving. Chart 13: UBS Business Jet Survey Score—Customer Interest 100 e 2 2 I so 0 8 2 g s $ 22 3 c 2 2 ????M4I4M4W444”,99.79“E3MMe,' , $§”ert nISIA4gAS14444SP4411A4IASiMAS4gA4.14g144 S