L-3 Communications Acquires International Microwave Corporation.

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 21, 2002

L-3 Communications (NYSE: LLL) announced today that on November 8, 2002 it acquired International Microwave Corporation (IMC), a global communications company that provides wireless communications, network support systems, information technology, defense communications and enhanced surveillance systems.

The total value of the transaction is approximately $40 million in cash, with additional contingent consideration not to exceed $5 million dependent upon the financial performance of IMC in 2003. The acquisition is expected to contribute approximately $50 million to L-3's sales in 2003.

"IMC is very synergistic with L-3 because it adds a significant capability to our extensive line of security systems," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "In addition to being the largest supplier of security systems for airports, cargo and facilities, L-3 also supplies intrusion detection systems for the DoD facilities around the world. By adding IMC to our operations, we have a new customer base for our existing security products as well as the new technologies that we are developing."

"IMC has begun to play a major role in helping the INS Border Patrol monitor the southwestern border of the United States with its sophisticated sensors, command and control and communications technology," continued Mr. Lanza. "Monitoring borders, government facilities, national assets and businesses is a growing niche in the homeland security market, both domestically and internationally, and IMC is well positioned to grow, particularly with the marketing support and research and development funding that L-3 can provide the business."

Headquartered in Norwalk, Connecticut, IMC designs and manufactures a broad range of analog and digital microwave products to meet growing wireless telecommunications needs around the globe. IMC's products include: national law enforcement and air traffic communications systems; integrated surveillance systems; and microwave and wireless loop systems. IMC's principal product is integrated video security and surveillance systems. These systems combine thermal imaging and CCTV cameras and associated control systems with microwave radio technology to provide a perimeter security system. The company is the only prime contractor on the U.S. Government's Remote Video Surveillance (RVS) program, which provides video surveillance for the Immigration and Naturalization Service (INS) and the U.S. Border Patrol (USBP) to monitor and protect U.S. borders. Along with government agencies, IMC's other clients include companies in the private sector, cellular and PCS companies, utilities and telecommunication operators worldwide.

The acquisition further enhances L-3's position in the homeland security market. L-3 recently took an equity stake in Millivision, a millimeter wavelength imaging company. When combined with L-3's existing military millimeter wavelength technology, Millivision's market-leading capabilities will enable L-3 to bring more advanced screening technologies to airports, federal buildings and commercial facilities.

Headquartered in New York City, L-3 Communications is a leading merchant supplier of Intelligence, Surveillance and Reconnaissance (ISR) products, secure communications systems and products, avionics and ocean products, training products, microwave components and telemetry, instrumentation, space and wireless products. Its customers include the Department of Defense, selected US government intelligence agencies, aerospace prime contractors and commercial telecommunications and wireless customers.

To learn more about L-3 Communications, please visit the company's web site at www.L-3Com.com.

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. 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.