TYCO INTERNATIONAL LTD. TO ACQUIRE SIMPLEX TIME RECORDER CO

Pembroke, Bermuda - - Tyco International Ltd. (NYSE: TYC; LSE: TYI; BSX: TYC), a diversified manufacturing and service company, today announced that the Company has entered into a definitive agreement pursuant to which Tyco will acquire Simplex Time Recorder Co., a privately held company headquartered in Westminster, MA, USA, for $1.15 billion in cash. Simplex Time Recorder Co. ("Simplex") manufactures a leading brand of fire and security products and communications systems including control panels, detection devices and system software. Simplex also installs, monitors and services fire alarms, security systems and access control systems. Simplex is expected to report fiscal year 2000 revenues of approximately $870 million. According to L. Dennis Kozlowski, Tyco's Chairman and Chief Executive Officer, "This transaction meets all of Tyco's acquisition criteria. The transaction will be immediately accretive to Tyco's earnings per share and generate positive operating cash flows. In addition, Simplex is a leader in the markets it serves, provides a strong recurring revenue stream and is an excellent complement to Tyco's existing Fire and Security Services product offering, capabilities and geographic reach. The combination of Simplex with Tyco Fire and Security Services will provide excellent manufacturing and service synergies, allowing for immediate positive benefits for Tyco shareholders." Mr. Kozlowski stated, "Tyco has been interested in acquiring Simplex for many years. Simplex provides Tyco Fire & Security Services with the premier product in the fire and security market to complement our service business and provide an additional platform for growth. "The combined strength of Simplex with Tyco's Fire & Security Services global sales and service organization will allow Tyco to leverage its international infrastructure to enhance penetration of Simplex products and services in key geographic markets," continued Mr. Kozlowski. The transaction is contingent upon customary regulatory review, and is expected to close during January 2001. ABOUT TYCO FIRE AND SECURITY SERVICES Tyco Fire and Security Services is one of the major businesses of Tyco International Ltd. Tyco Fire and Security Services designs, manufactures, installs and services electronic security systems, fire protection, detection and suppression systems, sprinklers and fire extinguishers. Tyco Fire and 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 lead ership positions in disposable medical products, diagnostic imaging, bulk pharmaceuticals, wound closure, plastics and adhesives. Tyco operates in more than 100 countries and has reported fiscal 2000 sales of approximately $28.9 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: expected date of closing the acquisition; future financial and operating results; and timing and benefits of the acquisition. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inability to obtain, or meet conditions imposed for, governmental approvals for Tyco's acquisition of Simplex; the risk that the businesses of Tyco and Simplex will not be integrated successfully; and other economic, business, competitive and/or regulatory factors affecting Tyco's and Simplex'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, as amended, for the fiscal year ended September 30, 2000. Tyco is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.