Densei-Lambda Completes Phihong share Sale

TOKYO, February 9, 2000 --- Densei-Lambda K. K. (TSE 1^st Section, 6917), a leading manufacturer of power systems, today confirmed the sale of its shareholding in the Taiwanese company, Phihong upon the latterfs listing on the Taiwan Securities Exchange. The transaction resulted in a net capital gain to Densei-Lambda of 2 billion yen.

The disposal of Phihong shares forms part of Densei-Lambdafs ongoing strategy of focussing on its core businesses. As the effects of the sale on profits had already been factored in to Densei-Lambda's FY99 forecast announced in December 1999, the Company will make no change to this forecast as a result of this sale.

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Headquartered in Tokyo, Densei-Lambda is the Asian hub of operations for Invensys Power Systems. It is a research and development canter of excellence for DC-DC converters and switching power supply product development, manufacturing and purchasing. Densei-Lambda also provides marketing, sales and service support for Invensys Power Systemfs battery and uninterruptible power supply products.

Invensys Power Systems is the American-based world leader of secure power, energy storage, power conversion and telecom energy systems with 16,000 employees and $2.5 billion in sales. Invensys Power Systems is one of four divisions of Invensys plc, the $12 billion London-based leader in automation and controls.

For further information, please contact:

Masami Kobashi, Director, Densei-Lambda K. K. Tel: 03-3447-4411