News Release

Republic of Korea Navy Awards Raytheon $65.5 Million for Phalanx

LONDON, Sept. 12, 2011 /PRNewswire via COMTEX/ --

Raytheon Company (NYSE: RTN) signed a $65.5 million contract to deliver five Phalanx Block 1B Close-In Weapon Systems to the Republic of Korea Navy for the new Ulsan-1 class FFX ship program.

The direct commercial sale calls for the systems to be installed on the 2,300-ton frigate-class ships starting in April 2013, and represents Phalanx's largest sale to the ROK fleet.

"Phalanx is uniquely suited for the littoral environment in which the Korean fleet operates," said Rick Nelson, vice president of Raytheon Missile Systems' Naval Weapon Systems product line. "Thanks to its multi-spectral sensor suite, Phalanx can terminally engage all threats in a multi-path, land clutter and glint environment. With Phalanx on board, the South Korean fleet will have the best possible ship self-defense available."

Phalanx is a rapid-fire, computer-controlled radar and 20 mm gun system that automatically acquires, tracks and destroys enemy threats that have penetrated all other ship defense systems. More than 890 systems have been built and deployed in the navies of 25 nations.

The Republic of Korea's new FFX ship class will replace the current Ulsan and other smaller frigates. Ulsan-1 is designed for anti-ship, anti-submarine and anti-aircraft warfare.

Raytheon Company, with 2010 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 89 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 72,000 people worldwide.

www.raytheon.com

Contact:
John Eagles
502.364.6768 - office
502.727.9391 - mobile

SOURCE Raytheon Company