News
Boeing to Team With Raytheon on EP-X Aircraft Program

July 24, 2008, St. Louis — The Boeing Company [NYSE:
BA] today announced that Raytheon has joined its EP-X industry team. EP-X
is a manned airborne intelligence, surveillance, reconnaissance and
targeting aircraft that will replace the U.S. Navy's EP-3 signals
intelligence (SIGINT) platform.

Raytheon, also a member of Boeing's P-8A Poseidon industry team, will
be responsible for EP-X sensor integration and multi-intelligence
integration and play a significant role in core mission systems. Raytheon
joins Argon ST, a leading designer and developer of SIGINT sensors and
information operations systems, on the Boeing EP-X team.

"Raytheon is a great addition to our EP-X team and together with Argon
ST provides unparalleled experience and technical capability," said Paul
Summers, Boeing director of Airborne SIGINT Campaigns. "The Boeing team
understands the challenges and is well-positioned to provide a capable and
cost-effective EP-X solution for the Navy."

The Navy awarded Boeing a $1.25 million EP-X concept refinement
contract in February. Since then, Boeing and Argon ST have been defining
program requirements and developing initial system concepts. As prime
contractor for P-8A, Boeing plans to draw on that program's logistics,
maintenance, support, training and other relevant data for EP-X.

The Navy will solicit proposals for the technology development phase of
the program in the coming months and select contractors for that phase in
2009.