CRS Robotics Corporation to be Acquired by Thermo Electron.

Business Editors & Health/Medical Writers

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BURLINGTON, Ontario--(BUSINESS WIRE)--March 11, 2002

CRS Robotics Corporation (TSE: ROB) today announced that Thermo Electron Corporation (NYSE:TMO) proposes to acquire for cash, all the issued and outstanding shares of CRS Robotics (including all shares outstanding issuable upon exercise of outstanding options) for $5.75 ($CDN) per share. The aggregate acquisition cost of approximately $67 ($CDN) million will be funded from Thermo Electron's existing cash holdings.

Ralph Steedman, President and CEO of CRS stated, "This is truly an outstanding opportunity for our company. Thermo is a world-class organization in the Life Sciences business and our software and mover technologies fit perfectly within their product portfolio. I am excited about the future and the opportunity to bring to our existing and potential customers a broader product offering. Thermo will provide CRS with the financial resources and sales/marketing reach to become a leader in laboratory automation for drug discovery."

"CRS is truly a key addition to our Life and Laboratory Sciences sector and is representative of the type of strategic acquisition that Thermo will be making in the future," said Richard F. Syron, chairman and chief executive officer of Thermo Electron. "CRS' innovative automation products complement our existing offerings for the fast-growing drug discovery market and will enable us to provide complete integrated solutions to our customers."

Thermo Electron and CRS have entered into a support agreement pursuant to the offer. CRS' board of directors has unanimously agreed to support the offer as in the best interests of its shareholders. In addition, the directors and officers of CRS have agreed to tender all their shares during the offer period. The CRS board has received a fairness opinion from its financial advisors, RBC Capital Markets, indicating that the cash consideration to be received in the offer is fair from a financial point of view to CRS shareholders. In addition to other customary conditions, the support agreement provides that a minimum of 66 2/3rds of the outstanding CRS Robotics shares on a fully diluted basis must be tendered during the offer. The support agreement also provides for a $1,380,000 ($US) termination fee payable to Thermo in certain circumstances.

Thermo Electron intends to mail tender offer documents outlining all the terms and conditions to shareholders of CRS on or before March 21, 2002. The offer will expire 36 days thereafter unless extended by Thermo Electron. Completion of the transaction is expected in late April 2002.

Core competencies for CRS include integrated lab automation solutions using advanced software in biotechnology and pharmaceutical research applications marketed worldwide. In addition, CRS manufactures and supplies robotic systems for advanced manufacturing niche markets. CRS is headquartered in Burlington, Ontario and has subsidiaries in the United States and Europe. Further information can be found on the company's web site at www.crsrobotics.com.

Thermo Electron Corporation is a global leader in providing technology-based instruments, components, and systems that offer total solutions for markets ranging from life sciences to telecommunications to food, drug, and beverage production. The company's powerful technologies help researchers sift through data to make discoveries that will fight disease or prolong life. They allow manufacturers to fabricate critical components required to increase the speed and quality of communications and they automatically monitor and control online production to ensure that quality standards are met safely and efficiently. Thermo Electron, based in Waltham, Massachusetts, reported U.S.$2.2 billion in revenues in 2001 and employs approximately 12,000 people worldwide. For more information on Thermo Electron, visit www.thermo.com.

CRS Forward Looking Statement Disclaimer

Some of the matters discussed in this news release involve risks and uncertainties, which include, but are not limited to, risks and uncertainties regarding the Company's ability to generate high growth sales rates and uncertainties related to economic conditions, markets, products, competition, intellectual property, services and prices, key employees and future capital needs that the company depends on. Additional information on these and other potential factors that could affect the Company's financial results are detailed in documents filed from time to time with the Ontario Securities Commission. The Company undertakes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.