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AlliedSignal Reaches Agreement With Tyco, AMP

22 April 1999

AlliedSignal Reaches Agreement With Tyco, AMP; Disposes Tyco Shares

    MORRIS TOWNSHIP, NJ--April 22, 1999--AlliedSignal Inc. reached an agreement with Tyco International Ltd. and AMP Incorporated , settling AMP's claim to the gain AlliedSignal realizes on its disposition of the AMP stock it is holding.
    AlliedSignal will make a payment to AMP of $50 million, and the parties have released all claims that they may have against each other relating to AMP.
    AlliedSignal has converted its AMP stock into Tyco shares and, after the close of the market yesterday, sold its Tyco holdings.
    AlliedSignal Inc. is an advanced technology and manufacturing company serving customers worldwide with aerospace and automotive products, chemicals, fibers, plastics and advanced materials. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. The company employs 70,400 people in some 40 countries.
    AlliedSignal was named the best diversified company by Forbes Global magazine; the most admired aerospace company by Fortune magazine, both globally and in the U.S.;and one of the 100 best companies to work for by Fortune. Additional information on the company is available on the World Wide Web at http://www.alliedsignal.com.
    This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts.