Donovan Searles, LLC Announces Securities Class Action Filed Against Tyco International, Ltd

Philadelphia, December 21, 1999. The law firm of Donovan Searles, LLC, announced today that a class action lawsuit was filed in the United States District Court for the District of New Hampshire against Tyco International, Ltd. ("TYCO")(NYSE: TYC - news), its Chief Executive Officer and its Chief Financial Officer, on behalf of all persons who purchased TYCO securities between October 1, 1998 and December 8, 1999, inclusive (the "Class Period"), Case No. C-99-587-B. The plaintiff in the case is a stock purchaser who is alleged to have sustained losses as a result of defendants’ alleged violations.

The Complaint alleges that, during the Class Period, TYCO and the two officer defendants (collectively, the "Defendants") violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by, among other things, issuing materially false and misleading statements to the investing public which concealed the fact that TYCO had employed certain accounting devices and methods which made it appear certain recently acquired businesses were experiencing extraordinarily healthy growth rates which would not have been the case absent use of the undisclosed accounting devices. The Complaint further alleges that the price of TYCO’s shares was artificially inflated as a result of Defendants’ omissions of material fact and that the officer defendants sold a significant amount of their personal holdings of TYCO stock while in possession of the undisclosed material facts.

Plaintiff is represented by the law firm of Donovan Searles, LLC and others. The members of Donovan Searles, LLC have significant experience in litigating class actions on behalf of investors, shareholders and consumers.

If you are a member of the class described above, you may move the court to serve as lead plaintiff not later than February 10, 2000. If you wish to discuss this action, or have any questions concerning your rights, please contact Michael D. Donovan at Donovan Searles, LLC, 1845 Walnut Street, Suite 1100, Philadelphia, PA 19103; phone: (800) 619-1677 or (215) 732-6067; e-mail: mdonovan@donovansearles.com or by clicking here

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