Advanstar Communications Inc. Announces Results of Asset Sale Offer to Purchase.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Advanstar Communications Inc. ("Advanstar") today announced the results of its asset sale offer to purchase launched on May 24, 2005 (the "Asset Sale Offer"). Pursuant to the Asset Sale Offer, Advanstar offered to purchase up to $140,000,000 in aggregate principal amount of outstanding Second Priority Senior Secured Floating Rate Notes due 2008 ("Floating Rate Notes") and 10 3/4% Second Priority Senior Secured Notes due 2010 ("10 3/4% Notes") at a price of 100% of the principal amount thereof plus accrued and unpaid interest to the payment date. The Asset Sale Offer expired at 12:01 a.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 22, 2005. Advanstar has been advised by the depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. , Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank, N.A., that $8,665,000 principal amount of Fixed Rate Notes were tendered for purchase in the Asset Sale Offer, and Advanstar has agreed to purchase all such notes. No Floating Rate Notes were tendered in the Asset Sale Offer. Advanstar launched a separate tender offer and consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with (the "Tender Offer and Consent Solicitation") on May 31, 2005 to purchase any and all outstanding Floating Rate Notes for total consideration of $1,073 per $1,000 of principal amount outstanding. The Tender Offer and Consent Solicitation is currently scheduled to expire at 5:00 p.m., New York City time, on June 28, 2005. This press release is neither an offer to purchase nor a solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to sell the Securities. Persons with questions regarding the offer should contact David Montgomery David Montgomery (1927) is Farnam Professor of History Emeritus at Yale University. Montgomery is considered one of the foremost academics specializing in United States labor history and has written extensively on the subject. , Chief Financial Officer of Advanstar, by telephone at 212-723-9222. About Advanstar Communications Advanstar Communications Inc. (www.advanstar.com) is a leading worldwide media company providing integrated marketing solutions for the Fashion, Life Sciences and Powerports industries. Advanstar serves business professionals and consumers in these industries with its portfolio of 55 expositions and conferences, 55 publications and directories, 75 electronic publications and Web sites, as well as educational and direct marketing products and services. Market leading brands and a commitment to delivering innovative, quality products and services enables Advanstar to "Connect Our Customers With Theirs." Advanstar has roughly 1,000 employees and currently operates from multiple offices in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. Business Risks The statements contained in this press release and our other oral and written statements that are not historical in nature are 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. that involve risks and uncertainties. Although management of Advanstar believes that its expectations are based upon reasonable assumptions within the bounds of its knowledge of Advanstar's business, there can be no assurance that they in fact will be realized. Numerous factors may affect Advanstar's actual results and may cause results to differ materially from those expressed in forward-looking statements made by or on behalf of Advanstar including such factors listed from time to time in Advanstar's reports filed with the Securities and Exchange Commission including the factors described in our 2004 Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. under the heading "certain factors which may affect future results." Advanstar does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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