Danaher Corporation announced today that it was the successful bidder for the assets of Gasboy International, Inc. ("Gasboy"), a unit of Tokheim Corporation, in an auction conducted pursuant to a bidding procedures order issued by the United States Bankruptcy Court for the District of Delaware. The successful bid was for approximately $38 million. The bid remains subject to approval by the United States Bankruptcy Court for the District of Delaware at a sale hearing scheduled to take place on February 25, 2003. The contemplated transaction remains subject to other customary conditions. Gasboy, with revenues of approximately $40 million, is a manufacturer and seller of commercial electronic and mechanical petroleum dispensing systems, fleet management systems and transfer pumps, primarily for non-retail petroleum applications.

Danaher Corporation is a leading manufacturer of Process / Environmental Controls and Tools and Components (http://www.danaher.com/).

Statements in this release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. These include economic and currency conditions, market demand, pricing, and competitive and technological factors, among others, as set forth in the company's SEC filings.

SOURCE: Danaher Corporation