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Raytheon Company Purchases Flight Options International's Interest in Flight Options, LLC

WALTHAM, Mass., Dec. 29, 2005 /PRNewswire-FirstCall/ -- Raytheon Company (NYSE: RTN) has closed an agreement with Flight Options International to purchase its remaining equity in Flight Options, LLC, a fractional jet service provider.

Prior to this agreement, Raytheon had a 97.6% ownership stake in Flight Options, LLC. This equity purchase makes Flight Options, LLC a wholly-owned subsidiary of Raytheon Company. Terms of the agreement were not disclosed.

Raytheon Company (NYSE: RTN), with 2004 sales of $20.2 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 more than 80,000 people worldwide.

   Steve Brecken

SOURCE: Raytheon Company

CONTACT: Steve Brecken of Raytheon Company, +1-781-522-5127

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

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