Re: EG&G: another Carlyle Group holding cleaning up on terror

["Charles Jannuzi" <jannuzi@xxxxxxxxxxxxxxxxxxxxxxxxx>]

EG&G, a key Carlyle Group holding, has technology and products in biosensors
from this acquisition. They then branded just about everything to do with
the field of detection as 'Perkin-Elmer'.

http://www.princetonappliedresearch.com/press_releases/030899.html



Press Releases

EG&G TO ACQUIRE PERKIN-ELMER'S ANALYTICAL INSTRUMENTS DIVISION FOR $425
MILLION;  REVIEWS STRATEGIC ALTERNATIVES FOR TECHNICAL SERVICES UNIT

Oak Ridge, TN - EG&G, Inc. announced today that it plans to acquire
Perkin-Elmer's Analytical Instruments Division, a leading producer of
high-quality analytical testing instruments for $425 million. The
transaction is the latest in a series of acquisitions, divestitures and
consolidations intended to drive EG&G growth in commercial technology
markets. EG&G expects to close this transaction during the second quarter.

EG&G also announced that it will explore strategic alternatives for its
Technical Services business unit and has engaged Goldman, Sachs & Co. to
conduct the review. In 1999, EG&G anticipates Technical Services will have a
sales level of approximately $450 million. The unit provides management,
engineering, scientific, technical and operations support services to
government customers, including the U.S. departments of Defense, Treasury,
Customs Service, the Federal Aviation Administration and the Internal
Revenue Service. EG&G said that it is committed to maintaining a high level
of service to its customers and fulfilling all contractual obligations
during this review period.

"Today's announcement of our intention to acquire Perkin-Elmer's Analytical
Instruments is an important milestone for our Company," said Gregory L.
Summe, President and Chief Executive Officer of EG&G, Inc. "This is truly a
strategic acquisition for us - one that will allow us to build scale in our
existing Instruments and Life Sciences units and to better position our
Company for continued growth. Perkin-Elmer has a strong global distribution
network, a widely recognized and respected brandname and is a leader in
innovation. Today's actions will greatly accelerate our efforts to focus on
high growth electronics, aerospace and life sciences businesses."

EG&G expects the acquisition to be non-dilutive in 1999, excluding any
acquisition-related charges, and accretive in the year 2000 and beyond.

Both companies' Boards of Directors have approved the transaction. Its
completion is subject to approval by certain government regulatory agencies.

Perkin-Elmer Analytical Instruments generated 1998 fiscal year sales of $569
million. Its systems are widely used to achieve product uniformity in drugs
and medicines, ensure the purity of food and water, protect the environment,
measure and test the structural integrity of many different materials, and
much more. In addition to products, the company provides consumables and
services. The division sells to traditional analytical instruments and life
sciences markets.

The acquisition will complement EG&G's Instruments and Life Sciences product
offerings and extend and strengthen EG&G presence in such areas as
pharmaceuticals and food (bacteria) screening. Ownership of the brandname
"Perkin-Elmer" will be transferred to EG&G.

Under EG&G's leadership, Perkin-Elmer Analytical Instruments, which holds
strong positions in the majority of its major product lines, will receive
the resources needed to increase its market presence and to accelerate
new-product development.

Perkin-Elmer has pioneered the commercial specialty development of many
analytical techniques over the last 50 years, establishing a reputation for
high-quality analytical instruments. Headquartered in Connecticut, its
Analytical Instruments division has an employee base of 3,100 and has a
sales presence in over 100 countries.

EG&G has completed several other recent transactions, such as the $250
million acquisition of Lumen Technologies and the purchase of Life Science
Resources Limited, which have added critical mass and technologies in the
optoelectronics and life sciences markets.

Forward-Looking Information and Factors Affecting Future Performance

This press release contains "forward-looking statements." For this purpose,
any statements contained in this press release that are not statements of
historical fact may be deemed to be forward-looking statements. Words such
as "believes," "anticipates," "plans," "expects," "will" and similar
expressions are intended to identify forward-looking statements. There are a
number of important factors that could cause the results of EG&G to differ
materially from those indicated by these forward-looking statements,
including among others, the factors set forth in Exhibit 99.1 to our Current
Report on Form 8-K filed with the Securities and Exchange Commission on
January 25, 1999, which Exhibit 99.1 is incorporated by reference in this
press release.

EG&G, Inc. is a global technology company that provides products and systems
to medical, telecom, aerospace, semiconductor, photographic and other
industries. It delivers skilled support services to government and
industrial customers. Based in Wellesley, Massachusetts, EG&G has annual
sales of approximately $1.4 billion and more than 13,000 employees
worldwide.

EG&G, Inc. Perkin-Elmer Financial Inquiries Investors: Deborah S. Lorenz &
Edward Bloch Tel: 781-431-4306 Tel: 203-761-5248 Email: dlorenz@xxxxxxxxxx

Media: Martin A. Reynolds & Merle Spiegel Tel: 781-431-4282 Tel:
203-761-5292 Email: mreynolds@xxxxxxxxxx

EG&G, Inc.Corporate Overview

EG&G, Inc. is a global technology company that provides products and systems
to medical, telecom, aerospace, semiconductor, photographic and other
industries. It delivers skilled support services to government and
industrial customers; it has research and manufacturing expertise in areas
such as medical diagnostic equipment, analytical instruments, specialty
lighting, micromachined sensors, X-ray security systems, sealing, facility
management, and automotive testing. EG&G has annual sales of $1.4 billion
and about 13,000 employees.

In 1998, EG&G consolidated its business into five large, independent
Strategic Business Units (SBUs): Life Sciences, Instruments,
Optoelectronics, Engineered Products and Technical Services.

EG&G Life Sciences

1998 Sales: $148 Million

EG&G Life Sciences is a leader in developing innovative, non-radioactive
diagnostic equipment. Its AutoDELFIATM blood disease detection system is
fully-automated to minimize human error, can analyze 432 blood samples an
hour, and last year screened over 10 million newborns for debilitating
neonatal conditions. Another diagnostic system, VICTOR 2TM, is the world's
first bioanalytic, bioassay instrument to combine four measurement
technologies. Using disposable reagent packs to keep operations simple and
efficient, VICTOR saves time and money while ensuring reliable results. With
the recent purchase of Life Science Resources Limited, EG&G Life Sciences
now offers a range of cutting-edge analytical imaging applications.

EG&G Instruments

1998 Sales: $247 Million Note: Results for 1999 will include revenue from
recently acquired Lumen operations.

EG&G Instruments develops and manufactures products for a range of detection
and measurement applications. The company offers analytical instruments for
process measurement, nuclear, fiber-optic, electrochemical and
photolithography applications. EG&G also is a leading manufacturer of X-ray
security products, including carry-on baggage scanners and large-cargo
scanners, as well as an advanced food inspection system that detects and
automatically rejects foreign objects in foods, while ensuring quality
control in processed foods. EG&G also has over 40 years of experience in
evaluating vehicle performance, durability, and safety, and uses advanced
technology to save automotive customers millions of dollars in research and
development costs.

EG&G Optoelectronics

1998 Sales: $268 Million Note: Results for 1999 will include revenue from
recently acquired Lumen operations.

EG&G Optoelectronics products cover the spectrum of light from ultraviolet
to the far infrared. Divisions in this segment design and manufacture
optical sensors ranging from simple photocells to sophisticated imaging
systems, light sources that include flashlamps and laser diodes, thermopiles
and complex devices for weapons trigger systems. Through its recent
acquisition of Lumen Technologies, EG&G now provides lighting applications
for cinema projection and stage and studio use. Specialized electronic
components are provided for industrial, consumer and medical applications,
and defense and energy programs. EG&G Micromachining produces a wide range
of sensors that are used in medical and industrial markets. For instance,
these sensors are embedded in intravenous lines to monitor blood pressure
during surgery. They also can detect dangerous vibrations in heavy
industrial equipment. In the automotive industry, EG&G sensors activate
front and side airbags, automatically activate air conditioning, activate
headlights when it gets dark, and turn on windshield wipers when it rains.
EG&G Amorphous Silicon will soon begin production of amorphous silicon
sensor panels, an innovation that allows X-ray machines to use a much lower
radiation dose while producing a real-time, high-resolution image. First
applications will be for mammograms and chest imaging, but this technology
can also be used by industry, for instance, to check pipelines for cracks or
inspecting airplane parts for wear and tear.

EG&G Engineered Products

1998 Sales: $167 Million

EG&G Engineered Products introduced the world's first noncontacting welded
metal bellows in late 1996, a device which has proved crucial to helping oil
and chemical refineries meet stringent new emissions standards. Today the
company's advanced bellows products increase the efficiency of airplane
engines, and are increasingly found in semiconductor manufacturing
facilities and power generation plants.

Technical Services

1998 Sales: $553 Million

EG&G Technical Services provides management and technical services to
government and industrial clients around the world. For example, EG&G has
taken over the privatization and redevelopment of Kelly Air Force Base in
San Antonio, Texas and operates the first chemical weapons destruction
facility in the continental U.S.

Now celebrating its 52nd year of operation, EG&G was founded in 1947 by a
Massachusetts Institute of Technology professor, Dr. Harold Edgerton, and
two of his students, Kenneth Germeshausen and Herbert Grier. While the
company's business has historically focused on military and defense
functions, EG&G has successfully leveraged its solid foundation of invention
and innovation to build itself into one of today's top commercial
high-technology firms. EG&G looks forward to continuing its achievement in
developing advanced products and solutions for diverse industrial, service,
and medical organizations.

Perkin-Elmer Analytical Instruments Division - Overview

Perkin-Elmer is a world leader in the development, manufacture, and
marketing of life science systems and analytical instruments. Its Analytical
Instruments Division, headquartered in Connecticut, is a leader in supplying
a broad range of instruments to the pharmaceutical, environmental, food,
chemical, petrochemical, and related industries.

Perkin-Elmer's analytical instruments systems are used to analyze substances
at the elemental and molecular level in a wide range of industries
throughout the world, from chemicals and plastics to metals and electronics,
from drug manufacturing to environmental testing. These are critical tools
employed in basic and applied research, new product development, and quality
control. For example, Perkin-Elmer's analytical instrumentation systems are
widely used to ensure the purity of food, water, and pharmaceuticals; to
protect the environment; to measure and test the structural integrity of
many different materials; and much more.

Since 1937 when the company was founded, Perkin-Elmer has established its
reputation as a formidable international competitor with quality products
backed by extensive customer service and support. With a major portion of
revenues coming from outside the United States, Perkin-Elmer's long-time
strength in global markets has been integral to its leadership.
Approximately 3,100 Analytical Instruments Division employees are involved
in developing, manufacturing, marketing and servicing Perkin-Elmer products
around the world. The Division has global representation in nearly 100
countries with locations in North America, Latin America, Europe, the Far
East, the Middle East, Africa, and Russia.


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C. Jannuzi