Raytheon Finishes the Year with Two Patriot Awards Totaling $377 M

2007 domestic Patriot awards exceed $600 million

(Tewksbury, Mass., February 13, 2008) -- Raytheon Company (NYSE: RTN) wrapped up 2007 with two Patriot contract awards totaling $377 million, bringing the total value of its 2007 domestic Patriot awards to more than $600 million.

"The combat-proven Patriot system continues to play a key role in protecting U.S. and allied forces around the world," said Pete Franklin, vice president for National and Theater Security Programs at Raytheon Integrated Defense Systems (IDS). "As the prime contractor for the Patriot system, Raytheon is committed to providing warfighters with a superior, affordable and reliable air and missile defense capability that can be counted on the first time and every time."

In December, Raytheon IDS received a $310 million U.S. Army contract to upgrade eight Patriot fire units to Patriot Advanced Configuration-3 (PAC-3) as part of the "Pure Fleet" modernization program. Pure Fleet is the result of the Army's decision in February 2006 to upgrade additional tactical Patriot fire units from Configuration-2 to Configuration-3. The upgrade is designed to enhance the system's capabilities to meet current and emerging threats.

Work will be performed at Raytheon's Integrated Air Defense Center, Andover, Mass. The latest Pure Fleet contract follows an initial $150 million U.S. Army award to Raytheon earlier in the year to upgrade four Patriot fire units.

In a second award, Raytheon received a $67 million U.S. Army contract for 152 Patriot Guidance Enhanced Missile-Tactical (GEM-T) upgrades, the second of two large orders received in 2007 for GEM-T. The award increases the total number of GEM-T missiles ordered to 952 since program inception for a total contract value of $430 million.

GEM-T is a significant upgrade over the existing Patriot Advanced Configuration-2 (PAC-2) missile and, when fielded in conjunction with the PAC- 3 system, provides a robust capability against ballistic missiles, cruise missiles, aircraft and remotely piloted vehicles. GEM-T provides the U.S. Army and its allies an affordable upgrade to leverage existing missile inventories into the Configuration-3 capability.

GEM-T missiles are PAC-2 missiles that are refurbished and modernized at Raytheon's Integrated Air Defense Center, Andover, Mass. Through the upgrade process, older components are replaced, new technology inserted and reliability increased.

Source : Raytheon

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