Raytheon Awarded $274 Million STANDARD Missile-2 P

Raytheon Awarded $274 Million STANDARD Missile-2 Production Contract

    TUCSON, Ariz., Dec. 23 /PRNewswire-FirstCall/ — Raytheon Company (NYSE:
RTN) has been awarded a $274 million contract from the U.S. Navy for fiscal
year 2004 STANDARD Missile-2 (SM-2) production.
    Under the firm fixed-price contract, Raytheon will deliver to the Navy 75
Block IIIB missiles; 80 Block IIIB ordnance alteration kits to upgrade older
SM-2 missiles to the Block IIIB configuration; and telemeters, spare sections
and rocket motors. The contract also calls for producing 28 Block IIIB rounds,
183 Block IIIA rounds, telemeters and shipping containers for foreign military
sales.
    "We are pleased and proud to be providing the U.S. Navy and our allies
with the exceptional fleet defense capabilities of SM-2," said Ed Miyashiro,
Raytheon Surface Navy Air Defense Systems vice president.
    Work on the contract will be performed at Raytheon facilities in Tucson,
Ariz.; Andover, Mass.; Camden, Ark.; and Farmington, N.M.
    The primary role of STANDARD Missile-2 is to provide area defense against
enemy aircraft and anti-ship missiles. The SM-2 Block IIIB, which entered the
fleet in 1998, incorporates a side-mounted infrared seeker to aid in endgame
guidance. SM-2 is operational on guided missile cruisers, destroyers and
frigates in the U.S. Navy and is in operation with more than 13 allied navies.
    Raytheon Company (NYSE: RTN), with 2002 sales of $16.8 billion, is an
industry leader in defense, government and commercial electronics, space,
information technology, technical services, and business and special mission
aircraft. With headquarters in Waltham, Mass., Raytheon employs more than
76,000 people worldwide.

    Contact:
     Sara Hammond
     520.794.7810

SOURCE Raytheon Company