Black Box Corporation Renews $180M Credit Facilities.

Business & High-Tech Editors

PITTSBURGH--(BUSINESS WIRE)--May 3, 2002

Black Box Corporation (Nasdaq:BBOX) today announced that it has renewed its existing credit facilities totaling $180 million with terms substantially similar to its previous agreements.

The Company's credit facilities are comprised of two agreements with their Bank Group, lead by Mellon Financial Corporation. The revolving credit agreement for $120 million was extended two additional years until April 4, 2005 and the short-term credit agreement for $60 million was extended until April 2, 2003.

Commenting on the credit renewal, Fred C. Young, Chief Executive Officer, said, "We appreciate the continued support of our nine member Bank Group. All of the existing seven Banks remained in the facility and there was an addition of two new Banks."

The current effective interest rate under these facilities is LIBOR plus 75 basis points, or approximately 2.7%. Borrowings under these facilities at March 31, 2002 were approximately $75 million, down from $121 million a year ago.

Black Box Corporation is the world's largest technical services company dedicated to designing, building and maintaining today's complicated network infrastructure systems. Black Box services clients in 132 countries throughout the world.