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Tyco International Ltd. Completes Purchase Of SecurityLink and Other Businesses of Cambridge Protection Industries LLC.

Acquisition Expected To Be Immediately Accretive to Tyco's Earnings

PEMBROKE, Bermuda, July 5 /PRNewswire/ --

Tyco International Ltd. (NYSE: TYC, BSX: TYC, London: TYI), a diversified manufacturing and service company, announced today that it has completed the acquisition of the electronic security systems businesses of Cambridge Protection Industries, LLC, which includes SecurityLink and provides services to approximately one million residential, commercial and government customers.

According to Tyco's Chairman and Chief Executive Officer L. Dennis Kozlowski: "We expect this transaction will be immediately accretive to Tyco's earnings per share and free cash flow. As part of our existing ADT operations, SecurityLink and the other Cambridge businesses should build on our strategy of expanding our recurring revenue base, while generating strong organic growth with attractive incremental margins. Furthermore the new businesses would provide significant product, service and operational synergies, when combined with ADT, that can offer ongoing positive benefits to Tyco shareholders."

The transaction is valued at approximately $1 billion.

About ADT

Celebrating its 127th Anniversary, ADT Security Services, Inc., a unit of Tyco Fire and Security Services, is the largest single provider of electronic security services to nearly 4 million commercial, federal and residential customers throughout North America and Europe. ADT's total security solutions include intrusion, fire protection, closed circuit television, access control, critical condition monitoring and integrated systems. ADT's Web-site address is http://www.adt.com .

About Tyco Fire & Security

Tyco Fire & Security Services is one of the major businesses of Tyco International Ltd. Tyco Fire & Security Services designs, manufactures, installs and services electronic security systems, fire protection, detection and suppression systems, sprinklers and fire extinguishers. Tyco Fire & Security Services includes more than 60 brands, which are distributed in markets across the globe.

About Tyco International Ltd,

Tyco International Ltd. (NYSE: TYC, LSE: TYI, BSX: TYC) is a diversified manufacturing and service company. Tyco is the world's largest manufacturer and servicer of electrical and electronic components; the world's largest designer, manufacturer, installer and servicer of undersea telecommunications systems; the world's largest manufacturer, installer and provider of fire protection systems and electronic security services and the world's largest manufacturer of flow control valves. Tyco also holds strong leadership positions in medical device products, financing and leasing capital, plastics and adhesives. Tyco operates in more than 100 countries and has expected fiscal 2001 revenues of $38 billion.

Forward-Looking Information

This release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements. The forward-looking statements in this release include statements addressing the following subjects: future financial and operating results and the benefits of the acquisition.

The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the risk that the businesses of Tyco and Cambridge Protection Industries, LLC will not be integrated successfully; and other economic, business, competitive and/or regulatory factors affecting Tyco's and Cambridge Protection Industries, LLC's businesses generally.

More detailed information about these factors is set forth in Tyco's filings with the Securities and Exchange Commission, including Tyco's Annual Report on Form 10-K for the fiscal year ended September 30, 2000 and Tyco's most recent quarterly reports on Form 10-Q. Tyco is under no obligation to (and expressly disclaims any such obligation to) update or alter the forward- looking statements whether as a result of new information, future events or otherwise.

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Publication:PR Newswire
Date:Jul 5, 2001
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