Raytheon Meets Critical Milestone as Part of Excalibur Ib Contract Competition

YUMA PROVING GROUND, Ariz., April 7, 2009 /PRNewswire/ — Raytheon Company (NYSE: RTN) completed a contract milestone when it fired eight Excalibur Ib precision-guided artillery projectiles during a Feb. 27 test.

The firings, which were the first tests witnessed by officials from the U.S. Army program office, were designed to exhibit stable controlled flight and safe muzzle exit. The testing also validated the simulation used to predict the performance of Raytheon’s Excalibur Ib. All test objectives were met, and Excalibur Ib exceeded ballistic accuracy expectations.

“We had a great development and testing plan going into this,” said Steve Bennett, director of Raytheon’s Excalibur program. “Raytheon has been able to move rapidly from design to successful test flights in record time. We expect to meet the U.S. Army’s cost objectives and exceed the incredible performance established by Excalibur Ia.”

The Excalibur Ib design is based on Raytheon’s combat-proven Excalibur Ia. The goal of the Excalibur Ib program is to reduce cost and increase reliability of the projectile. Raytheon’s Excalibur Ib, featuring a new titanium base, uses fewer parts and requires simpler manufacturing. The result is increased reliability and a significantly reduced cost to deliver precision projectiles.

Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.

    Contact:
    Jackie Gutmann
    520.545.8428
    Jaclyn_E_Gutmann@raytheon.com

SOURCE Raytheon Company