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L-3 Acquires Airborne Technologies, Incorporated, Expands Unmanned Aircraft Systems Capability

NEW YORK, Aug 09, 2010 (BUSINESS WIRE) -- L-3 Communications (NYSE: LLL) announced today that it acquired Airborne Technologies, Incorporated (ATI) on August 4, 2010. ATI provides highly specialized aeronautical engineering expertise, manufacturing and operations support for unmanned aircraft systems (UAS). Headquartered in Ashburn, Va., ATI's products are applicable to the intelligence, defense and commercial aerospace communities. The terms of the transaction were not disclosed.

The acquisition was structured as an asset purchase for income tax purposes. ATI is expected to generate approximately $20 million of sales for the twelve months ending December 31, 2010.

"ATI will enhance L-3's overall position as a UAS solutions provider, adding to our portfolio of platforms, components and technologies available for our customers," said Michael T. Strianese, chairman, president and chief executive officer. "ATI is a leading innovator and platform provider in the small expendable UAS (SEUAS) area, and we look forward to expanding L-3's presence in this emerging, high growth market."

ATI will expand L-3's ability to serve additional key precision engagement market segments, including precision-guided unmanned systems. Currently, ATI is supporting several Department of Defense programs, and the company is a prime contractor in production of an air-launched small expendable UAS. This program will enhance L-3's UAS portfolio and aligns with the company's precision engagement market growth strategy.

Headquartered in New York City, L-3 Communications employs approximately 67,000 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 2009 sales of $15.6 billion.

To learn more about L-3, please visit the company's website at http://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.