United Capital Announces Results of its "Dutch Auction" Self-Tender Offer

4 October 1999

United Capital Announces Results of its "Dutch Auction" Self-Tender Offer

    GREAT NECK, N.Y.--Oct. 4, 1999--United Capital Corp. (ASE:AFP) today announced that, in accordance with the results of its Dutch Auction self-tender offer which expired on Sept. 30, 1999 at 5:00 P.M., New York City time, the Company will purchase all of the approximately 275,000 shares validly tendered at a price of $17.50 per share.
    The depositary for the offer will promptly issue payment for the shares accepted under the offer. The shares purchased represent about 5.5% of the 5,013,647 shares outstanding on Aug. 11, 1999, the last full trading day prior to the announcement of the offer.
    Certain of the statements in this press release are not historical facts and are "forward-looking statements" that involve risks and uncertainties, including general economic conditions, competition, potential technological changes, and potential changes in customer spending and purchasing policies and practices. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved including the financial impact of this transaction.
    United Capital Corp. owns and manages real estate and through subsidiaries, provides engineered products to industrial and automotive markets worldwide.