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Taiwan Agrees to Purchase Raytheon-Lockheed Martin Javelin Anti-tank Weapon System

TUCSON, AZ, July 24th, 2002 -- The U.S. Army has executed a Letter of Agreement (LOA) paving the way for the sale of the Javelin anti-tank weapon system to Taiwan.

The agreement with the government of Taiwan, signed in Washington D.C. June 22, represents the first major sale of Javelin in the Pacific region. It is expected to result in an award to the Raytheon-Lockheed Martin Javelin Joint Venture of approximately $39 million. This is the Javelin Joint Venture's fourth international sale, which follows purchases in late 2001 by Jordan and Lithuania and an undisclosed country.

The sale includes more than 360 missiles and 40 command launch units, training devices, logistics support, associated equipment and training.

"Javelin ensures that the Taiwanese armed forces have the world's best anti-tank weapon with highest soldier survivability and system lethality, at the lowest support and life cycle cost," said Col. John Weinzettle, U.S. Army Close Combat Missile Systems (CCMS) project manager. "Javelin's multi-mission capabilities give infantry soldiers the means to engage alternate targets, such as field fortifications, buildings, helicopters, landing craft and small boats," he said.

"Javelin is ideally suited for the Taiwanese Army and we are extremely pleased to introduce Javelin to the island nation," stated Mike Crisp, president, Javelin Joint Venture. "With its sophisticated missile seeker and tracker, the lightweight, one man-transportable Javelin anti-armor weapon system has consistently demonstrated a greater than 90 percent first-time gunner success rate."

"Javelin's long-wave infrared seeker is resistant to countermeasures and battlefield obscurants, which is critical in combat," said Howard Weaver, Javelin Joint Venture vice president. "Javelin is also safe to fire from enclosures and it can be fired three times in less than 90 seconds. These features, which no other system has demonstrated, make Javelin the best choice for Taiwan and others in the international defense community."

Raytheon Company, 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, Ariz., and at other Raytheon facilities in Texas, Massachusetts and California.

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 medium-range, anti-tank missile system is the world's first one man-transportable and employable fire-and-forget anti-armor missile system. Javelin is approved for international sales through the U.S. Army's Foreign Military Sales system and is available to meet national requirements for next-generation anti-armor weapon systems.

With headquarters in Lexington, Mass., Raytheon Company (NYSE: RTN) is a global technology leader in defense, government and commercial electronics, and business and special mission aircraft.

Lockheed Martin Missiles and Fire Control
Nettie Johnson 407-356-5351, e-mail, nettie.r.johnson@lmco.com

Raytheon
Jennifer Spears 520-794-4182



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