AUSTIN, TEXAS (February, 2002)— In a significant expansion of its electrical testing and maintenance business, Emerson Process Management has acquired Gulf Western Electric (GWE), a leading worldwide supplier of electrical testing, maintenance and engineering services for improved electrical safety and reliability. The acquisition strengthens Emerson’s Asset Optimization capabilities that are designed to improve asset reliability, and overall equipment effectiveness. Emerson Process Management is a business of Emerson (NYSE:EMR)

"The acquisition of GWE confirms our commitment to quickly achieving our strategic growth objectives," commented Craig Llewellyn, president Asset Optimization division - Emerson Process Management. "We have targeted asset optimization services and solutions as a growth business and GWE clearly complements our electrical testing and maintenance activities in its geographic scope, customer base, and capabilities."

"Combining the businesses also holds significant synergy potential for the two companies," continued Llewellyn. "We have assembled a powerful portfolio of best-in-class technologies, geographic presence, dedicated employees, and satisfied customers, and we think Emerson is the right partner to help our customers achieve their plant’s true potential."

"Bringing the two companies together is an excellent move for GWE, for Emerson, and especially for our customers," says John White, president for Electro-Test, Emerson’s electrical testing and maintenance business. "GWE’s technology and expertise in high voltage substation field services and sophisticated protection systems, along with their electrical design services directly supports our strategy of enabling customers to achieve maximum return from existing equipment through improved productivity and reliability."

Mr. White goes on to say, "Through this merger, the GWE and Electro-Test electrical services team expands to truly impressive proportions. More than 550 employees nationwide and 30 service centers strategically located across the United States enable us to provide prompt, personal service to every customer."

Emerson’s comprehensive electrical service portfolio now includes

• Engineering and construction services
• Acceptance testing and commissioning
• Electrical maintenance services
• Evaluation and repair
• Predictive and preventive maintenance programs
• Transformer repair and service,
• Oil processing
• Switchgear testing, calibration and maintenance
• Circuit breaker repair, refurbishment, and upgrades
• Project management
• Training services
• Power systems services
• Energy management
• Conformity assessment
• Listing and labeling

Mr. Frank Phillips, GWE President, said, "Emerson was a good match for GWE and will provide new economies of scale and scope to allow continued growth. We are proud to have become part of the Emerson team. The acquisition strengthens Emerson by leveraging GWE dominance in the electrical reliability field and opening access of the GWE services to a vast existing customer base, and global sales and support capability. We saw joining the Emerson team as the best way to continue improving our service offerings while delivering their full benefits to an even broader range of customers."

GWE will be incorporated into the Emerson organization over the next several months. Their employees will become part of Emerson’s Asset Optimization services group. "Both companies are very excited about the future direction," adds Phillips. "We have similar perspectives on how our services can bring significant value to our customers, and very focused approaches to making it happen. Our service offerings are complementary, and we have been working successfully together for several months prior to the acquisition."

Emerson’s Asset Optimization solutions bring together a unique combination of world-class services and innovative technologies to help users make significant and continuous improvements in asset performance. Supporting this key functionality, Emerson’s PlantWeb® digital plant architecture delivers information on asset reliability and performance to people who run the business. Asset Optimization solutions improve plant availability, increase productivity and reduce equipment cost-of-ownership across the full spectrum of plant assets including mechanical equipment, process equipment, electrical and power systems, field devices, and personnel development.

About Emerson Process Management

Emerson Process Management, an Emerson business, is a leader in helping businesses automate their production, processing and distribution components in the chemical, oil and gas, pulp and paper, power, food and beverage, pharmaceutical, semiconductor, and other industries. The company combines superior products and technology with industry-specific engineering, consulting, project management and maintenance services. Emerson brands include PlantWeb®, Fisher®, Rosemount®, Intellution®, Micro Motion®, Westinghouse Process Control, DeltaV™, AMS, MDC, and CSI.

About Emerson

St. Louis-based Emerson is a global leader in bringing technology and engineering together to provide innovative solutions to customers in process control; electronics and telecommunications; industrial automation; heating, ventilating and air conditioning; and appliances and tools. Sales in fiscal 2001 were $15.5 billion.

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