PARIS (Standard&Poor's) June 12, 2003--Standard&Poor's Ratings Services said today that following the announcement by Schneider Electric (A/Stable/A-1) of its upcoming €422 million acquisition of TAC (not rated), a Sweden-based group specialized in building automation and control, the ratings and outlook on Schneider Electric remain unchanged. Although it will be somewhat weakened by this cash acquisition, Schneider Electric's financial profile is expected to remain strong for the rating. In addition, the group's business profile should benefit from the acquisition, as TAC strongly complements Schneider Electric in terms of products, geographic coverage, and technical expertise. The deal remains subject to regulatory approvals. ANALYST E-MAIL ADDRESSES xavier_buffon@standardandpoors.com nicolas_baudouin@standardandpoors.com bob_ukiah@standardandpoors.com CorporateFinanceEurope@standardandpoors.com
