Raytheon Marine Company and Samsung Heavy Industries Enter Into Cooperative Agreement for Integrated Bridge System Development.

Business/Technology Editors

NASHUA, N.H.--(BUSINESS WIRE)--March 6, 2000

Raytheon Marine Company (RMC) announced today that it has entered into a cooperative agreement with Samsung Heavy Industries (SHI) to integrate key components of Raytheon's Integrated Bridge System into Samsung's Naru 2000, an ECDIS (Electronic Charting Display and Information System) based Integrated Navigation System.

This agreement marks the beginning of a new strategy underway at Raytheon Marine to capture more business in Asian markets where a large portion of the industry's shipbuilding occurs. As a result of the agreement with Samsung, Raytheon Marine expects to bring in up to $10 million per year in new sales revenue.

"Samsung has chosen Raytheon Marine as part of the NARU 2000 team because their products represent the very best in state-of the-art technology," said H.K. Lee, president of Samsung Heavy Industries. "Raytheon is well recognized for its high levels of reliability and service, offering the industry's most extensive global service network."

Samsung's Naru 2000, a fully integrated navigation system designed for commercial vessels, features ground breaking safety oriented technologies, such as a Weather Information System and a Collision Avoidance System. The Weather Information System enables navigators to maximize route planning around changing weather conditions. The Collision Avoidance System enhances ship safety by utilizing sophisticated computer simulation to identify and avoid potential hazards far in advance.

Raytheon Marine products to be integrated into the NARU 2000 include the Standard 20 Gyro Compass, the Pathfinder/ST MK2 radar and the NautoPilot 2000. The Standard 20 Gyro Compass offers a self-adjusting, serial heading transmission system with the highest heading accuracy in the maritime business. The Pathfinder/ST MK2, the first radar system to pass type approval based on most recent IMO standards, provides rain de-blurring through the patented Raytheon "Rain Rate Control" technology. Raytheon Marine's Nautopilot 2000 is a versatile, digital autopilot, intended for sea and river going vessels of all sizes.

"We believe that the unique combination of products created by this agreement with Samsung represents the next generation in navigation solutions," said Richard P. Vatcher, vice president of Raytheon Marine, High Seas.

Samsung Heavy Industries, a business unit of the Korean-based, $21 billion flagship-company, Samsung Group, is a world leader in the shipbuilding sector. The company builds commercial ships, including special purpose ships, such as shuttle tankers, drill ships for deep water and passenger ships. Samsung is also expanding its new business area in ship automation and navigation systems. Samsung Heavy Industries employs more than 8,500 people and has 15 branch offices and two manufacturing subsidiaries around the world.

Raytheon Marine, a unit of Raytheon Company, is dedicated to the manufacture and distribution of the highest quality marine electronic products and services to the worldwide merchant shipping, government, commercial fishing and recreational boating markets. With plants in Nashua, N.H., Kiel, Germany, and Portsmouth, United Kingdom, Raytheon Marine employs more than 1,000 people and supports the worldwide shipping fleet via more than 230 sales and service stations around the world.

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.