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Raytheon Awarded $45.5 Million for Paveway™ Laser Guided Bomb Production

TUCSON, Ariz., Oct. 11, 2005 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $45.5 million contract for the U.S. Air Force's fiscal year 2005 procurement of Paveway™ II laser guided bomb kits.

The Paveway™ bomb kits turn conventional "dumb" bombs into precision guided weapons. The semi-active laser guided munitions, which home on reflected energy directed at a target, feature accuracy, reliability and cost- effectiveness unattainable with conventional weapons.

"As the legacy provider of Paveway™ II laser guided bombs, we are committed to providing our customers with the best products available to ensure mission success," said Harry Schulte, Raytheon's Strike product line vice president.

Paveway™ precision guided bombs have revolutionized tactical air-to- ground warfare. Paveway™ was the most widely used precision munition in Operation Iraqi Freedom, with more than 8,700 dropped.

Paveway™ II saw its first combat action in the Falklands in 1982, when used by the U.K.'s Royal Air Force.

Raytheon also produces the Enhanced Paveway™ II, which combines the laser guidance system with a Global Positioning System-aided Inertial Navigation System. The resulting dual-mode capability offers true all-weather flexibility not found in other weapons systems being produced: GPS guidance for poor weather conditions and precise laser guidance when required for mobile targets of opportunity. In addition Enhanced Paveway™ II has demonstrated its ability to be accurately guided on INS in a GPS-denied environment.

Raytheon Company, 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 80,000 people worldwide.

  Contact:
   Alan D. Fischer
   520.794.1211

SOURCE: Raytheon Company

CONTACT: Alan D. Fischer of Raytheon, +1-520-794-1211

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

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