TUCSON, Ariz., Aug. 4, 2008 /PRNewswire/ -- Raytheon Company (NYSE: RTN) was awarded a $31.6 million U.S. Air Force competitive contract for Paveway II laser guided bomb components for fiscal year 2008.

Raytheon will provide the Air Force with LGB computer control groups and air foil groups that transform "dumb" bombs into precision guided munitions. Raytheon received the maximum award possible for the computer control group portion of the contract.

"Raytheon, which is the sole provider of the Paveway family of weapons, has proudly earned the majority share of Paveway II competitive awards for three consecutive years," said Ricky Freibert, Raytheon's Paveway program director. "This important win for Raytheon further demonstrates the company's unwavering commitment to meet or exceed the warfighter's need for cost-effective solutions."

Contract work will occur at Raytheon facilities in Dallas, Tucson, Ariz., and the Navajo Agricultural Product Industry Industrial Park near Farmington, N.M.

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.

Note to Editors:

The Paveway LGB system features an onboard guidance system called the computer control group, which guides the unit to a target illuminated by an external laser source.

During Raytheon's 35 years of LGB development and manufacturing, the company has delivered more than 250,000 Paveway II weapons to the U.S. and more than 35 allied nations for use on 25 different aircraft.

  Contact:
  Mike Nachshen
  520.794.4088 - office
  520.269.5697 - mobile
  Michael_nachshen@raytheon.com

SOURCE: Raytheon Company

CONTACT: Mike Nachshen of Raytheon Company, +1-520-794-4088,
+1-520-269-5697 mobile, Michael_nachshen@raytheon.com

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