Raytheon Wins $31.4 Million EP-3E Aircraft Modernization Contract

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Raytheon Wins $31.4 Million EP-3E Aircraft Modernization Contract
    VIENNA, Va., June 23 /PRNewswire/ -- Raytheon Company (NYSE: RTN.A, RTN.B)
has been awarded a U.S. Navy contract to provide integration, test,
modification and logistics support for the Joint Signals Intelligence Avionics
Family Modernization (JMOD 1) on the EP-3E aircraft. The contract value is
$31.4 million with options to increase the value to $41.3 million.
    The EP-3E is the U.S. Navy's only land-based signals intelligence
reconnaissance aircraft that provides fleet and theater commanders worldwide
with near real-time tactical signals intelligence. Deploying a joint services
compliant architecture, JMOD 1 provides the EP-3E with new and modified
hardware and software with enhanced communication and processing capabilities.
This upgrade will improve the aircraft's ability to collect and distribute
critical real-time threat data to carrier battle group commanders.
    "We are extremely pleased to be part of the U.S. Navy team that is
upgrading these valuable reconnaissance assets," said Phil LePore, a vice
president of Raytheon Company and chairman and chief executive officer of
Raytheon Technical Services Company. "With JMOD 1 technology, we are laying
the foundation for integrating future joint modernization initiatives that
will provide improved collection and reporting capabilities for fleet
commanders."
    Jim Schuster, president of Raytheon Company's Aircraft Integration
Systems, said, "EP-3E is an important part of Raytheon's business. The
enhancements created by this modification not only allow us to expand our
business base, but also provide EP-3E crews with the very best technology
available."
    Work under the contract will be performed primarily at Raytheon facilities
in Indianapolis, Ind., and Waco, Texas. Delivery of the modified aircraft is
scheduled for September 2001.
    Raytheon Company, based in Lexington, Mass., is a global technology leader
that provides products and services in the areas of commercial and defense
electronics and business and special mission aircraft. It has operations
throughout the United States and serves customers in more than 80 countries.

     Contact:
     Bob Valentine
     703-918-6922
SOURCE Raytheon Company
http://www.raytheon.com
CONTACT:
Bob Valentine of Raytheon Company,
703-918-6922