U.S. Army Awards Raytheon-Boeing Team $125 Million Contract for Joint Air-to-Ground Missile

U.S. Army Awards Raytheon-Boeing Team $125 Million Contract for Joint Air-to-Ground Missile

TUCSON, Ariz., Sept. 22, 2008 /PRNewswire-FirstCall/ -- The U.S. Army
awarded Raytheon Company (NYSE: RTN) and Boeing (NYSE: BA) a $125 million contract for the Joint Air-to-Ground Missile program. The contract funds a 27 month technology development program to develop and fire three prototype missiles with fully integrated tri-mode seekers.

"There is an urgent warfighter need to field this system and meet
future needs," said John Weinzettle, Raytheon's JAGM program director. "The goal of the Raytheon-Boeing JAGM team is to deliver an affordable, reliable and complete system solution that can be integrated into the program's six required aircraft."

The JAGM program will produce a single missile solution for rotary- and
fixed- wing platforms and unmanned aircraft. It is designed to defeat
moving and stationary targets at extended ranges in all weather conditions.

The Raytheon-Boeing JAGM team brings mature, advanced seeker and
missile technologies to the program. The team also has decades of fixed-
and rotary-wing integration expertise. The expected JAGM in-service date is 2016, and Raytheon is the prime contractor.

"The Raytheon-Boeing JAGM team offers the U.S. Army, Navy and Marine
Corps an outstanding track record of performance in weapons program
development, while delivering reliable products on time and on cost," said Carl Avila, director, Advanced Weapons, Boeing Integrated Defense Systems.

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