WALTHAM, Mass., March 26 /PRNewswire-FirstCall/ -- Raytheon Company's (NYSE: RTN) Board of Directors has voted to increase the Company's annual dividend by 10 percent from $1.02 to $1.12. The Board also authorized payment of a quarterly cash dividend of 28 cents per outstanding share of common stock to be paid on April 29, 2008 to shareholders of record as of the close of business on April 1, 2008. Payment of quarterly dividends is subject to Board authorization.

"This dividend increase reflects our continued strong financial performance and our ongoing commitment to provide value to our shareholders," said William H. Swanson, Raytheon's Chairman and CEO.

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 more than 85 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.

  Media Contact
  Jon Kasle
  781.522.5110

  Investor Relations Contact
  Greg Smith
  781.522.5141

SOURCE: Raytheon Company

CONTACT: Media: 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/