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                                                                    Exhibit 99.1


     The following important factors affect our business and operations
generally or affect multiple segments of our business and operations:

     OUR OPERATING RESULTS COULD BE HARMED IF THE INDUSTRIES INTO WHICH WE SELL
     OUR PRODUCTS ARE IN DOWNWARD CYCLES.

          Some of the industries and markets into which we sell our products are
     cyclical. Industry downturns often are characterized by reduced product
     demand, excess manufacturing capacity and erosion of average selling
     prices. Any significant downturn in our customers' markets or in general
     economic conditions would likely result in a reduction in demand for our
     products and could harm our business. For example, in 1998 the operating
     results of our Fluid Sciences segment were adversely affected by the
     downturn in the semiconductor market.


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     IF WE DO NOT INTRODUCE NEW PRODUCTS IN A TIMELY MANNER, OUR PRODUCTS COULD
     BECOME OBSOLETE, AND OUR OPERATING RESULTS WOULD SUFFER.

          We sell many of our products in industries characterized by rapid
     technological changes, frequent new product and service introductions and
     evolving industry standards. Without the timely introduction of new
     products and enhancements, our products could become technologically
     obsolete over time, in which case our revenue and operating results would
     suffer. The success of our new product offerings will depend upon several
     factors, including our ability to:

        - accurately anticipate customer needs;

        - innovate and develop new technologies and applications;

        - successfully commercialize new technologies in a timely manner;

        - price our products competitively and manufacture and deliver our
          products in sufficient volumes and on time; and

        - differentiate our offerings from our competitors' offerings.

          Many of our products are used by our customers to develop, test and
     manufacture their products. We therefore must anticipate industry trends
     and develop products in advance of the commercialization of our customers'
     products. In developing any new product, we may be required to make a
     substantial investment before we can determine the commercial viability of
     the new product. If we fail to accurately foresee our customers' needs and
     future activities, we may invest heavily in research and development of
     products that do not lead to significant revenue.

     ECONOMIC, POLITICAL AND OTHER RISKS ASSOCIATED WITH INTERNATIONAL SALES AND
     OPERATIONS COULD ADVERSELY AFFECT OUR SALES.

          Since we sell our products worldwide, our businesses are subject to
     risks associated with doing business internationally. We anticipate that
     revenue from international operations will continue to represent a
     substantial portion of our total revenue. In addition, many of our
     manufacturing facilities, employees and suppliers are located outside the
     United States. Accordingly, our future results could be harmed by a variety
     of factors, including:

        - changes in foreign currency exchange rates;

        - changes in a country's or region's political or economic conditions,
          particularly in developing or emerging markets;

        - longer payment cycles of foreign customers and difficulty of
          collecting receivables in foreign jurisdictions;

        - trade protection measures and import or export licensing requirements;

        - differing tax laws and changes in those laws;

        - difficulty in staffing and managing widespread operations;

        - differing labor laws and changes in those laws;

        - differing protection of intellectual property and changes in that
          protection; and

        - differing regulatory requirements and changes in those requirements.

     FLUCTUATIONS IN OUR QUARTERLY OPERATING RESULTS MAY CAUSE OUR STOCK PRICE
     TO DECLINE.

          Given the nature of the markets in which we participate, we cannot
     reliably predict future revenue and profitability. Changes in competitive,
     market and economic conditions may cause us to adjust our operations. A
     high proportion of our costs are fixed, due in part to our significant
     sales, research and development and manufacturing costs. Thus, small
     declines in revenue could disproportionately affect our


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     operating results in a quarter. Factors that may affect our quarterly
     operating results and the market price of our common stock include:

        - demand for and market acceptance of our products;

        - competitive pressures resulting in lower selling prices;

        - adverse changes in the level of economic activity in regions in which
          we do business;

        - adverse changes in industries, such as pharmaceutical discovery,
          telecommunications, semiconductors and electronics, on which we are
          particularly dependent;

        - changes in the portions of our revenue represented by our various
          products and customers;

        - delays or problems in the introduction of new products;

        - our competitors' announcement or introduction of new products,
          services or technological innovations;

        - increased costs of raw materials or supplies; and

        - changes in the volume or timing of product orders.

          In addition, the stock market has experienced extreme price and volume
     fluctuations. This volatility has significantly affected the market prices
     of securities for reasons frequently unrelated to or disproportionate to
     the operating performance of specific companies. These broad market
     fluctuations may adversely affect the market price of our common stock.

     WE MAY NOT BE ABLE TO SUCCESSFULLY IMPLEMENT OUR ACQUISITION STRATEGY,
     INTEGRATE ACQUIRED BUSINESSES INTO OUR EXISTING BUSINESS OR MAKE ACQUIRED
     BUSINESSES PROFITABLE.

          One of our strategies is to supplement our internal growth by
     acquiring businesses and technologies that complement or augment our
     existing product lines. We may be unable to identify or complete promising
     acquisitions for many reasons, including:

        - competition among buyers;

        - the need for regulatory approvals, including antitrust approvals; and

        - the high valuations of businesses.

          Some of the businesses we may seek to acquire may be marginally
     profitable or unprofitable. For these acquired businesses to achieve
     acceptable levels of profitability, we must improve their management,
     operations, products and market penetration. We may not be successful in
     this regard and may encounter other difficulties in integrating acquired
     businesses into our existing operations.

          To finance our acquisitions, we may have to raise additional funds,
     either through public or private financings. We may be unable to obtain
     such funds or may be able to do so only on unfavorable terms.

     WE FACE AGGRESSIVE COMPETITION IN MANY AREAS OF OUR BUSINESS; IF WE DO NOT
     COMPETE EFFECTIVELY, OUR BUSINESS WILL BE HARMED.

          We encounter aggressive competition from numerous competitors in many
     areas of our business. We may not be able to compete effectively with all
     of these competitors. To remain competitive, we must develop new products
     and periodically enhance our existing products in a timely manner. We
     anticipate that we may have to adjust prices of many of our products to
     stay competitive. In addition, new competitors may emerge, and entire
     product lines may be threatened by new technologies or market trends that
     reduce the value of these product lines.


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     IF WE FAIL TO MAINTAIN SATISFACTORY COMPLIANCE WITH THE FOOD AND DRUG
     ADMINISTRATION'S REGULATIONS AND THOSE OF OTHER GOVERNMENTAL AGENCIES, WE
     MAY BE FORCED TO RECALL PRODUCTS AND CEASE THEIR MANUFACTURE AND
     DISTRIBUTION, AND WE COULD BE SUBJECT TO CIVIL OR CRIMINAL PENALTIES.

          Some of the products produced by our Life Sciences segment are subject
     to regulation by the United States Food and Drug Administration and similar
     international agencies. These regulations govern a wide variety of product
     activities, from design and development to labeling, manufacturing,
     promotion, sales and distribution. If we fail to comply with the FDA's
     regulations or those of similar international agencies, we may have to
     recall products and cease their manufacture and distribution. In addition,
     we could be subject to fines or criminal prosecution.

     CHANGES IN GOVERNMENTAL REGULATIONS MAY REDUCE DEMAND FOR OUR PRODUCTS OR
     INCREASE OUR EXPENSES.

          We compete in markets in which we or our customers must comply with
     federal, state, local and foreign regulations, such as environmental,
     health and safety and food and drug regulations. We develop, configure and
     market our products to meet customer needs created by these regulations.
     Any significant change in these regulations could reduce demand for our
     products.

     OBTAINING AND ENFORCING PATENT PROTECTION FOR OUR PROPRIETARY PRODUCTS,
     PROCESSES AND TECHNOLOGIES MAY BE DIFFICULT AND EXPENSIVE; WE MAY INFRINGE
     INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES.

          Patent and trade secret protection is important to us because
     developing and marketing new technologies and products is time-consuming
     and expensive. We own many U.S. and foreign patents and intend to apply for
     additional patents to cover our products. We may not obtain issued patents
     from any pending or future patent applications owned by or licensed to us.
     The claims allowed under any issued patents may not be broad enough to
     protect our technology.

          Third parties may seek to challenge, invalidate or circumvent issued
     patents owned by or licensed to us or claim that our products and
     operations infringe their patent or other intellectual property rights. We
     may incur significant expense in any legal proceedings to protect our
     proprietary rights or to defend infringement claims by third parties. In
     addition, claims of third parties against us could result in awards of
     substantial damages or court orders that could effectively prevent us from
     making, using or selling our products in the U.S. or abroad.

     WE HAVE SUBSTANTIAL EXISTING DEBT AND MAY INCUR ADDITIONAL DEBT IN THE
     FUTURE.

          We have substantial amounts of outstanding indebtedness. Our
     substantial level of indebtedness increases the possibility that we may be
     unable to generate cash sufficient to pay the principal of, interest on and
     other amounts due in respect of our indebtedness when due. We may also
     obtain additional long-term debt and working capital lines of credit and
     issue additional commercial paper to meet future financing needs, which
     would have the effect of increasing our total leverage.

          Our substantial leverage could have significant negative consequences,
     including:

        - increasing our vulnerability to general adverse economic and industry
          conditions;

        - limiting our ability to obtain additional financing;

        - requiring the dedication of a substantial portion of our cash flow
          from operations to service our indebtedness, thereby reducing the
          amount of our cash flow available for other purposes, including
          capital expenditures;

        - limiting our flexibility in planning for, or reacting to, changes in
          our business and the industries in which we compete; and

        - placing us at a possible competitive disadvantage with less leveraged
          competitors and competitors that may have better access to capital
          resources.


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          A significant portion of our outstanding indebtedness bears interest
     at floating rates. As a result, our interest payment obligations on such
     indebtedness will increase if interest rates increase.


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