CIT Exchangeco Declares Quarterly Dividend

PEMBROKE, Bermuda and NOVA SCOTIA, Canada, Dec 12, 2001 /PRNewswire via COMTEX/ -- The Board of Directors of Tyco International Ltd. (NYSE: TYC, LSE: TYI, BSX: TYC), has declared a regular quarterly cash dividend of one and one quarter cents per common share. The Board of Directors of CIT Exchangeco (TSE: CGX.U), a subsidiary of Tyco Capital Corporation and Tyco International Ltd., has declared a quarterly cash dividend of U.S. $0.0086 per exchangeable share. The U.S. $0.0086 dividend represents 0.6907 of Tyco's regular quarterly dividend payable to holders of Tyco common shares. Each CIT Exchangeco exchangeable share is exchangeable for 0.6907 of a Tyco common share. The dividends are payable on February 1, 2002 to shareholders of record on January 2, 2002.

About Tyco International Ltd,

Tyco International Ltd. (NYSE: TYC; LSE: TYI; BSX: TYC) is a diversified manufacturing and service company. Tyco is the world's largest manufacturer and servicer of electrical and electronic components; the world's largest designer, manufacturer, installer and servicer of undersea telecommunications systems; the world's largest manufacturer, installer and provider of fire protection systems and electronic security services and the world's largest manufacturer of specialty valves. Tyco also holds strong leadership positions in medical device products, financing and leasing capital, plastics and adhesives. Tyco operates in more than 100 countries and had reported fiscal 2001 sales in excess of $36 billion.

SOURCE Tyco International Ltd.

CONTACT: investors, R. Jackson Blackstock, Senior Vice President, +1-212-424-1344, or media, Maryanne Kane, Chief Communications Officer, +1-603-502-3981, or +1-508-747-0800, both of Tyco International (US) Inc.www.tyco.com http://www.prnewswire.com