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<!-- Begin Block Tagged Note 4 - us-gaap:BusinessCombinationDisclosureTextBlock-->
<div align="left" style="margin-left: 0%">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left">
<tr>
<td width="2%"></td>
<td width="98%"></td>
</tr>
<tr valign="top">
<td>
<b><font style="font-family: 'Times New Roman', Times">4. </font></b>
</td>
<td>
<b><font style="font-family: 'Times New Roman', Times">Acquisitions</font></b>
</td>
</tr>
</table>
<div style="margin-top: 12pt; font-size: 1pt"> 
</div>
<div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff">
All of the business acquisitions are included in the
Company’s results of operations from their respective dates
of acquisition.
</div>
<div style="margin-top: 12pt; font-size: 1pt"> 
</div>
<div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff">
<b><i><font style="font-family: 'Times New Roman', Times">2010
Business Acquisitions</font></i></b>
</div>
<div style="margin-top: 12pt; font-size: 1pt"> 
</div>
<div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff">
On April 14, 2010, the Company acquired all of the
outstanding stock of Insight Technology Incorporated (Insight),
a manufacturer of mission critical night vision and
electro-optical equipment, for a preliminary purchase price of
$613 million. The purchase price was funded with cash on
hand and is subject to adjustment based on the closing date
actual net working capital. Additional consideration, if any,
will be accounted for as goodwill. Based on the preliminary
purchase price allocation, the amount of goodwill recognized was
$422 million, which was assigned to the Electronic Systems
reportable segment, of which $412 million is expected to be
deductible for income tax purposes. The Company recognized
$124 million, based on a preliminary estimate of fair
value, for identifiable intangible assets, including technology
and customer relationships, that are expected to be amortized
over a weighted average useful life of 14 years. The final
purchase price allocation is expected to be completed by the
fourth quarter of 2010 and will be based on the final purchase
price and final appraisals and other analyses of fair values for
acquired assets and assumed
liabilities. The Company does not expect any of the differences
between the preliminary and final purchase price allocations to
have a material impact on its results of operations or financial
position.
</div>
<div style="margin-top: 12pt; font-size: 1pt"> 
</div>
<div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff">
<b><i><font style="font-family: 'Times New Roman', Times">2009
Business Acquisitions</font></i></b>
</div>
<div style="margin-top: 12pt; font-size: 1pt"> 
</div>
<div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff">
On January 30, 2009, the Company acquired all of the
outstanding stock of Chesapeake Sciences Corporation (CSC) for a
purchase price of $91 million in cash, which included a
$7 million net working capital adjustment and
$4 million related to certain tax benefits acquired. The
net working capital adjustment included $6 million for cash
acquired. The acquisition was financed using cash on hand. CSC
is a developer and manufacturer of anti-submarine warfare
systems for use onboard submarines and surface ship combatants.
Based on the final purchase price allocation, the amount of
goodwill recognized was $56 million, which was assigned to
the Electronic Systems reportable segment, and is not expected
to be deductible for income tax purposes.
</div>
<div style="font-family: 'Times New Roman', Times">
<div style="margin-top: 12pt; font-size: 1pt"> 
</div>
<div align="left" style="margin-left: 1%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff">
<b><i><font style="font-family: 'Times New Roman', Times">Unaudited
Pro Forma Statements of Operations Data</font></i></b>
</div>
<div style="margin-top: 12pt; font-size: 1pt"> 
</div>
<div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff">
The following unaudited pro forma Statements of Operations data
presents the combined results of the Company and its business
acquisitions completed during the first half ended June 25,
2010 and the year ended December 31, 2009, in each case
assuming that the business acquisitions completed during these
periods had occurred on January 1, 2009.
</div>
<div style="margin-top: 6pt; font-size: 1pt"> 
</div>
<table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff; text-align: left">
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<tr style="font-size: 8pt" valign="bottom" align="center">
<td nowrap="nowrap" align="center" valign="bottom">
 
</td>
<td>
 
</td>
<td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
<b>Second Quarter Ended</b>
</td>
<td>
 
</td>
<td>
 
</td>
<td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
<b>First Half Ended</b>
</td>
<td>
 
</td>
</tr>
<tr style="font-size: 8pt" valign="bottom" align="center">
<td nowrap="nowrap" align="center" valign="bottom">
 
</td>
<td>
 
</td>
<td colspan="2" nowrap="nowrap" align="center" valign="bottom">
<b>June 25,<br />
</b>
</td>
<td>
 
</td>
<td>
 
</td>
<td colspan="2" nowrap="nowrap" align="center" valign="bottom">
<b>June 26,<br />
</b>
</td>
<td>
 
</td>
<td>
 
</td>
<td colspan="2" nowrap="nowrap" align="center" valign="bottom">
<b>June 25,<br />
</b>
</td>
<td>
 
</td>
<td>
 
</td>
<td colspan="2" nowrap="nowrap" align="center" valign="bottom">
<b>June 26,<br />
</b>
</td>
<td>
 
</td>
</tr>
<tr style="font-size: 8pt" valign="bottom" align="center">
<td nowrap="nowrap" align="center" valign="bottom">
 
</td>
<td>
 
</td>
<td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
<b>2010</b>
</td>
<td>
 
</td>
<td>
 
</td>
<td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
<b>2009</b>
</td>
<td>
 
</td>
<td>
 
</td>
<td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
<b>2010</b>
</td>
<td>
 
</td>
<td>
 
</td>
<td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
<b>2009</b>
</td>
<td>
 
</td>
</tr>
<tr style="font-size: 8pt" valign="bottom" align="center">
<td nowrap="nowrap" align="center" valign="bottom">
 
</td>
<td>
 
</td>
<td colspan="14" align="center" valign="bottom">
<b>(in millions, except per share data)</b>
</td>
<td>
 
</td>
</tr>
<tr style="line-height: 3pt; font-size: 1pt">
<td> 
</td>
</tr>
<!-- TableOutputBody -->
<tr valign="bottom" style="background: #cceeff">
<td align="left" valign="bottom">
<div style="text-indent: -10pt; margin-left: 10pt">
Pro forma net sales
</div>
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
  3,973
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
  4,026
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
  7,661
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
  7,768
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
</tr>
<tr valign="bottom">
<td align="left" valign="bottom">
<div style="text-indent: -10pt; margin-left: 10pt">
Pro forma net income attributable to L-3
</div>
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
229
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
235
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
451
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
440
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td align="left" valign="bottom">
<div style="text-indent: -10pt; margin-left: 10pt">
Pro forma diluted EPS
</div>
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
1.96
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
1.98
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
3.84
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
<td>
 
</td>
<td nowrap="nowrap" align="left" valign="bottom">
$
</td>
<td nowrap="nowrap" align="right" valign="bottom">
3.69
</td>
<td nowrap="nowrap" align="left" valign="bottom">
 
</td>
</tr>
</table>
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</div>
</div>
<div style="margin-top: 6pt; font-size: 1pt"> 
</div>
<div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #ffffff">
The unaudited pro forma results disclosed in the table above are
based on various assumptions and are not necessarily indicative
of the results of operations that would have occurred had the
Company completed these acquisitions on January 1, 2009.
</div>
<div style="margin-top: 12pt; font-size: 1pt"> 
</div>
</div>
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Description of a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. This element may be used as a single block of text to encapsulate the entire disclosure (including data and tables) regarding business combinations, including leverage buyout transactions (as applicable).
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