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Waters Corporation Announces Agreement to Purchase Rheometric Scientific's Rheology Business
MILFORD, Mass., Oct 14, 2002 (BUSINESS WIRE) -- Waters Corporation (NYSE: WAT) today announced that it has entered into an agreement to acquire the worldwide rheology business of Rheometric Scientific, Inc. (AMEX: RHM) for $17 million in cash and the assumption of $6 million in trade debt. Pending RHM stockholder, creditor and SEC approval, the deal is expected to be complete in December 2002. Waters plans to merge the acquired business into its TA Instruments Inc. (New Castle, DE) operation.

Rheometric Scientific has maintained a strong position in controlled strain rheometers; these instruments are complementary to the controlled-stress equipment currently offered by TA Instruments. The acquired product lines are expected to add approximately $20 million on an annualized basis, to TA Instruments' sales. Waters expects to more than double its share in the rheology instrumentation market subsequent to the acquisition.

Waters Corporation holds worldwide leading positions in three complementary analytical technologies - high performance liquid chromatography (HPLC), mass spectrometry (MS) and thermal analysis (TA). These markets account for $4.2 billion of the overall $19 billion analytical instrumentation market. For further information about Waters Corporation, please visit the Company's web site at www.waters.info.

Rheometric Scientific, founded in 1970, manufactures instrumentation and provides laboratory services for material characterization, as well as the proteomics science. The Company's products and services are sold to numerous markets such as the petrochemical industry, academic and government research laboratories, and the food, pharmaceutical, biotechnology, and semiconductor industries worldwide. The Company is headquartered in Piscataway, New Jersey and has operations in the United Kingdom, Germany, France, Italy and Japan. More information about Rheometric Scientific may be obtained by calling 800-735-8550.

Certain statements contained herein are forward looking. Many factors could cause actual results to differ from these statements, including delays in product introductions, loss of market share through competition, introduction of competing products by other companies, pressures on prices from competitors and/or customers, regulatory obstacles to new product introductions, lack of acceptance of new products, changes in the healthcare market and the pharmaceutical industry, changes in distribution of the Company's products, and foreign exchange fluctuations. Such factors are discussed in detail in the Company's filings with the Securities and Exchange Commission.

CONTACT:
Waters Corporation
Gene Cassis
508-482-2349