TDK TDK

RNS Number:0240P
Invensys PLC
19 July 2005

                    Invensys sells Lambda for $235m (#134m)

                               Update on trading


Invensys plc announces that it has signed an agreement to sell its Lambda
businesses ("Lambda") to TDK Corporation of Japan for a gross cash consideration
of #134(1) million. Lambda comprises a 58.2% interest in Densei-Lambda KK, which
is listed on the Tokyo Stock Exchange, and wholly-owned operations in Europe and
North America.

Lambda is a leading manufacturer of power supplies and uninterruptible power
supply systems, which are an important element in the supply, regulation and
distribution of electrical power in electronic equipment.

In the year ended 31 March 2005, Lambda had sales of #229 million and operating
profit of #11 million, before deduction of #8 million of operating exceptional
charges. The gross assets of Lambda (including goodwill) subject to the disposal
were #265 million at 31 March 2005 and the net assets (including goodwill) were
#175 million. Invensys plc's consolidated accounts contained a minority interest
charge of #2 million and balance sheet minority interests of #65 million in
respect of Densei-Lambda KK.

The transaction is subject to customary regulatory approvals and is expected to
be completed on or before 30 September 2005. The proceeds from this disposal
will be applied towards satisfying the Group's liabilities.

Ulf Henriksson, Chief Executive Designate of Invensys plc, commented:

"This disposal is a further step in the Group's previously stated plans for the
divestiture of non-core businesses. I am delighted that TDK has acquired Lambda
and I am confident that the business will prosper and grow under its ownership."

Invensys was advised by Nomura International and Morgan Stanley.


Note:

(1) Gross consideration of US$235 million converted at US$1.75/#1


Update on trading

In advance of the Group's Annual General Meeting on Thursday 21 July 2005,
Invensys plc has today issued the following update on trading:

"The Group's overall profit performance during the first quarter of the current
financial year was in line with expectations and ahead of the corresponding
period last year.

Process Systems achieved an increase in profitability as the benefits of its
performance improvement programme continue to come through. Eurotherm was in
line with last year. APV improved from the disappointing result in the first
quarter of last year but there are still further operational efficiencies to be
achieved. As expected, Rail Systems had a weaker quarter mainly due to the
deferment of orders by Network Rail in prior periods; we continue to expect an
upturn in orders later in the year. Also as expected, Controls had a weaker
first quarter than last year because of the effects of the manufacturing
problems in North America and the changing competitive environment in the white
goods sector.

Looking at the remainder of the year, we continue to expect our performance to
be in line with market expectations."


Contact:

Invensys plc   Steve Devany                        tel: +44 (0) 20 7821 3758
               Nina Delangle                       tel: +44 (0) 20 7821 2121

Maitland       Emma Burdett/Fiona Piper            tel: +44 (0) 20 7379 5151


About Invensys plc

Invensys is a global automation, controls and process solutions Group. Its
products, service expertise and ongoing support enable intelligent systems to
monitor and control processes in many different environments. Leading companies
in a wide range of industries rely on Invensys to help them perform with greater
efficiency, safety and cost-effectiveness.

The Invensys Group is made up of five businesses: Process Systems, APV,
Eurotherm, Rail Systems and Controls. The Group is headquartered in London and
is listed on the London Stock Exchange, with 30,000 employees working in 60
countries.

About TDK

TDK Corporation (NYSE: TDK) is a leading global electronics company based in
Japan. It was established in 1935 to commercialize "ferrite," a key material in
electronics and magnetics. The company today is a leader in the development of
next-generation technologies such as Blu-ray recording media, an optical disc
ideally suited for high-definition video recording. TDK offers a full line of
recordable DVD and CD media, digital camcorder tapes, professional data storage
solutions and much more.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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