L-3 Communications Announces Accrual of Interest On Its 4.0% Senior Subordinated Convertible Contingent Debt Securities

Business Wire,  Oct 14, 2002  

Tags: accrual, L-3 Communications Holdings Inc.

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Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 14, 2002

L-3 Communications (NYSE: LLL), announced today that for the period of September 15, 2002 to March 14, 2003 its $420 million in 4.0% Senior Subordinated Convertible Contingent Debt Securities (CODES) due 2011 will, subject to the terms of the indenture under which they were issued, accrue contingent interest at a rate of 0.40% per annum, in addition to the 4.0% annual rate of interest that the CODES are currently accruing.

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.

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