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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (2288)	7/26/2000 10:05:43 PM
From: Nick	Read Replies (1) \| Respond to of 3770

TyCom Ltd. IPO Priced at $32 Per Share Company to Trade on New York and Bermuda Exchanges Under Symbol TCM PEMBROKE, Bermuda, July 26 /CNW/ -- TyCom Ltd. today announced that its initial public offering of 61,130,435 shares of common stock was priced at US$32 per share. The shares are expected to be listed tomorrow on the New York Stock Exchange under the ticker symbol TCM. Trading will begin next week on the Bermuda Stock Exchange. In addition to the approximately 61 million common shares being issued, TyCom may issue up to an additional 9,169,565 common shares if the underwriters exercise their over-allotment option in full. Net proceeds from the offering are expected to be approximately $1.9 billion. After the offering, TyCom will have 511,130,435 common shares outstanding, excluding the over-allotment option. TyCom's parent company, Tyco International Ltd., will retain 450,000,000 shares, or 88 percent. Joint book running managers for the offering are Goldman, Sachs & Co. and Salomon Smith Barney, with Merrill Lynch & Co. as joint lead manager. Copies of the prospectus relating to this offering may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004 (tel: 212-902-1000); Salomon Smith Barney, 388 Greenwich Street, New York, NY 10013 (tel: 212-816- 6000); or Merrill Lynch & Co., 250 Vesey Street, New York, NY 10281 (tel: 212-449-1000). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. ABOUT TYCOM LTD. TyCom Ltd. (NYSE: TCM - news) is a leading independent provider of transoceanic fiber optic systems and services, having designed, engineered, manufactured and installed over 300,000 kilometers of undersea cable. ABOUT TYCO INTERNATIONAL 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 and undersea telecommunications systems; and the world's largest manufacturer, installer, and provider of fire protection systems and electronic security services. It has strong leadership positions in disposable medical products, plastics, and adhesives; and is the largest manufacturer of flow control valves. The Company operates in more than 80 countries and had 1999 revenues of $22.5 billion. For further information Peter Ferris, Managing Director, Investor Relations of TyCom (US) Inc., 603-775-6344, pferris@tycomltd.com or Judith Czelusniak, Senior Vice President, Corporate Relations of Tyco International (US) Inc., 561-988-7424