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L-3 Communications Increases Ownership Stake in Medical Education Technologies, Inc.

Posted on: Thursday, 6 April 2006, 09:00 CDT

L-3 Communications (NYSE: LLL) announced today that on April 4, 2006 it increased its ownership stake in Medical Education Technologies, Inc. (METI(R)) from approximately 47% to 80%. The business, which is now a consolidated subsidiary of L-3 Communications, is expected to have annual sales of approximately $35 million, and will be included in L-3's Specialized Products reportable segment.

Founded in 1996 and headquartered in Sarasota, Florida, METI is the world's leading supplier of human patient and surgical simulators, as well as related educational products. METI simulators are designed to simulate various medical scenarios including effects from weapons of mass destruction, bio-terrorism and everyday conditions and injuries. Hardware and software enable METI patient simulators to exhibit hundreds of medical scenarios while accurately and independently recognizing and responding to medical treatment and medication. METI offers complete training packages with learning tools, which include human patient and surgical simulators, exam trainers and learning modules.

METI's customer base includes 1,300 medical schools, nursing programs and medical aid providers at the federal, state and local levels.

"METI is highly synergistic with L-3's training businesses. Not only are METI's human patient simulators essential to training in the medical community, the simulators are also used for training military surgical teams and trauma care units," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "Additionally, METI's products have widespread applications for first responder training in the homeland security market."

METI's newest products include the Program for Nursing Curriculum Integration (PNCI(TM)), a learning module that integrates simulation-based learning opportunities in the existing undergraduate nursing curriculum, and the PediaSIM(R) ECS(TM), a portable pediatric patient simulator that generates realistic and automatic responses to clinical interventions and drug administration.

"This arrangement will benefit METI in extraordinary ways by giving us access to the resources of a company that believes in our mission and respects our brand," said Louis H. Oberndorf, president and chief executive officer of METI. "METI will be uniquely positioned to explore a multitude of business opportunities while continuing our mission to develop products that help save lives."

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. The company is a leading merchant supplier of a broad array of high technology products, including guidance and navigation, sensors, scanners, fuzes, data links, propulsion systems, simulators, avionics, electro optics, satellite communications, electrical power equipment, encryption, signal intelligence, antennas and microwave components. L-3 also supports a variety of Homeland Security initiatives with products and services. 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. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as "expects,""anticipates,""intends,""plans,""believes,""estimates" and similar expressions 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.

Source: Business Wire

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