Schneider Electric Completes Acquisition of BEI Technologies, Inc.

RUEIL-MALMAISON, France, Oct. 6  /PRNewswire/ -- Schneider Electric SA (Euronext: SCHN) announced the successful completion of its previously announced acquisition of BEI Technologies, Inc.  Schneider Electric acquired BEI through a cash tender offer of $35.00 per share and a subsequent merger of an indirect wholly-owned subsidiary with and into BEI.  As a result of the merger, any outstanding shares of common stock not validly tendered and accepted for payment in the tender offer were converted into the right to receive $35.00 per share in cash, without interest.  American Stock Transfer & Trust Company, the depositary for the tender offer, will mail to non-tendering stockholders materials to be used to exchange BEI stock certificates for such payment.  BEI shares have been delisted from Nasdaq and will cease trading at the close of business on October 5, 2005.

Requests for documents may be directed to Mackenzie Partners, Inc., the information agent for the tender offer, at 800-322-2885.  American Stock Transfer & Trust Company is acting as depositary for the tender offer.  The dealer manager for the tender offer is Merrill, Lynch, Pierce, Fenner & Smith Incorporated.

About Schneider Electric

Schneider Electric is the world's Power & Control leader. Through its world-class brands, Merlin Gerin, Square D and Telemecanique, Schneider Electric manufactures and markets a comprehensive range of products and services for the residential, buildings, industry, energy and infrastructure markets. Schneider Electric has 85,000 employees worldwide, operations in 130 countries and recorded sales of 10.4 billion euro in 2004 through the 13,000 sales outlets of its distributors.

   Schneider Electric:
   Give the best of the New Electric World
   to everyone, everywhere, at any time


DATASOURCE: Schneider Electric SA



CONTACT:  Investor Relations  - Schneider Electric, Alexandre Brunet,

[phone], fax - [phone]; Media contact - Schneider

Electric, Veonique Moine, [phone], fax - [phone];

Media contact - DGM, Michel Calzaroni, or Olivier Labesse,

[phone], fax - [phone]



Web site:  http://www.schneider-electric.com/ 

Copyright