Snyder Communications Completes Recapitalization.

BETHESDA, Md.--(BUSINESS WIRE)--Oct. 22, 1999--

Snyder Communications, Inc. (NYSE:SNC) today announced the completion of its recapitalization following approval by its stockholders at a special meeting today. Upon filing of the Company's amended and restated certificate of incorporation following the stockholder vote, the recapitalization became effective and the Company's existing common stock was replaced with two new classes of common stock called Circle.com stock and SNC stock. The Circle.com stock is intended to reflect separately the performance of the Company's Internet professional services business and the SNC stock is intended to reflect separately the performance of the Company's advertising and direct marketing businesses and a retained interest in Circle.com.

Upon effectiveness of the recapitalization, each share of the Company's existing common stock was changed into one share of SNC stock and .25 of a share of Circle.com stock. Commencing October 25, 1999, the Circle.com stock will begin trading on the Nasdaq National Market on a when-issued basis under the symbol: CIRCV. Shares of Circle.com stock will be distributed, along with cash in lieu of fractional shares, on October 28, 1999 to holders of record of the Company's existing common stock as of the close of business on October 22, 1999. The Circle.com stock will begin trading "regular way" on the Nasdaq National Market on October 29, 1999 under the symbol: CIRC. Certificates representing existing common stock now represent shares of SNC stock. The existing common stock has been redesignated as SNC stock on the New York Stock Exchange and will continue to be listed on the NYSE under the symbol: SNC. The SNC stock will trade "with due bills" through October 28, 1999 and will begin trading separate from the Circle.com stock on October 29, 1999.