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Genuine Parts Acquisition Inc. Completes Its Offer for UAP Inc.

2 December 1998

Genuine Parts Acquisition Inc. Successfully Completes Its Offer for UAP Inc.


    ATLANTA--Dec. 2, 1998--Genuine Parts Company . Genuine Parts Acquisition Inc., a wholly-owned subsidiary of Genuine Parts Company, announced today that 9,569,654 Class A Restricted Voting Shares and 2,830,258 Class B Shares of UAP Inc. ("UAP") (representing 99.55% of the outstanding Class A Restricted Voting Shares other than those already held by an affiliate of Genuine Parts Company, and 100% of the outstanding Class B Shares, on a fully diluted basis) were tendered pursuant to its offer of November 9, 1998 for all the issued and outstanding Class A Restricted Voting Shares and Class B Shares of UAP. The offer expired at 5:00 p.m. (Montreal time) on December 1, 1998.
    Genuine Parts Acquisition Inc. will take up and pay for all Class A Restricted Voting Shares and Class B Shares of UAP tendered pursuant to the offer no later than December 11, 1998. The offer price for the Class A Restricted Voting Shares and Class B Shares of UAP is $28.50 per share.
    Genuine Parts Acquisition Inc. announced that it will exercise its right of compulsory acquisition under the Companies Act (Quebec) to acquire the remaining Class A Restricted Voting Shares not tendered under the offer.
    Genuine Parts Company, headquartered in Atlanta, Georgia, is engaged in the distribution of automotive replacement parts from 62 NAPA Distribution Centers serving approximately 5,600 NAPA Auto Parts Stores nationwide, in Canada through its joint venture, NAPA/UAP, and in Mexico through its joint venture, Grupo Auto Todo. The company also distributes industrial replacement parts in the U.S. and Canada through its Motion Industries subsidiary and office supply products nationwide through its office products subsidiary, S. P. Richards Company. EIS, Inc. distributes electrical and electronic components from 56 stocking facilities located throughout the United States.