Raytheon Awarded $229.8 Million Contract to Replace Florida Tolling Points

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Raytheon Awarded $229.8 Million Contract to Replace Florida Tolling Points
    WASHINGTON, Oct. 19, 2006 /PRNewswire-FirstCall/ -- Raytheon Company
(NYSE: RTN) has been awarded a $229.8 million contract to partner with
Florida's Turnpike Enterprise (FTE) to supply electronic toll collection
systems in the state for the next 10 years.
    Raytheon will provide 835 lanes of toll equipment, a central processing
and audit system, and open road tolling technology. The Florida system will
be modeled after the highly successful Highway 407 system in Toronto,
Canada, which was pioneered by Raytheon nearly 10 years ago. Installation
is scheduled to be completed within four years, and Raytheon will remain
under contract for the following six years for related tasks.
    "Florida's Turnpike Enterprise is very pleased to partner with Raytheon
Company as we update our revenue collection systems," said Evelio Suarez,
FTE director of toll operations. "We view this significant re-investment in
technology as a necessary step in meeting our key goals of delivering
transportation value, service, and innovation to our customers."
    FTE manages a 612-mile system of limited-access toll highways. The
current toll system is a hybrid consisting of lane-based cash and
electronic tolling elements. Its mainline Turnpike passes through 11
counties from north Miami to a junction with Interstate 75 in central
Florida. FTE also owns or operates other toll road systems throughout the
state.
    "This contract continues our leadership in global transportation and
security solutions," said Andy Zogg, Raytheon vice president of Airspace
Management and Homeland Security. "Raytheon operates more than 220 tolling
points on three continents, as the most experienced supplier of electronic
open road tolling points in the world.
    "Raytheon's global transportation and security business includes air
traffic management systems that safely control one third of the world's
skies and security of airports and critical infrastructure around the
world."
    Raytheon Company, with 2005 sales of $21.9 billion, is an industry
leader in defense and government electronics, space, information
technology, technical services, and business and special mission aircraft.
With headquarters in Waltham, Mass., Raytheon employs 80,000 people
worldwide.
    Contact:
    Lynford Morton
    571.239.8280
SOURCE Raytheon Company
http://www.raytheon.com/
CONTACT:
Lynford Morton of Raytheon, +1-571-239-8280