L-3 Announces Conversion Rate Adjustment for Its 3% Convertible Contingent Debt Securities (“CODES”) Due 2035

Press Release

L-3 Announces Conversion Rate Adjustment for Its 3% Convertible Contingent Debt Securities (“CODES”) Due 2035

NEW YORK--(BUSINESS WIRE)--May. 17, 2012-- L-3 Communications Holdings, Inc. (the “Company”) (NYSE: LLL) announced today that it has adjusted the conversion rate for its 3% Convertible Contingent Debt Securities (CODES) due 2035 (CUSIP Numbers: 502413AW7 and 502424AE4; ISIN Numbers: US502413AW73 and US502424AE49) (the “Securities”) in connection with the regular quarterly dividend of $0.50 per share of the Company’s Common Stock paid on March 15, 2012 and the regular quarterly dividend of $0.50 per share of the Company’s Common Stock expected to be paid on June 15, 2012.

The new conversion rate is 10.4755 shares of Common Stock of the Company per $1,000 principal amount of the Securities, effective for conversions on or after May 17, 2012.

Notices of the conversion rate adjustment have been delivered to holders of the Securities in accordance with the terms of the Indenture governing the Securities.

Headquartered in New York City, L-3 employs approximately 61,000 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 2011 sales of $15.2 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.