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Raytheon Company Announces Small Shareholder Odd-Lot Buy/Sell Program

WALTHAM, Mass., Aug. 15, 2005 /PRNewswire-FirstCall/ -- Raytheon Company (NYSE: RTN) announced today a program to provide shareholders owning less than 100 shares of its common stock with an opportunity either to sell all their shares or to purchase enough additional shares to increase their holdings to 100 shares.

The program, which is voluntary, recognizes that inconvenience or potential costs often deter shareholders from selling or purchasing less than 100 shares. At the same time, Raytheon expects the program will save shareholder servicing and administrative costs.

Participants will pay or receive a per share price equal to the average daily closing price of Raytheon common stock as reported by the New York Stock Exchange while the program is in effect. A processing fee of $0.90 per share up to a maximum of $40 per account will be charged. Georgeson Shareholder Communications Inc. will manage the Program which is tentatively set to expire September 16, 2005, unless extended by Raytheon. Full details are described in the program materials being mailed today to eligible shareholders. Questions on this program should be directed to Georgeson Shareholders Communications Inc. at (866) 343 - 2017.

Raytheon Company (NYSE: RTN), with 2004 sales of $20.2 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 more than 80,000 people worldwide

   Contact
   James Fetig
   781.522.5111

   Investor Relations Contact
   Greg Smith
   781.522.5141

SOURCE: Raytheon Company

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

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