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New Rochelle, New York, March 29, 2000 - Mr. Robert V. LaPenta, president and chief financial officer of L-3 Communications Corporation, and an Iona College alumnus and trustee, has pledged $6 million, the largest single gift ever received by Iona College, to be used for building a new student union to be called the Robert V. LaPenta Student Union.

Brother James A. Liguori, president of Iona, announced this stunning gift at a special convocation held on Wednesday, March 29 in Joyce Auditorium, on the Iona campus. Brother Liguori told the audience of over 300 people that, "Bob LaPenta's gift speaks to more than his vast generosity. It speaks to his vision of the future, his willingness to assume a leadership role in defining this vision, and to his desire to envision the next generations of students and faculty. All of us will benefit from what this one building can generate for the entire College community. We expect that this gift will be the harbinger of many positive transformations over the next decade."

In making his gift, Mr. LaPenta commented, "My experience at Iona College provided me with a solid academic foundation that has served me well in life and in my professional pursuits, and I am pleased this tradition of excellence continues. It is my hope that this gift will serve as a catalyst for increased alumni investment in Iona's future." He added, "With a committed alumni base, Iona will have all the ingredients it needs - a strong faculty, a visionary administration, and a talented student body - to move this impressive college to the next level as a national institution."

L-3 Communications Corporation is a leading merchant supplier of secure communications systems, microwave components, avionics and ocean systems and telemetry, instrumentation, space and wireless products. Its customers include the Department of Defense, selected U.S. government intelligence agencies, aerospace and defense prime contractors, commercial telecommunications, and cellular customers. Headquartered in New York City, L-3 Communications Corporation has sales of over $1.4 billion and employs approximately 10,000 people.

Mr. LaPenta was formerly a vice president of Lockheed Martin Corporation and vice president, finance, of Lockheed Martin's C3I and Systems Integration Sector, a $6 billion sector consisting of many of the heritage Loral businesses that were strategically combined with Lockheed Martin in 1996. Prior to this merger, Mr. LaPenta was senior vice president and controller of Loral Corporation, a position he held since 1991.

Mr. LaPenta graduated from Iona College in 1967 with a Bachelor of Business Administration ( BBA) in Accounting. He is on the board of directors of the American University in Greece, a member of Iona's board of legal trustees, and of the Financial Executives Institute.

Two years ago, in March 1998, Iona received what was, until today, its largest gift of $5 million from Mr. and Mrs. Joseph M. Murphy. At the time this gift was made, Mr. and Mrs. Murphy commented, "Beyond the good this contribution will do for our students, we're hopeful that it will attract other leadership gifts for the College." It was noted by Brother Liguori that "the Murphy gift initiated a significant chain of events for Iona. We remain greatly appreciative of the confidence our alumni are demonstrating in our continuing efforts to transform Iona into one of the most highly regarded Catholic colleges in the East."

For questions or more information please contact:
Meghan Finn
Public Relations Office
Iona College, 715 North Avenue, New Rochelle, N.Y. 10801
tel: 914 633-2005 fax: 914 637-2711

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