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Technology Stocks : LLL: L-3 Communications Hldgs. -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Vayda who wrote (7)	4/27/2001 9:20:04 AM
From: Jeff Vayda	Read Replies (1) \| Respond to of 14

L-3 Communications Announces Sale of 6.0 Million Shares of Common Stock Story Filed: Thursday, April 26, 2001 7:32 AM EST NEW YORK, Apr 26, 2001 (BUSINESS WIRE) -- L-3 Communications (NYSE: LLL) announced today the sale of 6.0 million shares of its common stock at a price of $80.00 per share. Of this amount, the company sold 4.5 million primary shares and affiliates of Lehman Brothers sold 1.5 million secondary shares. The company and the selling stockholders have also granted the underwriters over-allotment options to purchase up to an additional 900,000 shares to cover over-allotments, if any, which would include 75,000 additional primary shares to be sold by L-3 Communications. Upon closing, which is expected to occur on or about April 30, 2001, L-3 will receive net proceeds of approximately $350 million, assuming no exercise of the aforementioned over-allotment options. Net proceeds of this offering will be used to repay existing indebtedness under L-3's senior credit facilities, and for general corporate purposes, including potential acquisitions. Lehman Brothers acted as lead manager in the offering, and Bear Stearns, Credit Suisse First Boston, Merrill Lynch and SG Cowen served as co-managers. As a result of the sale, affiliates of Lehman Brothers own approximately 10.1% of L-3 Communications' common shares outstanding, assuming no exercise of the over-allotment options. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Headquartered in New York City, L-3 Communications is a leading merchant supplier of 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 U.S. government intelligence agencies, aerospace prime contractors and commercial telecommunications and wireless customers. 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. CONTACT: L-3 Communications Cynthia Swain, 212/697-1111 or Morgen-Walke Associates Investors: Eric Boyriven Media: Scot Hoffman 212/850-5600 URL: businesswire.com