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Raytheon Awarded $285 Million Contract to Continue Producing TOW ITAS Precision Guidance Systems

MCKINNEY, Texas, Oct. 4, 2006 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $285.4 million contract to produce and deliver Improved Target Acquisition Systems (ITAS) to the U.S. Army and the U.S. Marine Corps. The five-year contract from the U.S. Army Aviation and Missile Command in Huntsville, Ala., continues Army procurement of the systems and marks the start of the U.S. Marine Corps system acquisition. The Army procured 709 ITAS units from 1999 through 2004.

ITAS is the advanced Electro-Optic Target Acquisition Fire Control System. It guides the TOW (Tube-Launched, Optically Tracked, Wire-Guided) weapon systems to their targets with surgical precision. The targeting system significantly increases TOW's effective range, improves the weapon's ability to hit a target with minimal collateral damage and allows a soldier to engage and destroy targets from safe distances. ITAS's 2nd generation FLIR (forward-looking infrared) sensor provides long-range reconnaissance and surveillance capability 24/7, in all weather and battlefield conditions.

ITAS is fielded in Operation Iraqi Freedom and Operation Enduring Freedom, where it has demonstrated its value in all phases of the conflict and subsequent peace-keeping efforts.

Raytheon Network Centric Systems Vice President of Combat Systems Glynn Raymer said, "Early on, soldiers used ITAS in its traditional role, but they soon discovered innovative uses for the system. For instance, using ITAS as a precision-guidance system allowed our troops to engage insurgents in the urban fight without collateral damage to nearby homes, shrines and cultural landmarks."

Raymer also noted that planned product improvements will incorporate the Far Target Location capability, which automatically determines target location and shows the troop location to give complete situational awareness. Incorporation of a network radio would allow transmission of this information to networked systems on the battlefield.

Raytheon Company, with 2005 sales of $21.9 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 80,000 people worldwide.

  Note to Editors:
  * This contract was initially announced by the Department of Defense on
    Sept. 14, 2006.
  * ITAS is designed and produced by Raytheon Network Centric Systems in
    McKinney and Dallas, Texas, where approximately 120 people support the
    program. Fifteen additional Raytheon employees produce ITAS components
    in El Segundo and Santa Barbara, Calif., Largo, Fla., and Midland,
    Ontario, Canada.
  * Operation Iraqi Freedom and the Army's modularity initiative drove the
    decision to reinstate ITAS as an Infantry Brigade Combat Team component.
    Additional funds were received in the 2005 supplemental request. This
    award is part of the 2006 supplemental request.
  * The initial purchases for this contract are valued at $285.4M million,
    including 623 ITAS and 33 spare sets: 438 are for the Marines, 218 are
    for the Army. Under the five-year option, the Army may purchase up to
    1,600 additional units, valued at more than $750 million. The total
    five-year contract with options is valued at $1.1 billion.
  * Second-generation FLIR has been fielded since 2000. This leap in
    technology provides soldiers significantly improved long-range
    reconnaissance and surveillance capability 24/7 in all weather and
    battlefield conditions.

  Maribeth Welch

SOURCE: Raytheon Company

CONTACT: Maribeth Welch of Raytheon, +1-727-424-7788

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

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