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Raytheon, UAE sign $76.5 million Rolling Airframe Missile Contract

LOUISVILLE, Ky., June 5, 2007 /PRNewswire/ -- Raytheon Company (NYSE: RTN) and Abu Dhabi Ship Building of the United Arab Emirates have signed a contract for the sale of seven Rolling Airframe Missile Guided Missile Weapon Systems.

The direct commercial sale, valued at $76.5 million, calls for the systems to be delivered starting in December 2007 and installed on six Baynunah corvettes. The agreement provides for an on-shore Rolling Airframe Missile test and training system, logistical support and other services.

Rolling Airframe Missile is a supersonic, lightweight, quick-reaction, fire-and-forget missile that provides defense against anti-ship cruise missiles, airborne threats and hostile surface craft. Included in the Rolling Airframe Missile Guided Missile Launching System is a 21-round launcher with supporting below-deck controls and intuitive control interface. The Rolling Airframe Missile's autonomous dual-mode passive radio frequency and infrared guidance design provides a high firepower capability for engaging multiple threats simultaneously. Produced in partnership by Raytheon and RAMSYS of Germany, Rolling Airframe Missile is aboard nearly 100 ships as an integral self-defense weapon for the navies of the United States, Germany, Greece, Korea and Egypt.

"The Rolling Airframe Missile Guided Missile Weapon System is the world's most cutting-edge ship self-defense armament and has been specifically designed to provide exceptional protection for ships of all sizes," said Todd Callahan, Raytheon Missile Systems program director for Rolling Airframe Missile. "The Rolling Airframe Missile weapon system has been in more than 150 flight tests, with a success rate greater than 95 percent. This extremely high reliability is the culmination of years of development and design improvements resulting in unparalleled capability."

Raytheon Company, with 2006 sales of $20.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 85 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.

John Eagles
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