The 440 was one of the original Technium models, introduced in 1986. Raleigh offered 3 Technium models that year, all with the same frame, but various components. The 440 was the lowest model, costing $250 US, Weight should be about 25 lbs, depending on the exact year/component mix and size.
The first 440/460/480 frames were designed for the avid sports/touring cyclist. Raleigh wanted a light and stiff but efficient and affordable frame. To achieve the weight and stiffness they went with an oversize aluminum main triangle. To keep cost down they used a steel rear triangle. So as not to make the size difference between the main tubes and stays aesthetically displeasing, they limited the main tubes to slightly oversize. Additionally to ensure light weight and resiliency, the main tubes were spec'd using heat treated 6013 aluminum which is thinner and higher strength than the standard 6061. However, this meant the tubes had to be bonded instead of welded. The rear triangle were maded in Japan and assembled to the main frames in the USA. Raleigh liked to claim that the resulting ride was comparable to "Reynolds 531 models, only more comfortable". This is open to argument.
Like most bicycles, some people loved the Techniums, while others did not. And we've all heard the stories of frame failures, though I personally do not have any first hand knowledge. One thing is certain, they were pioneers in hybrid construction and brought affordable aluminum to the masses. In many ways this bicycle was the forerunner of the aluminum/carbon fibre hybrid models that dominate the market to-day. It was the first truly afforadble aluminum (albeit hybrid) bicycle and was one of the trendsetting models that would ultimately lead to the demise of steel as the dominant frame material.