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January 13, 2000

Tyco International Announces Sale Of ADT Automotive

COMAPNY PRESS RELEASE: Tyco International Ltd. announced today that it has entered into an agreement to sell its ADT Automotive business to Manheim Auctions, Inc., a wholly owned subsidiary of Cox Enterprises, Inc., for $1 billion in cash.

By CBR Staff Writer

The sale is subject to customary regulatory review, and when complete, will generate a one-time gain to Tyco of approximately $300 million.

ADT Automotive is an excellent business, but one that does not directly fit within our four key segments of Telecommunications and Electronics, Healthcare and Specialty Products, Fire and Security Systems, and Flow Control, said L. Dennis Kozlowski, Tyco’s Chairman and Chief Executive Officer. This sale will immediately enhance our already strong cash flow, which we will continue to reinvest in each of our four businesses to further drive Tyco’s growth.

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