L-3 Communications Agrees to Acquire Two Products Companies.

NEW YORK -- Cincinnati Electronics, a World-Class Infrared and Space Electronics Sub-Systems Provider and Brashear, a World Leader in Electro-Optical Systems

L-3 Communications (NYSE: LLL) announced today that it has entered into agreements to acquire two companies that will enhance L-3's product offerings. On June 15, 2004, L-3 entered into an agreement to acquire Cincinnati Electronics for approximately $172 million in cash. The Cincinnati Electronics acquisition is subject to regulatory approval and is expected to be completed in July, 2004. Additionally, in a separate transaction, L-3 acquired Brashear, LP on June 14, 2004 for approximately $36 million in cash. Both acquisitions are expected to be slightly accretive to L-3 Communications' results for 2004.

"Cincinnati Electronics' infrared (IR) and space electronics operations and Brashear's electro-optical systems meet our model for acquisitions that add significant value to L-3 with their new products, considerable market penetration and substantial synergies with our existing product lines," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "Both operations have strong engineering teams, world-class technologies, a blue-chip customer base and solid positions on key platforms. The present management teams at both companies are excellent and will benefit from the growth opportunities offered by L-3's market position and resources."

Cincinnati Electronics

With locations in Mason, Ohio and Pasadena, California, Cincinnati Electronics' IR and space sub-systems operations are world-class leaders in military IR imaging sensors and sub-systems and space launch electronic sub-systems electronics for the U.S. Army, U.S. Air Force, U.S. Navy and U.S. Marine Corps, as well as for top U.S. and international prime contractors. In addition, these operations provide IR components, electronics, and systems reconnaissance, navigation and missile seekers for a number of U.S. launch vehicles and spacecraft electronic niche markets.

The IR and space electronics products of Cincinnati Electronics are on a number of key platforms, including the Delta LV, Joint Air to Surface Standoff Missile (JASSM), Sidewinder missile, C-130 gunship, Aegis destroyer, Joint Strike Fighter (JSF), Mars Rover and Orbiter and the Atlas V. Cincinnati Electronics is also a major provider of InSb band arrays for space and intelligence imaging systems and a variety of sensor applications.

Mr. Lanza noted that both operations are synergistic with L-3's existing military imaging and telemetry businesses. "This acquisition gives L-3 the opportunity to participate in many highly classified military programs and it also allows us to market other synergistic products from L-3 into this niche of the military market."

Cincinnati Electronics' IR products are high-definition imaging products/systems in compact modular designs that provide horizontal integration into a variety of battlespace requirements on land, sea and air. The IR imaging sensors allow commanders the flexibility of rapid deployment in existing battle platforms, as well as specialized configurations suited to today's most demanding new mission profiles.

Cincinnati Electronics' space electronic assets specialize in the design, manufacture and marketing of high-reliability electronic equipment specially designed and qualified for use on missiles, launch vehicles and spacecraft. Recent innovations include High Data Rate X-Band Payload Modulators and Transmitters, Spacecraft Tracking and Data Relay Satellite System (TDRSS) compatible S-Band Transmitters for launch vehicles, tracking, telemetry and command (TT&C) transponders incorporating state-of-the-art radio frequency (RF) and digital circuitry. Transponders are compatible with U.S. Air Force Space-Ground Link Subsystem (SGLS) and NASA TDRSS. Houlihan Lokey Howard & Zukin served as financial advisor to L-3 in this transaction.

As part of the transaction, Cincinnati Electronics has entered into a long-term supply and development agreement with CMC Electronics, Cincinnati Electronics' current owner, to support CMC Electronics' commercial and government Enhanced Vision System program by the supply of current and next generation infrared sensors. This relationship will provide L-3 with an opportunity to partner with a leading avionics integrator in the emerging market of improving situational awareness for aircraft pilots.

Brashear, LP

Located in Pittsburgh, PA, Brashear is a leading developer and supplier of complex electro-optical systems for military and international customers, as well as prime aerospace contractors. In operation for over 120 years, the company designs and manufactures electro optical systems including, laser ranging and tracking systems, test range instrumentation, telescope systems, naval fire control systems and laser beam directors.

"Brashear adds new capabilities to our expanding role in advanced optics, which already includes our Wescam division, a leading producer of wireless visual information systems. Brashear's synergy with our sensor group also allows us to expand our marketplace for our existing global positioning systems, navigation products and telemetry and instrumentation," said Mr. Lanza. He also noted that Brashear precision products are key components of stabilized electro-optic platforms and the company integrates electro-optic/infrared instrumentation products for range tracking, fire control and airborne lasers.

"Brashear has many key programs that will be complementary to L-3's, and we look forward to leveraging L-3's strength as we transition to production on programs such as the XM116 Small Arms Fire Control," said Dawn Rucker, chief operating officer of Brashear.

Along with its other products, Brashear currently provides beam forming optical subsystems for directed energy programs for national defense systems, telescope systems for intelligence gathering and astronomical research, builds stabilized tracking systems that greatly improve accuracy for land and sea based weapons systems, and provides test range systems to determine accurate time, space and position information on key military targets during tests. The company also produces specialized optical components, up to 8.3-meters in diameter, for optical systems in ground observatories and space systems.

Headquartered in New York City, L-3 Communications is a leading provider of Intelligence, Surveillance and Reconnaissance (ISR) systems, secure communications systems, aircraft modernization, training and government services and is a merchant supplier of a broad array of high technology products. Its customers include the Department of Defense, Department of Homeland Security, selected U.S. Government intelligence agencies and aerospace prime contractors.

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. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.