Any excess of the conversion value over the fair value of the debt component of the CODES, net of related deferred income taxes, will be recorded as a reduction to shareholders’ equity of the Company. We expect the fair value of the debt component of the CODES to equal its par value.The Bank of New York Mellon (the “Trustee”) has informed the Company that, as of the date of this communication, all custodians and beneficial holders of the CODES hold the CODES through accounts with The Depository Trust Company (“DTC”) and that there are no certificated CODES in non-global form. Accordingly, all CODES surrendered for redemption or conversion must be delivered through the transmittal procedures of DTC. The Trustee is acting both as the Paying Agent and Conversion Agent, each as defined under the indenture governing the CODES, for purposes of the Redemption and any conversion pursuant thereto. In order to receive the Redemption Price for the CODES, a holder must present the CODES for surrender to the Paying Agent at: The Bank of New York Mellon, Corporate Trust – Reorg, 111 Sanders Creek Parkway, East Syracuse, New York 13057, Attention: Adam DeCapio. A Notice of Redemption, which contains information about converting the CODES, is being sent by the Company to all record owners of CODES. Headquartered in New York City, L-3 employs approximately 48,000 people worldwide and is a prime contractor in aerospace systems and national security solutions. L-3 is also a leading provider of a broad range of communication and electronic systems and products used on military and commercial platforms. The company reported 2013 sales of $12.6 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 1995Except 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.