Tyco Electronics Announces Intent to Change Place of Incorporation from Bermuda to Switzerland


PEMBROKE, Bermuda, Jan. 14 -- Tyco Electronics Ltd. today announced that its Board of Directors has unanimously approved a proposed change of the company's place of incorporation from Bermuda to Switzerland. Shareholders will be asked to vote in favor of the proposal at a Special General Meeting of Shareholders in Pembroke, Bermuda. If approved, Tyco Electronics would implement the change as soon as practicable.

Tyco Electronics Chief Executive Officer Tom Lynch said, "Our Board of Directors and management team have concluded that this change is in the best interests of both the company and our shareholders. Since Tyco Electronics became an independent company in June 2007, we have taken a number of actions to improve the effectiveness and competitiveness of our global business operations. This is another important action in our evolution as an independent company. We have had a substantial presence in Switzerland since 1985, including corporate administrative operations, four manufacturing facilities and approximately 1,000 Swiss employees. In addition, Switzerland has a stable political, economic and regulatory environment, as well as long-established commercial relationships and tax treaties with other countries."

Full details of the transaction, including the associated benefits and risks, will be provided in the company's proxy statement/prospectus for its Special General Meeting of Shareholders, which is expected to be filed with the U.S. Securities and Exchange Commission (SEC) on Form S-4 as soon as practicable. Shareholders are urged to read such proxy statement/prospectus when it becomes available because it will contain important information. The proxy statement/prospectus will be, and other documents filed or to be filed by Tyco Electronics with the SEC are, or will be, available free of charge at the SEC's website (www.sec.gov) and at Tyco Electronics' website (www.tycoelectronics.com).

Tyco Electronics does not anticipate any material change in its operations or financial results as a result of the change of domicile. The company will continue to be registered with the SEC and will be subject to the same SEC reporting requirements. The company's common shares will continue to trade on the New York Stock Exchange (NYSE) under the symbol "TEL."

ABOUT TYCO ELECTRONICS

Tyco Electronics Ltd. is a leading global provider of engineered electronic components, network solutions, undersea telecommunication systems and wireless systems, with 2008 sales of US$14.8 billion to customers in more than 150 countries. We design, manufacture and market products for customers in industries from automotive, appliance and aerospace and defense to telecommunications, computers and consumer electronics. With nearly 8,000 engineers and worldwide manufacturing, sales and customer service capabilities, Tyco Electronics' commitment is our customers' advantage. More information on Tyco Electronics can be found at www.tycoelectronics.com/.

SOURCE: Tyco Electronics Ltd.

Web site: www.tycoelectronics.com/

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