Raytheon Strategically Realigns Commercial Electronics Businesses

LEXINGTON, Mass., December 20, 2002 Raytheon Company announced that it will eliminate its 20- person Raytheon Commercial Electronics (RCE) business headquarters located in Lexington, Mass., and reassign its commercial electronics businesses to its government and defense business units. This action will properly align the natural synergies of each individual commercial electronics business with the appropriate Raytheon Company government and defense business.

This action is effective Jan. 1, 2003.

The RCE businesses will transition as follows:

-- Raytheon Marine High Seas, located in Kiel, Germany, and RF Components, located in Andover, Mass., will transition into Integrated Defense Systems of Tewksbury, Mass.
-- Raytheon Commercial Infrared, located in Dallas, Texas, and ELCAN, headquartered in Midland, Ontario, and its divisions in Richard, Texas and Malaga, Spain, will transition into Network Centric Systems of McKinney, Texas.

Jack Wohler, 61, president, Raytheon Commercial Electronics, has announced his retirement effective the end of January. "Jack completes his career after doing a terrific job in helping to improve our commercial businesses," said Daniel P. Burnham, Raytheon chairman and chief executive officer.

Based in Lexington, Mass., Raytheon Company is a global technology leader in defense, government and commercial electronics, and business and special mission aircraft.

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