WALTHAM, Mass., March 21, 2007 /PRNewswire-FirstCall/ -- Raytheon Company (NYSE: RTN) announced today that its Board of Directors has voted to increase the Company's annual dividend by six percent from $0.96 to $1.02. The Board also authorized payment of a quarterly cash dividend of 25.5 cents per outstanding share of common stock to be paid on May 1, 2007 to shareholders of record as of the close of business on April 3, 2007. Payment of quarterly dividends is subject to Board authorization.

"Our dividend increase reflects continued confidence in the Company's performance and our commitment to our shareholders," said William H. Swanson, Raytheon's Chairman and CEO.

Raytheon Company (NYSE: RTN), with 2006 sales of $20.3 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
  Jon Kasle
  781.522.5110

  Investor Relations Contact
  Greg Smith
  781.522.5141

SOURCE: Raytheon Company

CONTACT: Jon Kasle, +1-781-522-5110, or Investor Relations, Greg Smith,
+1-781-522-5141, both of Raytheon Company

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