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Raytheon-Lockheed Martin Javelin Joint Venture Receives $1.236 Billion Multi-Year Production Contract

TUCSON, AZ, August 8th, 2000 -- The U.S. Army has awarded the Raytheon-Lockheed Martin Javelin Joint Venture a $1.236 billion Multi-Year 2 contract for Javelin Antitank Weapon System production.

The contract covers a four-year period beginning this year and includes 11,805 missiles, 2,968 command launch units (CLUs), 1,990 student and field tactical trainers, and other associated equipment. Javelin is currently in full rate production under the Multi-Year 1 contract, awarded in 1997, and now equips U.S. Army and U.S. Marine Corps combat units.

"Javelin's second multiyear contract ensures America's soldiers and Marines have the Javelin systems necessary for today's wide spectrum of military operations," said William H. Swanson, president of Raytheon Company's Electronic Systems business. "Javelin is the world's premier fire-and-forget medium-range anti-tank weapon system and is a vital part of our future missile business in the U.S. and international markets."

Raytheon, which leads the joint venture, provides system engineering management and support for the Javelin Joint Venture and produces the CLU, missile guidance electronic unit and system software. Work is performed primarily at its Missile Systems business unit in Tucson, and at other Raytheon facilities in Texas, Massachusetts and California.

"Javelin is revolutionizing ground combat, providing unprecedented protection for soldiers and Marines," said Stan Arthur, president of Lockheed Martin Missiles and Fire Control ? Orlando. "In international trials against competing weapons and in battlefield simulations against superior opposition forces, Javelin has always won. Our employees take pride in producing this high quality missile system to protect our troops."

Lockheed Martin provides missile engineering and production support for the Javelin Joint Venture in Orlando, Fla., produces the missile seeker in Ocala, Fla., and performs missile all-up-round assembly in Troy, Ala.

"The Javelin Multi-Year 2 contract is a key event for the U.S. Army and U.S. Marine Corps," said Col. William H. Knox, the Javelin Program Manager. "Javelin is the world's only anti-tank system allowing a single infantryman to engage and defeat any armored vehicle at ranges up to two and a half kilometers. It is the weapon of choice for infantry, special operations, and rapid reaction forces due to its unmatched lethality, versatility, and gunner survivability.

"The award of the Multi-Year 2 contract enables the U.S. government to buy Javelin at significant cost savings over four single-year contracts. It provides the Army and Marine Corps with the systems necessary for force modernization and offers allied nations a great opportunity to procure Javelin under the Foreign Military Sales (FMS) program."

The Javelin medium-range, anti-tank missile system is the world's first one-man transportable and employable fire-and-forget missile system. It replaces the aging, wire-guided Dragon missile in Ranger and Special Operations units, infantry and engineer battalions, and armored scout platoons. Javelin has gained worldwide attention as an optimum anti-tank weapon to support Rapid Reaction Forces. Javelin is approved for international sales through the U.S Army's FMS system and is available to meet national requirements for next-generation anti-armor weapon systems.

The contracting agency is the U.S. Aviation and Missile Command, Redstone Arsenal, Ala. Raytheon Company (NYSE: RTNA, RTNB), 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. Raytheon has operations throughout the United States and serves customers in more than 70 countries.

Nettie Johnson, 407-356-5351
e-mail nettie.r.johnson@lmco.com

Sara Hammond, 520-794-7810