Schneider Electric acquires American Power Conversion

West Kingston, RI, Oct. 31, 2006 — American Power Conversion Corp. (APC), a provider of power availability solutions, and Schneider Electric SA, a provider of solutions for electrical distribution, industrial control and automation projects, announced that the two companies have executed a definitive merger agreement under which Schneider Electric will acquire all outstanding shares of APC for $31.00 per share in cash. The aggregate transaction value is approximately $6.1 billion.

The combination of these two businesses will create a business for both single-phase and three-phase uninterruptible power supply (UPS) systems as well a provider of integrated systems for IT and data center applications.

The transaction, which is expected to close in the first quarter of 2007, is subject to approval by APC shareholders and other customary conditions. The board of directors of APC has approved the transaction with Schneider Electric, and intends to recommend to APC’s shareholders that they approve the transaction. APC’s shareholders are expected to vote on the transaction in early 2007. Approval from Schneider Electric’s shareholders is not required.

Given the pending transaction, and the need to make filings with regulatory agencies, the company has suspended conference calls for the immediate future.

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