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Raytheon Awarded $422 Million Contract for Standard Missile-2 Production

TUCSON, Ariz., Nov. 3, 2008 /PRNewswire/ -- U.S. Naval Sea Systems Command awarded Raytheon Company (NYSE: RTN) a $422 million production contract for Standard Missile-2 Block IIIA and Block IIIB missiles. Raytheon will provide SM-2 missiles to the U.S. Navy, Taiwan, the Republic of Korea and Japan.

The SM-2 employs dual-mode infrared and radio frequency guidance to defeat target countermeasures. The SM-2 has demonstrated success against supersonic, sea-skimming missiles during high-G (gravity force) maneuvers.

"The flexibility and reliability of the SM-2 are unmatched, and it has the longest range of any naval air defense missile in the world," said Ron Shields, Raytheon Missile Systems Standard Missile program director. "That's why navies around the world continue to select it as their missile of choice for fleet air defense coverage."

SM-2 has been the U.S. Navy's primary surface-to-air fleet defense weapon for more than three decades. It is capable of engaging anti-ship cruise missiles, fixed-wing aircraft and helicopters. The latest versions of the missile feature improved guidance software.

"The SM-2 continues to evolve to meet the needs of the U.S. Navy and allied navies," said Kirk Johnson, the U.S. Navy's Standard Missile program manager. "This weapon system will help us counter the expanding array of threats the U.S. Navy faces in the world today."

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:

This contract award was originally announced by the Department of Defense Sept. 30, 2008

  Heather Uberuaga

SOURCE: Raytheon Company

CONTACT: Heather Uberuaga, +1-520-665-5594, uberuaga@raytheon.com

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