Bel Comments on April 23, 2007 Letter from Technitrol.JERSEY CITY, N.J. -- Bel Fuse Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BELFA) (NASDAQ:BELFB) commented today on the letter it received yesterday from Technitrol, Inc. (NYSE NYSE See: New York Stock Exchange :TNL TNL The Next Level (church; gaming clan) TnL Transform and Lighting (video games) TNL Technical Newsletter TNL target nomination list (US DoD) ) increasing its offer to acquire Bel to $43.00 per share in cash, subject to certain conditions. Bel's Board of Directors believes that Technitrol's proposal, like its first proposal, significantly undervalues Bel's stock. Bel's Board expressed confidence in management's plans, including Bel's acquisition strategy. While Bel confirmed that it is engaged in the bidding stage with respect to one potential acquisition, Bel declined to provide further details, citing its confidentiality obligations. About Bel Bel (www.belfuse.com) and its subsidiaries are primarily engaged in the design, manufacture and sale of products used in networking, telecommunications, high speed data transmission and consumer electronics. Products include magnetics (discrete components An elementary electronic device constructed as a single unit. Before integrated circuits (chips), all transistors, resistors and diodes were discrete. They are widely used in amplifiers and other devices that use large amounts of current. , power transformers and MagJack[R]s), modules (DC-DC DC-DC Direct Current to Direct Current (power conversion) converters, integrated analog front end modules, custom designs), circuit protection (miniature, micro and surface mount fuses) and interconnect (1) To attach one device to another. (2) A physical port (plug, socket) or wireless port (transmitter, receiver) used to attach one device to another. devices (passive jacks, plugs and cable assemblies). The Company operates facilities around the world. 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. Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. The factors that could cause actual results to differ materially from such statements are detailed from time to time in the Company's SEC reports. No assurance can be given that any acquisition currently being considered by the Company will ultimately be pursued and/or consummated by the Company. In light of the risks and uncertainties, there can be no assurance that any forward-looking statement will in fact prove to be correct. We undertake no obligation to update or revise any forward-looking statements. |
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