Teleflex Acquires Dutch Manufacturer of Alternative Fuel Systems

    PLYMOUTH MEETING, Pa.--Jan. 21, 2002--Teleflex Incorporated announced today the acquisition of Autogastechniek Holland b.v. (AG Autogas). Terms were not disclosed. AG Autogas, a manufacturer of alternative fuel systems and components for automobiles, has annual sales of approximately $10 million (US). It is headquartered in Veenendaal, Netherlands and operates a manufacturing facility in Rubano - Pedova, Italy. AG Autogas supplies European vehicle manufacturers and aftermarket conversion centers around the world. Key elements of the company's fuel system include patented fuel injector technology suitable for propane, natural gas and hydrogen vehicle applications.
    Jeffrey P. Black, president of Teleflex, said, "AG Autogas expands our global presence in alternative fuel systems and related components and complements the product line, customer base and distribution network of our GFI Control Systems subsidiary."
    GFI is the leading North American manufacturer of fuel systems and components for OEM-built natural gas and propane powered vehicles. GFI also supplies a variety of fuel control components for hydrogen powered fuel cell electric vehicle programs. Teleflex completed the acquisition of GFI in 2000, having previously owned a 50% interest.
    GFI president, Lloyd Austin, said, "This acquisition is the latest strategic step in the continued growth and success of our company. While we are well known in North America as a leader in alternative fuels, this move dramatically expands GFI's presence in Europe and our ability to support our customers on a global basis."
    Teleflex is a diversified industrial company with annual sales of more than $1.8 billion. The company designs, manufactures and distributes quality engineered products and services for the aerospace, medical, automotive, marine and industrial markets worldwide. Teleflex employs more than 16,000 people worldwide who focus on providing innovative solutions for customers. Additional information about Teleflex can be obtained from the company's Web site on the Internet at www.teleflex.com. Forward-looking information:
    Statements in this news release, other than historical data, are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements are subject to various risks and uncertainties that could cause actual results to differ from those contemplated in the statements. These factors are discussed in the company's Securities and Exchange Commission filings.