NetJets Purchases Further 48 Hawker Aircraft

Released on Monday, January 15, 2007

Raytheon Aircraft Company has signed additional orders with NetJets® Aviation and NetJets Europe -- valued at more than $500 million -- for the purchase of 48 additional Hawker® aircraft for their European and U.S. operations. Combined with the NetJets order for 48 aircraft announced at the National Business Aviation Association (NBAA) Convention in October, 2006, these two orders are now worth more than $1 billion.

Deliveries under the initial order for the Hawker 900XP will begin in 2007 and continue through 2009; deliveries under the new follow-on order will run from 2009 through 2012. Deliveries under the initial order for the Hawker 750 will begin in 2008 and continue through 2009, while deliveries under the new follow-on order will run from 2010 through 2011.

The Hawker 750 and Hawker 900XP were formally launched in October at NBAA. Both aircraft will be derived from the Hawker 800-series airframe, well known for its cabin, extended range, exceptional payload capabilities, reliability and comforts unique to the Hawker brand.

The new Hawker 750 will be a 2,100 nautical mile (approximately 2,417 miles) NBAA IFR- range airplane with four passengers, strategically positioned with the largest cabin in the light-mid size aircraft segment. Ideally suited to the European market, it will offer customers a mid-size cabin and comforts at a light-mid price, with a range capable of achieving multiple-city visits in one day.

The Hawker 900XP will launch Honeywell's new TFE731-50R engine providing improved hot and high-altitude performance. With more than 2,800 nautical miles (approximately 3,222 miles) NBAA IFR range with six passengers, the Hawker 900XP is able to make a one-stop flight from New York to Honolulu 99.9 percent of the time. With increased climb, cruise and fuel efficiency performance, as well as the largest and most successful cabin in its class, the 900XP will be well positioned to continue to be the most preferred airplane in the mid-size segment.

"This is outstanding news and a great day for the employees of Raytheon Aircraft Company," said Jim Schuster, chairman and CEO. "This additional order from NetJets highlights its confidence in the quality and performance of our products. We have clearly identified the right solution for the fractional customer in the mid-light and mid-size segments with these two new Hawker aircraft."

"We are delighted with the value proposition the Hawker 750 and 900XP brings to our NetJets customers," said Richard Santulli, chairman, NetJets Inc. He added: "This order for 48 additional Hawker aircraft will help NetJets meet its increased demand for private aviation solutions in Europe and the U.S. The Hawker 900XP will be an integral part of our Columbus-based NetJets Aviation program. It complements our existing fleet in the U.S., providing our owners with greater choice and longer range, while continuing to maintain the high standards that have made NetJets the market leader. The Hawker 750 is a fantastic fit for our European customers enhancing our NetJets Europe fleet. If you couple that with the broad customer support coverage provided by Raytheon Aircraft Company, we have a winning solution for our customer base."

Raytheon Aircraft Company designs, manufactures, markets and supports Beechcraft and Hawker aircraft for the world's commercial and military markets. Raytheon Company, with 2005 sales of $21.9 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 80,000 people worldwide.