ARAMARK Completes Tender Offer for 6 3/4% Guaranteed Notes Due 2004.Business Editors PHILADELPHIA--(BUSINESS WIRE)--June 20, 2003 ARAMARK Corporation (NYSE NYSE See: New York Stock Exchange :RMK RMK Remark (Weather METAR) RMK Rocky Mountain King (Polaris Snowmobiles) RMK Remarks RMK Resource Manager Kernel ) today announced that it had completed its offer to purchase for cash any and all of the 6 3/4% Guaranteed Notes due Aug. 1, 2004 (CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. No. 038522AD0) issued by ARAMARK Services, Inc. and guaranteed by ARAMARK Corporation. The company purchased $94,289,000.00 aggregate principal amount of the Notes that were validly tendered on or prior to the expiration of the offer as of 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time on June 19, 2003. The cash total consideration paid or payable in respect of the purchased Notes, including accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. , equals approximately $101,854,183.90, which, as previously disclosed, is expected to be financed through a combination of the proceeds from the company's recent divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of ARAMARK Educational Resources Inc. and borrowings under the company's existing $1.0 billion bank credit facility. J.P. Morgan Securities Inc. acted as dealer manager for the tender offer. This announcement does not constitute an offer with respect to any securities. About ARAMARK ARAMARK is a world leader in providing managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality -- including food, facility and other support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services and uniform and career apparel. ARAMARK has leadership positions serving the business, education, healthcare, government and sports and recreation segments. In FORTUNE Magazine's 2003 survey of the "Most Admired Companies in America," ARAMARK ranks No. 1 in the outsourcing services category and is No. 10 among all companies included in the survey by overall score as evaluated by peers within the industry. Headquartered in Philadelphia, ARAMARK has approximately 200,000 employees serving clients in 18 countries. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Statements made in this press release regarding future matters are forward-looking statements that involve risks and uncertainties. Investors are cautioned against placing undue reliance upon forward-looking statements. Forward-looking statements regarding the tender offer are based on current expectations. The conduct of the tender offer is subject to a variety of uncertainties including the variability of interest rates and levels of Noteholder participation. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. This release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the notes of ARAMARK Corporation or its subsidiaries. The offer to buy the Notes is only being made pursuant to the tender offer documents, including the Offer to Purchase the company will be distributing to noteholders. The offer is not being made to noteholders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the offer is required to be made by a licensed broker or dealer, it shall be deemed to be made by J.P. Morgan Securities Inc. on behalf of the company. |
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