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L-3 Communications Announces Pricing of Senior Note Offering

NEW YORK--(BUSINESS WIRE)--Nov. 18, 2011-- L-3 Communications Holdings, Inc. (NYSE: LLL) announced today that L-3 Communications Corporation, its wholly owned subsidiary, has priced an offering of $500 million of 3.95% Senior Notes due November 15, 2016. The notes are being offered in a registered offering pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”).

L-3 intends to use the net proceeds from the offering, together with cash on hand, to redeem $500 million of the company’s outstanding $1 billion aggregate principal amount of 6 3/8% Senior Subordinated Notes due 2015.

The notes will be unsecured senior obligations of the company and will rank equally with all of its other unsecured senior indebtedness. The notes are being offered pursuant to the company’s existing shelf registration statement, which became automatically effective upon filing with the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the Securities and Exchange Commission. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Deutsche Bank Securities Inc., Scotia Capital (USA) Inc., SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for this offering. Copies of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained from: (i) Barclays Capital Inc. at 1-888-603-5847 or barclaysprospectus@broadridge.com, (ii) Merrill Lynch, Pierce, Fenner & Smith Incorporated at 1-800-294-1322 or dg.prospectus_requests@baml.com, or (iii) Deutsche Bank Securities Inc. at 1-800-503-4611.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Headquartered in New York City, L-3 Communications employs approximately 61,000 people worldwide and is a prime contractor in C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, aircraft modernization and maintenance, and government services. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms. The Company reported 2010 sales of $15.7 billion.

To learn more about L-3, please visit the Company’s website at www.L-3com.com. L-3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L-3 is routinely posted on the Company’s website and is readily accessible.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "will," "could" and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company's Safe Harbor Compliance Statement for Forward-Looking Statements included in the company's recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.

Source: L-3 Communications Holdings, Inc.

L-3 Communications
Corporate Communications
212-697-1111