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3M Announces Subsequent Offering Period in MicroTouch Tender Offer

27 December 2000

3M Announces Subsequent Offering Period in MicroTouch Tender Offer

    ST. PAUL, Minn., Dec. 26 ?
    Minnesota Mining and Manufacturing Company and its wholly
owned subsidiary, Equinox Acquisition Inc., today announced that they have
elected to provide a subsequent offering period in connection with their
tender offer for shares of MicroTouch Systems Inc. .  The
initial offering period is scheduled to expire at midnight, New York City
time, on Wednesday, Jan. 3, 2001. The subsequent offering period will begin on
the next business day following the expiration of the initial offering period
and will expire at midnight, New York City time, on the fifth business day
following the expiration of the initial offering period.
    Certain options held by MicroTouch employees will not vest until the
expiration of the initial offering period. The subsequent offering period is
intended primarily to provide an opportunity for these optionholders to tender
their shares upon exercise of such options and, thus, avoid waiting until the
closing of the back-end merger (expected to occur in early February) to
receive the cash value of their options.
    As previously announced, 3M has received early termination of the waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating
to its proposed acquisition of MicroTouch Systems Inc.