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U.S. Army Awards $85.3 Million Contract to Raytheon for Excalibur Production

TUCSON, Ariz., Sept. 5, 2008 /PRNewswire/ -- The U.S. Army awarded Raytheon Company (NYSE: RTN) an $85.3 million contract to produce tactical Excalibur projectiles for the U.S. Army, U.S. Marine Corps and the Australian Defence Forces.

Excalibur, a cooperative effort between Raytheon Missile Systems and BAE Systems Bofors of Sweden, is an artillery projectile that provides precision- strike capability at extended ranges for current and future 155 mm howitzers.

"The Excalibur is a combat-proven artillery round that gives the soldier precision guidance and extended range," said Kevin Byrnes, Raytheon's vice president of Business Development-Army Executive. "Nothing is more important to us than providing the warfighter with innovative and highly effective technology."

Excalibur is the only precision projectile currently fired from U.S. Army (Paladin and LW155), USMC (LW155) and Canadian (LW155) 155 mm howitzers. The objective Excalibur has a 40-km (24.8 miles) range that demonstrates better than 10 meter-(32.8 feet) accuracy.

"Excalibur's accuracy and lethality have brought the howitzer into the 21st century," said Raymond Sicignano, U.S. Army deputy product manager for Excalibur. "It provides both the precision and responsiveness required for operations in heavily populated areas. Its surgical strike accuracy effectively eliminates enemy targets while protecting the civilian population."

Raytheon Company, with 2007 sales of $21.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 86 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide.

  Contact:
  Heather Uberuaga
  520.665.5594
  uberuaga@raytheon.com

SOURCE: Raytheon Company

CONTACT: Heather Uberuaga of Raytheon Company, +1-520-665-5594,
uberuaga@raytheon.com

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

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