Agilent Technologies Announces $1.5 Billion Refinancing

SANTA CLARA, Calif.--(BUSINESS WIRE)--Agilent Technologies Inc. (NYSE:A) today announced an agreement with Lloyds TSB Bank plc to refinance the current $1.5 billion repurchase obligation of Agilent Technologies World Trade Inc.

Lloyds TSB has agreed, subject to specified conditions, to purchase the preferred stock of an Agilent subsidiary with an aggregate liquidation preference of $1.5 billion from its current owner and to extend until Jan. 27, 2011 the date on which Agilent Technologies World Trade is required to repurchase that preferred stock. Under the new terms, Agilent will be obligated to make quarterly payments to Lloyds TSB at a rate per annum, reset quarterly, based on LIBOR plus 175 basis points.

Merrill Lynch & Co. acted as the exclusive structuring and arranging agent for the transaction.

The deal is expected to close on Nov. 17, 2008, and is subject to the satisfaction of closing conditions contained in a purchaser agreement between Lloyds TSB and Merrill Lynch Capital Services Inc. relating to the purchase and sale of the preferred stock and repurchase obligation from the current owner, and customary closing conditions in a related agreement between Lloyds TSB and Agilent. More details are available in the Current Report on Form 8-K filed by Agilent.

Forward Looking Statements

This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, the expected closing of the repurchase obligation refinancing and the effectiveness of terms thereof. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the expectations described herein. Such risks and uncertainties include, but are not limited to, the risk that one or more conditions precedent to the closing of the refinancing will not be met, the effect of recent volatility in financial markets, the extent and duration of future economic and market disruptions, and the risks detailed in Agilent’s filings with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2008.

About Agilent Technologies

Agilent Technologies Inc. (NYSE: A) is the world’s premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company’s 20,000 employees serve customers in more than 110 countries. Agilent had net revenues of $5.4 billion in fiscal 2007. Information about Agilent is available on the Web at www.agilent.com.

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