Harris Corporation Completes Acquisition of Schlumberger Global Connectivity Services; Forms the Leading Global Communications Services Business Supporting Remote and Harsh Environments

By Harris Caprock Communications, PRNE
Monday, April 4, 2011

MELBOURNE, Florida and HOUSTON, April 5, 2011 - Highlights:

    -- Harris CapRock Communications is leading provider of fully managed,
       end-to-end communication services for mission-critical operations
    -- Combined business has more than 1,400 employees and presence in 23
       countries
    -- Robust self-owned and operated infrastructure includes teleports on
       six continents, six 24/7 Network Operation Centers and an extensive
       terrestrial communications network

Harris Corporation (NYSE: HRS), an international communications and
information technology company, has completed its previously announced
acquisition of the Global Connectivity Services (GCS) business from an
operating unit of Schlumberger.

Harris combined the former Schlumberger GCS business with its existing
Maritime Communications Services business and the recently acquired CapRock
Communications, and infrastructure assets from Core180's government business
to form Harris CapRock Communications - the leading provider of managed
communications services for remote and harsh environments including those in
the energy, government and maritime industries.

"Integrating these businesses into a single enterprise creates an
organization with unsurpassed satellite and terrestrial networks
capabilities, end-to-end service offerings, and an experienced service team
that will provide customers with unsurpassed in-the-field support on a global
scale," said Howard L. Lance, chairman, president and chief executive officer
of Harris. "Harris CapRock Communications will use its capabilities and
expertise to offer customers the most secure, reliable and efficient
communications solutions in the industry."

Harris CapRock Communications has more than three decades of experience
serving customers in more than 100 countries. The business has more than
1,400 employees, a local presence in 23 countries and a robust self-owned and
operated infrastructure that includes teleports on six continents, six 24/7
Network Operation Centers and an extensive terrestrial network. Harris
CapRock Communications delivers trusted and reliable comprehensive
communications and IT solutions that make it possible for clients to stay
focused on their missions.

Solutions from the newly combined business include mission-critical
communications, converged voice, video and data, highly reliable and secure
connectivity, and rapid and mobile deployments. Energy customers include
national oil companies, major oil companies, independent oil companies, oil
field service companies, seismic companies, oil and gas marine companies, rig
owners and management companies. Maritime industry customers include
international shipping and service companies. Government customers include
defense, homeland security, and other federal civilian agencies.

Harris CapRock Communications also will leverage Harris' strong and
expanding technology and service capabilities - along with its growing global
presence - to provide integrated solutions to meet individual customer and
market needs. Harris is unique in its ability to integrate advanced
technology and services to capture, aggregate, distribute, and analyze any
type of communications or information - including voice, video, data, and
imaging.

Harris has built some of the world's most trusted networks for customers
in established markets including defense, intelligence, air traffic control,
public safety, and broadcast. Harris is extending this reach into new
markets, including healthcare, energy, cloud computing and others.

Harris purchased the Schlumberger GCS business for $397.5 million in
cash, subject to post-closing adjustments. The purchase price was paid from
cash on hand. The goodwill arising from the acquisition will be an allowable
tax expense with an estimated net present value of $50 million, resulting in
an effective purchase price of $347.5 million.

About Harris Corporation

Harris is an international communications and information technology
company serving government and commercial markets in more than 150 countries.
Headquartered in Melbourne, Florida, the company has approximately $6 billion
of annual revenue and more than 16,000 employees - including nearly 7,000
engineers and scientists. Harris is dedicated to developing best-in-class
assured communications(R) products, systems, and services. Additional
information about Harris Corporation is available at www.harris.com.

Forward-Looking Statements

Statements in this press release that are not historical facts are
forward-looking statements that reflect management's current expectations,
assumptions, and estimates of future performance and economic conditions.
Such statements are made in reliance upon the safe harbor provisions of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements in this release include but
are not limited to: impact of the acquisition of Schlumberger GCS on Harris
earnings, and statements regarding outlook, including growth opportunities.
The company cautions investors that any forward-looking statements are
subject to risks and uncertainties that may cause actual results and future
trends to differ materially from those matters expressed in or implied by
such forward-looking statements. The company's consolidated results and the
forward-looking statements could be affected by many factors, including but
not limited to: the loss of our relationship with the U.S. government or a
shift in U.S. government funding; potential changes in U.S. government or
customer priorities; risks inherent with large long-term fixed-price
contracts, particularly the ability to contain cost overruns; financial and
government and regulatory risks relating to international sales and
operations; our ability to continue to develop new products that achieve
market acceptance; the consequences of future geo-political events; strategic
acquisitions and the risks and uncertainties related thereto, including our
ability to manage and integrate acquired businesses; performance of our
subcontractors and suppliers; potential claims that we are infringing the
intellectual property rights of third parties; the successful resolution of
patent infringement claims and the ultimate outcome of other contingencies,
litigation and legal matters; risks inherent in developing new technologies;
changes in our effective tax rate; the potential impact of natural disasters
or other disruptions on our operations; the potential impact of a security
breach, through cyber attack or otherwise, or other significant disruptions
of our IT networks and systems or those we operate for customers; the
potential impact of satellite bandwidth constraints on our managed satellite
communications services; changes in future business conditions that could
cause business investments and/or recorded goodwill to become impaired; and
the general downturn in the global economy. Further information relating to
factors that may impact the company's results and forward-looking statements
are disclosed in the company's filings with the SEC. The forward-looking
statements contained in this release are made as of the date of this release,
and the company disclaims any intention or obligation, other than imposed by
law, to update or revise any forward-looking statements, whether as a result
of new information, future events, or otherwise.

Christy Hartman, Harris CapRock Communications, +1-832-668-2383, chartm01 at harris.com; Jim Burke, Corporate Headquarters, +1-321-727-9131, jim.burke at harris.com; Marc Raimondi, Harris Corporation - Washington, D.C., +1-202-729-3732, marc.raimondi at harris.com

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