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Tyco Prices $ 1 Billion of Debt Securities

07 7 2003

PEMBROKE, Bermuda, November 6, 2003 - Tyco International Ltd. (NYSE: TYC, BSX: TYC, LSE: TYI) today announced that it has agreed to privately place $1 billion in debt securities due November 15, 2013 of its wholly-owned subsidiary, Tyco International Group S.A. with a coupon of 6%, pursuant to Rule 144A and Regulation S of the Securities Act. The Company expects to use the proceeds from the offering to pay-down outstanding debt under its $2 billion 5-year revolving credit facility due February 2006 upon completing negotiation of a replacement of the credit facilities.

The debt securities will not be registered under the Securities Act of 1933. Unless so registered, the debt securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these debt securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT TYCO INTERNATIONAL LTD.

Tyco International Ltd. is a diversified manufacturing and service company. Tyco operates in more than 100 countries and had fiscal 2003 revenues from continuing operations of approximately $37 billion.