L-3 Communications Initiates Redemption of All of Its Remaining Outstanding 6⅜% Senior Subordinated Notes Due 2015

NEW YORK--(BUSINESS WIRE)--

L-3 Communications Holdings, Inc. LLL announced today that L-3 Communications Corporation, its wholly owned subsidiary, has initiated a redemption of its remaining outstanding $250 million of 6⅜% Senior Subordinated Notes due in 2015 (the “Notes”).

The Notes will be redeemed on October 15, 2012 (the “Redemption Date”), at a redemption price of 101.063% of the principal amount thereof, plus accrued and unpaid interest, to but not including the Redemption Date. On or before October 15, 2012, the Notes should be presented to The Bank of New York Mellon, as paying agent for the redemption, at the address set forth in the Notice of Redemption for the Notes. The Notice of Redemption for the Notes was sent to all registered holders on September 13, 2012. Interest on the Notes will cease to accrue on and after the Redemption Date and the only remaining right of holders of the Notes is to receive payment of the redemption price upon surrender to the paying agent, plus accrued and unpaid interest, to but not including the Redemption Date.

In connection with the redemption of the Notes, the company will record a debt retirement charge of approximately $5 million ($3 million after income taxes, or $0.03 per diluted share) in the fourth quarter of 2012.

This press release shall not constitute a notice of redemption of the Notes.

Headquartered in New York City, L-3 employs approximately 51,000 people worldwide and is a prime contractor in C³ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, aircraft modernization and maintenance, and national security solutions. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms.

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.