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Raytheon Company Announces Closing Results of Debt Tender Offer

    WALTHAM, Mass., Oct. 29, 2004  /PRNewswire-FirstCall/ -- Raytheon Company
(NYSE: RTN) announced today the results of its previously announced tender
offers (the "Tender Offers") for 5 different series of debt securities (each,
a "Security", and collectively, the "Securities"), which has now closed.  The
Tender Offer commenced on September 30, 2004, and expired at 11:59 p.m., New
York City time, on Thursday, October 28, 2004.  At settlement, the Company
will pay approximately $1.1 billion in total (including accrued and unpaid
interest and early tender fees) for all Securities purchased.

    The following table provides the aggregate principal amount tendered and
accepted for each series of Securities:


            Title of Securities        CUSIP Number   Aggregate Principal
                                                      Amount Tendered and
                                                           Accepted

   6.500% Notes due July 15, 2005          755111AB7      $300,000,000
   6.750% Notes due August 15, 2007        755111AE1      $300,000,000
   4.500% Notes due November 15, 2007      755111BM2      $100,000,000
   6.150% Notes due November 1, 2008       755111AN1      $175,000,000
   6.00% Notes due December 15, 2010       755111AV3      $125,000,000

    NOTE: The statements in this press release that are not historical
statements are considered forward-looking statements within the meaning of the
federal securities laws.  These statements are subject to risks, uncertainties
and other factors, many of which are beyond the Company's control, which could
cause the Company's actual performance to be materially different from those
expressed or implied by the statements.  The Company expressly disclaims a
duty to provide updates to forward-looking statements, and the estimates and
assumptions associated with them, after the date of this press release to
reflect the occurrence of subsequent events, changed circumstances or changes
in the Company's expectations.  Further information regarding factors that
could affect the Company's forward-looking statements are reported in the
Company's 2003 Annual Report on Form 10-K and its Quarterly Reports on Form
10-Q filed with the Securities and Exchange Commission (http://www.sec.gov/).

    Raytheon Company (NYSE: RTN), with 2003 sales of $18.1 billion, is an
industry leader in defense and government electronics, space, information
technology, technical services, and business and special mission aircraft.
With headquarters in Waltham, Mass., Raytheon employs 78,000 people worldwide.

       Contact
   Steve Brecken
   781.522.5127


SOURCE: Raytheon Company

Web site:  http://www.raytheon.com/



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