Raytheon Company Appoints S. Michael Scheeringa Chief Executive Officer, Flight Options

WALTHAM, Mass., Jan. 26, 2006 /PRNewswire-FirstCall/ -- Raytheon Company announced today the appointment of S. Michael Scheeringa to the position of chief executive officer at Flight Options, the company's fractional ownership entity. From February 2004, Scheeringa served as Flight Options' chief operating officer and has served as acting chief executive officer since November 2004.

"Michael is a proven leader," said William H. Swanson, chairman and CEO of Raytheon Company, "as is evident in the progress Flight Options has made on its Go Forward business plan. We believe he has the background, drive and innovative ideas to lead Fight Options forward in a highly competitive industry."

Prior to joining Flight Options, Scheeringa served as US Airways' vice president, Express Division. At US Airways, he had previously held a series of officer-level positions managing the areas of customer service, operations and corporate planning, in addition to overseeing the MetroJet and the US Airways Shuttle divisions. He has more than 17 years of experience in the aviation industry. Scheeringa holds a Bachelor of Science degree in transportation and logistics management from Arizona State University.

Based in Cleveland, Ohio, Flight Options, LLC offers the complete spectrum of programs from fractional ownership to leasing to JetPASS membership and has received the prestigious ARG/US Platinum Safety Rating twice. The Flight Options fleet of approximately 200 aircraft includes the world's largest fleets of Beechjet 400A's and Legacy Executive aircraft. Flight Options' fleet consists of the Beechjet 400A/Hawker 400XP, Hawker 800XP, Citation X and Legacy.

Raytheon Company , with 2004 sales of $20.2 billion, is an industry leader in defense and government electronics, space, information technology, technical services, and business and special mission aircraft. With headquarters in Waltham, Mass., Raytheon employs more than 80,000 people worldwide.

Contact Steve Brecken 781.522.5127

First Call Analyst: FCMN Contact: brecken@raytheon.com