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B/E Aerospace Subsidiary to Make Initial Public Offering.

Business Editors

WELLINGTON, Fla.--(BUSINESS WIRE)--Aug. 23, 2000

B/E Aerospace, Inc. (Nasdaq:BEAV) today announced that its wholly owned subsidiary, Advanced Thermal Technologies, Inc., filed a registration statement on Form S-1 to effect its initial public offering.

Advanced Thermal Technologies designs, manufactures and sells systems that precisely control the temperature of process chambers in equipment used to manufacture semiconductors. The offering is intended to consist of 4 million newly-issued shares of ATT stock at an estimated price range of $9-$11 per share. Following this offering, B/E Aerospace will own the remaining 10 million shares of ATT stock, assuming no exercise of the underwriters' over-allotment option. The offering is currently expected to be completed in the fall of this year.

ATT will use the net proceeds from the offering for working capital and general corporate purposes, and for payments to be made to B/E Aerospace totalling approximately $15 million. The $15 million amount is for the purchase of intellectual property from B/E, and repayment of advances made to ATT to fund its operations since inception.

The amounts paid to B/E Aerospace will be used to reduce B/E's indebtedness.

B/E Aerospace, Inc. is the world's leading manufacturer of cabin interior products, serving virtually all the world's airlines and aircraft manufacturers. B/E designs, develops, manufactures, sells and services a broad line of passenger cabin interior products for both commercial and business/VIP aircraft and provides interior design, reconfiguration and conversion services to its customers throughout the world. Information on B/E is available on the World Wide Web at www.beaerospace.com.

The registration statement filed with the Securities and Exchange Commission has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

This press release contains forward-looking statements which involve risks and uncertainties, including, but not limited to, the uncertainty as to the occurrence of the initial public offering of the shares of ATT or the price obtained for the shares in such offering.
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Publication:Business Wire
Geographic Code:1USA
Date:Aug 23, 2000
Words:400
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