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Cooper Industries Will Not Top Rival Bid for Thorn Lighting

28 September 1998

Cooper Industries Will Not Top Rival Bid for Thorn Lighting

    HOUSTON, Sept. 28 -- Cooper Industries, Inc.
announced today that its offer to acquire TLG, plc (Thorn Lighting Group) for
approximately $535 million has expired and will not be extended.  Cooper's
offer was announced on September 4, 1998, but a $585 million offer for TLG was
made a week later by a rival bidder.
    "While we believe that Thorn fits strategically with Cooper, we have
decided that a higher bid for TLG would not provide the return we expect for
our shareholders.  We remain committed to acquisitions as a vehicle for growth
but only if they meet our criteria for increasing shareholder value," said
H. John Riley, Jr., Chairman, President and Chief Executive Officer of Cooper
Industries.
    Cooper Industries, a manufacturer of electrical products, tools and
hardware, is headquartered in Houston, Texas, and had 1997 revenues of
$5.3 billion.  Additional information about Cooper is available on the
company's worldwide web site: http://www.cooperindustries.com.