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U.S. Army Awards $42.7 Million Contract to Raytheon for Excalibur Production

TUCSON, Ariz., June 21, 2006 /PRNewswire/ -- The U.S. Army awarded Raytheon Company a $42.7 million contract for fiscal year 2006 production of tactical Excalibur projectiles and related test articles and services.

Excalibur -- a cooperative effort between Raytheon Missile Systems and BAE Systems Bofors of Sweden -- is an artillery projectile that uses satellite guidance to provide precision accuracy at extended ranges for all current and future 155 mm howitzers.

Raytheon will provide Excalibur projectiles, testing, manufacturing tooling, test and inspection equipment, projectile shipping and storage containers and training support necessary to sustain early fielding (EF). Initial early fielding is to be provided by the fiscal year 2005 production contract. The fiscal year 2006 contract will provide 335 tactical Excalibur rounds in addition to other services and test articles.

"The U.S. Army is anxious to get this capability to the warfighter; this award is essential to sustain the anticipated EF program," said Col. John Tanzi, the Army's TRADOC (U.S. Army Training and Doctrine Command) system manager for Cannons, Fort Sill, Okla.

This contract follows months of testing during which Excalibur demonstrated an accuracy of 4.5 meters (about 14.8 feet) in 12 successful guided flights. The tests successfully demonstrated the three fuzing modes (delay, height-of-burst, and point detonate) and warhead lethality.

Lethality has been proven against wheeled and tracked lightly armored military systems, simulated personnel targets and a steel reinforced concrete structure. Against the concrete structure, Excalibur successfully penetrated the roof, detonating inside the structure and causing impressive damage to the simulated target array.

Raytheon Missile Systems is the leading developer of guided projectiles, including Excalibur and the Navy's Extended-Range Guided Munition (ERGM). These projectiles will provide U.S. forces with precision munitions capability that is required on the battlefield. Both systems will provide enhanced lethality and accuracy, while minimizing collateral damage in the complex urban environment.

Excalibur and ERGM leverage many common components and supplier partnerships and apply industry best practices to produce two low-cost and reliable weapon systems that will meet or exceed all customer-defined requirements.

Raytheon Company (NYSE: RTN), 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:
Everett Tackett, APR
520.794.9494