BEI Technologies, Inc. Declares One-For-One Stock Dividend Doubling Shares Outstanding
9 October 2000
BEI Technologies, Inc. Declares One-For-One Stock Dividend Doubling Shares OutstandingSAN FRANCISCO, Oct. 9 BEI Technologies, Inc. announced today that the Board of Directors has declared a stock dividend payable to BEI Technologies stockholders. A dividend has been declared of one share of BEI Technologies, Inc. common stock for each share of BEI Technologies, Inc. common stock held as of the close of business on October 30, 2000, effective immediately following the effectiveness of the OpticNet dividend (See related press release, "BEI Technologies, Inc. Announces Approval of OpticNet Distribution and a Special Cash Dividend"). Distribution of the BEI Technologies stock dividend will occur on or about November 21, 2000. BEI Technologies, Inc. is an established manufacturer of electronic sensors, motors, actuators and motion control products used for factory and office automation, medical and scientific equipment, military, aviation and space systems, and transportation equipment including automobiles, trucks and off-road equipment. The Company's micromachined quartz GyroChip(R) sensors are used in advanced vehicle stability control systems and a significant increase in the production of those sensors has been in progress since the middle of 1998. BEI also manufacturers electronic steering wheel position sensors, seat-memory modules, throttle position and pressure sensors and other devices used in automotive systems. GyroChip is a registered trademark of BEI. Except for historical information, this news release may be deemed to contain forward-looking statements that involve risks and uncertainties, including statements with respect to timely development, acceptance and pricing of new products; impact of competitive products and price; the ability to manufacture products in sufficient volume on an efficient and timely basis; general economic conditions as they affect the Company's customers, as well as other risks detailed from time to time in the Company's reports to the Securities and Exchange Commission, including the Company's Form 10-K Annual Report for fiscal 1999. CONTACT: John LaBoskey, Senior Vice President-CFO of BEI Technologies, 415-956-4477.