(April 14, 2003) Harrisburg, Pa. and Korea -- Tyco Electronics Automation Group has entered into a distribution agreement with Mirae Corp.

Under the terms of the new agreement, Tyco Electronics is granted certain rights to sell and support the Mirae SMT product line in the Americas, including product engineering, field service and technical support functions. Certain select strategic accounts will continue to be covered by Mirae due to existing commitments that Mirae has in place. Mirae manufactures a complete line of SMT placement machinery for board-level assembly of printed circuit boards.

The Americas agreement builds upon the two companies' existing agreement in Europe, Middle East and Africa, which has been updated as well. This updated agreement allows Tyco Electronics to assume the sales, marketing and customer service responsibilities for all countries in the region, with the exception of Belgium, Luxembourg and Netherlands, Greece, Italy, Israel, Sweden and Turkey, which Mirae will handle. The effect of this arrangement gives customers the combined benefit of Mirae's innovative product offerings and Tyco Electronics' worldwide sales and service capability, along with the infrastructure of Tyco Electronics.

Mirae Corp. is a Korean based designer and manufacturer of semiconductor test handlers since 1983 and SMT component placement systems since 1999.

Tyco Electronics is the world's largest passive electronic components manufacturer; a world leader in cutting-edge wireless, active fiber optic and complete power systems technologies; and is also rapidly developing extensive networking and building technology installation services. For more information, visit www.automation.tycoelectronics.com.