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[AMP Letterhead]
September 4, 1998
Dear AMP Retiree:
I have been pleased by the enthusiastic response our profit improvement
plan has received from employees. And, on a personal note, I want to thank
all of you that have taken the time to share your thoughts and ideas. You
are very important to AMP, and I greatly appreciate your support.
All of us at AMP also feel very good about the support we are getting from
others, as well. AMP is well thought of by our customers, suppliers, local
governments and communities wherever we do business.
That was apparent on September 1 when AMP hosted a conference for the
media, community and government leaders at headquarters in Harrisburg. The
conference was attended by more than 80 leaders including: two members of
the U.S. House of Representatives, six members of the Pennsylvania General
Assembly, numerous county and local government officials, and
representatives of charitable and cultural organizations.
In my remarks, I thanked our friends for stepping forward to do everything
possible to help keep AMP in Pennsylvania. I told them that we know best
how to run our business and how we are committed to moving the company
further and faster to unlock its value.
At the conference, employees showed up with "AlliedSignal No!" buttons. I
think they're great! They certainly sum up my attitude about the
AlliedSignal tender offer.
Another example of the strong support we are receiving is the statement
made recently by Rick Santorum, one of Pennsylvania's U.S. senators.
Senator Santorum said, "It would be a serious blow to the Pennsylvania
economy to lose a major employer such as AMP. AMP's presence has been
positively felt in Pennsylvania for many years, not only by the creation of
thousands of high-quality jobs for Pennsylvanians, but through its long
record of community involvement. I support AMP's decision to fight to stay
in Pennsylvania and hope that the current situation can be resolved in the
best interest of AMP employees and our state economy."
We are thanking all of our Pennsylvania friends and neighbors for their
support in a number of ways including ads that began appearing today in
newspapers throughout Central Pennsylvania.
We will remind local leaders of the deep ties that AMP has to communities
where we do business and of our commitment as an active and supportive
corporate partner. We want to emphasize that the bond between AMP and
Pennsylvania communities did not happen overnight; it developed over more
than a half century.
PERFORMANCE IMPROVEMENT PLAN UPDATE
In my last letter, I told you we would let you know as we make progress on
implementing our plan. It's important that you know what we're doing, and
we will continue to keep you informed as we move ahead.
The plan is an important element of our strategy to make AMP even more
competitive. It will bring greater value to our shareholders and make AMP a
better, stronger company.
My management team is completely focused on achieving the plan, and we are
moving decisively.
On September 1, we announced that we are ceasing production at the M/A-COM
facility in Harlow, England, and consolidating manufacturing in Port
Glasgow, Scotland, from two buildings to one. These actions will lower
manufacturing costs and affect a number of employees through early
retirement, attrition and layoffs.
We are confident that our profit improvement plan will provide great value
to all of AMP's constituencies, including retirees. Your continued support
is vital. AMP needs your support now more than ever.
Sincerely,
Robert Ripp
Chairman and CEO
