TUCSON, Ariz., Oct. 10, 2006 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has received a contract with five one-year options that has an initial value of $163.2 million to provide heavy anti-tank, precision assault missiles for the U.S. military.

Under this contract, Raytheon will deliver the new wireless version of TOW missiles that receives commands from the gunner through a wireless data link, eliminating the wire connection that the system has used since it was introduced more than 30 years ago.

Because the wireless system is built into the missile and the missile case, wireless TOW works with existing launch platforms -- including the Improved Target Acquisition System, Improved Bradley Acquisition Subsystem, TOW 2 Subsystem and M220 Ground TOW. The system performs exactly as the wire-guided version, enabling soldiers to continue using the proven weapon without changing tactics or incurring additional training.

"The wireless TOW provides the soldier and Marine with the next logical step in the evolution of this proven weapon system," said Jim Riley, vice president of Raytheon Missile Systems' Land Combat product line. "This increases the tactical superiority and versatility of a system that continues to prove itself in ongoing combat operations."

TOW remains the Army and Marine Corps' primary heavy anti-tank and precision assault weapon deployed on more than 4,000 TOW launch platforms including the Army "Stryker," Bradley Fighting Vehicle System and High Mobility Multipurpose Wheeled Vehicle.

Raytheon Company, with 2005 sales of $21.9 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.

Note to Editors: This contract was awarded Sept. 15, 2006, by the U.S. Army Aviation and Missile Command, Redstone Arsenal, Ala., and was initially announced by the Department of Defense on Sept. 20.

  Contact:
  Everett Tackett, APR
  520.545.8966

SOURCE: Raytheon Company

CONTACT: Everett Tackett of APR for Raytheon, +1-520-545-8966

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