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Raytheon Begins Full Rate Production of MK 54 Torpedoes

    TEWKSBURY, Mass., Oct. 26, 2004  /PRNewswire/ -- Raytheon Company has begun
full rate production of the MK54 torpedo, the U.S. Navy's next generation
lightweight torpedo.  This significant milestone follows a series of
successful technical and operational evaluations and the U.S. Navy's
authorization of initial operational capability for introduction to the fleet.

    Co-developed by Raytheon Integrated Defense Systems and the U.S. Navy, the
MK54 is the next generation anti-submarine warfare weapon deployed from
surface ships, helicopters and fixed wing aircraft to track, classify, and
attack underwater targets.  Sophisticated processing algorithms allow the MK54
to analyze the information, edit out false targets or countermeasures, and
pursue identified threats.  The MK54 is designed for both deep water and
littoral environments, making it the only lightweight torpedo capable of
striking any target in the world's oceans, regardless of water depth.

    "The MK54 is the most thoroughly tested torpedo in the world.  During the
recently concluded operational testing, the MK 54 met or exceeded all design
specifications and significantly surpassed baseline performance requirements,"
said Rear Admiral John D. Butler, U.S. Navy, program executive officer --
Submarines.  "With the MK 54 lightweight torpedo now reaching the fleet,
threat submarines truly have no place to hide."

    Raytheon is the U.S. Navy's provider of light and heavyweight torpedoes.
The Navy chose Raytheon as the prime production supplier based on the
company's proven performance on existing torpedo contracts and demonstrated
ability to work synergistically with the Navy torpedo enterprise to produce
these hardware assets most efficiently and cost effectively.

    Under the consolidated procurement contract for fiscal year 2004, Raytheon
will deliver 51 MK54 lightweight torpedoes and associated whole-life support
services.  The five-year contract value, including exercised options, is
expected to exceed $500 million.

    Work will be performed at Raytheon's Torpedo and Readiness Center, co-
located on the U.S. Navy base in Keyport, Wash., and at the Naval Integration
Center in Portsmouth, R.I.

    Based in Tewksbury, Mass., Integrated Defense Systems (IDS) is Raytheon's
leader in mission systems integration. With a strong international and
domestic customer base, including the U.S. armed forces and U.S. Missile
Defense Agency, IDS provides integrated capability solutions to the air,
surface, and subsurface battlespace.

    Raytheon Company (NYSE: RTN), with 2003 sales of $18.1 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 78,000 people worldwide.

   Guy Shields
   Raytheon Company

SOURCE: Raytheon Company

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

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