I think they are called BLAM - barrel launched adaptive muntion or REAM - Range Extended Adaptive Munition.
More here.
http://www.dtic.mil/cgi-bin/GetTRDoc?AD=ADA432910
You are correct on both counts.BLAM was followed in 1998-99 by the Range-Extended Adaptive Munition ( REAM), an Army effort to design a .50-cal guided sniper bullet.
Sounds like the EXACTO program.
Research laser-guided bullets can be precise to find the target but ...
This laser-guided bullet 4 inches long (about 10.16 cm), point 50 caliber ... for the
development of this laser-guided bullets It is EXACTO part of the project, ...
http://www.9abc.net/index.php/archives/73798 - Cached - SimilarSandia National Laboratories | Danger Room | Wired.com
Video: Self-Guided Bullet Spots, Steers and Nails Its Target (UPDATED) ... In
2008, they scored a $14.5 million contract as part of Darpa’s Exacto program, ...
http://www.wired.com/dangerroom/tag/sandia-national-laboratories/ - Cached - SimilarAttack the System » Rj
In 2008, they scored a $14.5 million contract as part of Darpa’s Exacto program,
which sought to ... Each self-guided bullet is around four inches in length.
http://www.attackthesystem.com/author/rjweapon/ - Cached - Similar