Lockheed Martin and Raytheon Partner for GMD Development and Sustainment Contract

HUNTSVILLE, Ala., and TUCSON, Ariz., 08/05/2010 --

Lockheed Martin (NYSE: LMT) and Raytheon Company (NYSE: RTN) announced today that they are partnering to pursue the U.S. Missile Defense Agency's Ground-Based Midcourse Defense (GMD) Development and Sustainment Contract.

Together, Lockheed Martin and Raytheon develop, produce and sustain leading interceptor weapon systems for missile defense. As strategic partners for GMD Development and Sustainment, the companies will apply their proven experience to ensure the reliability and readiness of the GMD element of the Ballistic Missile Defense System, which defends our nation, deployed military forces, and friends and allies against a limited attack by intermediate- and long-range ballistic missiles.

"Lockheed Martin and Raytheon are continuing a successful track record of delivering on key missile defense programs," said Mathew J. Joyce, GMD vice president and program manager, Lockheed Martin Space Systems Company. "Lockheed Martin and Raytheon systems combined have achieved more than 50 intercepts in combat and testing – more than any other team." These systems include Terminal High Altitude Area Defense, Aegis Ballistic Missile Defense including Standard Missile-3, Patriot and Patriot Advanced Capability-3, and GMD Exoatmospheric Kill Vehicle.

"In addition to our highly successful Standard Missile-3 interceptor and our proven GMD Exoatmospheric Kill Vehicle expertise, Raytheon brings important capabilities in manufacturing, mission assurance and readiness that will help to ensure a smooth transition in responding to the government's needs for this critical national system," said Frank Wyatt, Raytheon vice president of Air and Missile Defense Systems.

As a strategic partner to Lockheed Martin, Raytheon's role will span systems engineering, development, manufacturing, testing, training and operations and sustainment at all of the key GMD sites. For this next phase in the GMD lifecycle, the Lockheed Martin-Raytheon team has the most experience, is the best qualified, and provides the greatest value to ensure our warfighters have a ready and capable interceptor weapon system.

Lockheed Martin and Raytheon's credentials for GMD Development and Sustainment include more than 30 years of experience in missile defense development, production, testing and fielding, more than 50 years of experience in strategic weapon system operations and sustainment, and award-winning performance-based logistics expertise.

Lockheed Martin and Raytheon are dedicated to an open government-industry partnership that ensures responsiveness and mission focus. The GMD Development and Sustainment Contract will entail development, manufacturing, test, training, operations support and sustainment support of the GMD element. Work will be performed in Huntsville, Ala., at Fort Greely, Alaska, Eareckson Air Station, Alaska, Schriever Air Force Base, Colo., and Vandenberg Air Force Base, Calif.

The Lockheed Martin GMD team also includes Alaska Aerospace Corporation and NANA Development Corporation. Lockheed Martin will announce additional teammates in the coming weeks.

The Missile Defense Agency issued an amended draft request for proposals for GMD Development and Sustainment May 14 and has announced that it will issue a final request for proposals this summer and award the contract in 2011.

Raytheon Company, with 2009 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 88 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 75,000 people worldwide.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 136,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's 2009 sales from continuing operations were $44.5 billion.

Media Contacts:

Media Contacts:

Lynn Fisher, Lockheed Martin, 408-742-7606; lynn.m.fisher@lmco.com
John Patterson, Raytheon, 520-794-4559; John_B_Patterson@raytheon.com

For additional information, go to: www.lockheedmartin.com/gmd