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U.S. Air Force Awards Raytheon $5.7 Million Contract Option for Maverick Missile Upgrades

TUCSON, Ariz., Nov. 3, 2008 /PRNewswire/ -- Raytheon Company (NYSE: RTN) was awarded a $5.7 million contract option to upgrade software on the AGM-65 H/K TV-guided Maverick air-to-surface missile.

"The software retrofit improves pilots' ability to visually identify and engage distant targets," said Col. Eric Theisen, Air Combat Command's Advanced Programs division chief. "This translates into greater standoff distance for the weapon and better survivability for the operator."

The upgrades also provide the operator with more combat engagement opportunities.

"The upgraded software reduces aircrew workload, while improving the missile hit rate and accuracy," said Harry Schulte, vice president of Raytheon Missile Systems' Air Warfare Systems' product line. "The Maverick has always been ideal for close air support missions; now it's even better."

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.

  Mike Nachshen

SOURCE: Raytheon Company

CONTACT: Mike Nachshen, +1-520-794-4088, Michael_nachshen@raytheon.com

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