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Raytheon and Massachusetts Union Agree on New Contract

    TEWKSBURY, Mass., Oct. 2, 2004  /PRNewswire-FirstCall/ -- Raytheon
Integrated Defense Systems has been informed by the leadership of the
International Brotherhood of Electrical Workers Local 1505 that a tentative
agreement for a new three year labor contract reached late Thursday night, has
been ratified by a vote of the membership today.

    The company is pleased with the negotiations process, the ratification and
the new contract. The new agreement contains improvements in wages and
benefits, and the parties reached agreement on a number of key issues which
help keep Raytheon competitive.

    Based in Tewksbury, Mass., Integrated Defense Systems is Raytheon's leader
in mission systems integration. With a strong international and domestic
customer base, including the U.S. armed forces and the U.S. Missile Defense
Agency, Integrated Defense Systems provides integrated solutions for the air,
surface and subsurface battlespace.

    Raytheon Company (NYSE: RTN), with 2003 sales of $18.1 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 78,000 people

   Steve Brecken

SOURCE: Raytheon Integrated Defense Systems

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

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