Raytheon Awarded $162 Million For AMRAAM Production.

Business/Aerospace Editors

TUCSON, Ariz.--(BUSINESS WIRE)--March 17, 2000

Raytheon Company (NYSE:RTNA)(NYSE:RTNB) has received a $162 million contract for continued production of the AIM-120 Advanced Medium Range Air-to-Air Missile (AMRAAM). The award was made by the U.S. Air Force Air Armament Center, Air-to-Air Joint Systems Program Office (JSPO), Eglin Air Force Base, Fla.

"I am pleased to announce this important contract award to Raytheon," said Judy Stokley, the Air-to Air JSPO program director. "AMRAAM is the free world's air-to-air weapon of choice, and together we will continue to meet our commitments to U.S. and allied warfighters."

The award is a $162 million firm-fixed price contract for Lot 14 (14th annual) production of 439 AMRAAMs, supporting missile deliveries, program engineering and logistic services through July 2002. Missiles will be produced for the U.S. Air Force (161 missiles) and Navy (90 missiles), and Bahrain and South Korea. The award also covers associated warranties and spares.

"This contract award validates our customer's confidence in our commitment to deliver high quality affordable weapons in defense of freedom," said Charles D. Anderson, vice president of the company's Air-to-Air product line.

Work will be performed at Raytheon's facilities in Tucson, Ariz., and Andover, Mass. Final assembly and delivery will occur in Tucson.

AMRAAM is a software-driven, radar-guided missile that gives pilots the ability to "launch and leave" and to engage multiple targets during a single engagement. More than 10,000 missiles have been produced for U.S. and international customers.

AMRAAM is operational on the F-15, F-16, F/A-18, the German F4F, the United Kingdom's Sea Harrier, as well as the Norwegian Advanced Surface-to-Air Missile System. AMRAAM is currently being integrated on the F-22, EF-2000, JAS-39 Gripen, JA-37 Viggen, Harrier II Plus, Tornado, and the HAWK-AMRAAM system. AMRAAM also has been demonstrated on a High Mobility Multipurpose Wheeled Vehicle-based system, called HUMRAAM.

Raytheon Company, based in Lexington, Mass., is a global technology leader that provides products and services in the areas of commercial and defense electronics, engineering and construction, and business and special mission aircraft. Raytheon has operations throughout the United States and serves customers in more than 80 countries.