Flight Options Press Release

Flight Options Names Cameron Gowans, Chief Marketing Officer

CLEVELAND (August 10, 2004) - Flight Options, LLC, a leading provider of fractional shares in business aircraft and an affiliate of Raytheon Company (NYSE: RTN), announced today that the company has named Cameron Gowans as chief marketing officer. Gowans will be responsible for leading the Flight Options marketing team and be instrumental in the development and execution of new products to the marketplace.

“Cameron’s industry knowledge, leadership skills and expertise in developing and executing successful sales and marketing programs will be key to our continued growth and success,” said John Nahill, chairman and chief executive officer, Flight Options, LLC.

“This is a tremendous opportunity to work with an excellent team of aviation professionals,” said Gowans.  “Flight Options was appealing on many levels: an established industry leader, more than 200 aircraft and numerous opportunities to offer the company’s high levels of safety and service through a variety of products and programs.”

Gowans, whose sales and marketing background includes fractional, membership and whole aircraft, most recently served as vice president, sales and marketing for Delta AirElite Business Jets.  His industry experience includes positions with Canadair Challenger, Gulfstream Aerospace, Innotech-Execaire, the exclusive Cessna-Citation distributor for Canada, and Avolar.   Gowans received a Bachelor of Commerce Degree from the University of Calgary (Canada). He also holds a commercial Multi Engine IFR pilot license.

Based in Cleveland, Ohio, Flight Options, LLC is the world’s fastest-growing provider of private jet travel solutions. The company offers the complete spectrum from fractional ownership, leasing and membership options and has received the prestigious ARG/US Platinum Safety Rating twice. The Flight Options fleet of more than 215 aircraft includes the world’s largest fleets of King Air’s, Beechjet 400A’s and Hawker 800’s. The fleet also includes the CitationJet, Hawker 400XP, Citation V, Citation 650, Falcon 50, Citation X, Challenger 601, Legacy and Gulfstream IV. More information at www.flightoptions.com."

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