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Raytheon Awarded $12.5 Million U.S. Navy Contract for Torpedo Services and Support

TEWKSBURY, Mass., Dec. 21, 2006 /PRNewswire/ -- Naval Sea Systems Command has awarded a $12.5 million contract to Raytheon Company (NYSE: RTN) for technical engineering, repair and maintenance services in support of the MK48 Advanced Capability (ADCAP) heavyweight torpedo.

Raytheon Integrated Defense Systems (IDS) is the U.S. Navy's prime production supplier of light and heavyweight torpedoes and leads operations of the company's Heavyweight Torpedo Intermediate Maintenance Activity (IMA) in Pearl Harbor, Hawaii, a facility dedicated to torpedo evaluation, test and maintenance. With this contract, Raytheon continues to demonstrate its ability to work synergistically with the Navy torpedo enterprise to efficiently and cost effectively support its domestic and international torpedo programs.

"Raytheon continues to build on its strong partnership with the U.S. Navy, working together to develop and produce the world's most affordable and reliable torpedoes for U.S. and allied fleets," said Dan Martin, IDS' vice president of Maritime Mission Systems. "The IMA dedicates its resources, capabilities and core competencies to the delivery of superior solutions, service and support to ensure mission success for the Navy's torpedo enterprise."

This award is a contract modification reflecting an exercised one-year option that was included in the original technical services contract awarded in April 2006. Under the contract, IDS will perform intermediate-level maintenance, repair and refurbishment of MK48 ADCAP torpedoes currently in the U.S. Navy's fleet inventory of training and warshot torpedoes. The inventory is used for fleet training, readiness and submarine-launched torpedo warshot exercises. Work on the contract will be performed in Pearl Harbor, Hawaii, Yorktown, Va., and Poulsbo, Wash.

Integrated Defense Systems is Raytheon's leader in Joint Battlespace Integration providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.

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.

  Carolyn Beaudry

SOURCE: Raytheon Company

CONTACT: Carolyn Beaudry of Raytheon Company, +1-401-842-3550

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

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