Elster Announces Amendment Of Its Offer To Purchase And Intention To Give Notice Of A Makewhole Redemption Of Its 6.25% Senior Notes Due 2018

ESSEN, Germany, Oct. 12, 2012 /PRNewswire/ -- On September 17, 2012, Elster announced that it had commenced an offer to purchase its €250 million in aggregate principal amount of 6.25% Senior Notes due 2018 (the "Notes") (Regulation S Notes: Common Code 061702750, ISIN XS0617027502, Rule 144A Notes: Common Code 061702784, ISIN XS0617027841) upon the terms and conditions set forth in the offer to purchase dated September 17, 2012 (the "Change of Control Offer"), at a price in cash equal to 101% of the aggregate principal amount of the Notes, plus accrued and unpaid interest up to, but not including, the date of purchase. The Change of Control Offer is being made pursuant to the change of control provisions of the Indenture dated April 21, 2011, as amended or supplemented (the "Indenture") pursuant to which the Notes were issued.

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The Change of Control Offer will expire at midnight, New York Time, on October 18, 2012, unless extended (the "Expiration Date").

Today, Elster announced that no later than October 28, 2012, it intends to give notice of its intention to redeem the outstanding principal amount of the Notes at the applicable makewhole price pursuant to the Indenture, which will be higher than the price for the current Change of Control Offer.  Any such notice may be subject to conditions precedent.

Holders that have tendered Notes under the Change of Control Offer may withdraw such tenders at any time prior to the Expiration Date by following the procedures set forth in the Offer to Purchase.

This announcement is neither an offer to purchase nor a solicitation of an offer to sell securities. The offer to purchase is made solely by means of the Change of Control Offer.

About Elster

Elster is one of the world's largest electricity, gas and water measurement and control providers. Its offerings include distribution monitoring and control, advanced Smart Metering, demand response, networking and software solutions, and numerous related communications and services -- key components for enabling consumer choice, operational efficiency and conservation. Its products and solutions are widely used by utilities in the traditional and emerging Smart Grid markets.

Elster has one of the most extensive installed revenue measurement bases in the world, with more than 200 million metering devices deployed over the course of the last 10 years. It sells its products and services in more than 130 countries across electricity, gas, water and multi-utility applications for residential, commercial and industrial, and transmission and distribution applications.

For more information about Elster, please visit www.elster.com and follow us on Twitter at www.elster.com/twitter.

SOURCE Elster



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