Wolverine Tube, Inc. Announces Secondary Offering Of Common Stock

Business Wire, August 7, 1995

HUNTSVILLE, Ala.--(BUSINESS WIRE)--August 7, 1995---Wolverine Tube, Inc. (NYSE:WLV) announced today the filing with the Securities and Exchange Commission of a Registration Statement relating to 5,396,380 shares of its common stock held by Genstar Capital Corporation ("Genstar").

Genstar currently holds 40 percent of Wolverine's outstanding common stock. At a minimum, Genstar will offer approximately 1 million shares in the offering. Shareholders of Genstar will have the right to control the balance of the shares covered by the Registration Statement and can include some or all of these shares in the offering. The exact size of the offering will be determined by the number of Genstar's shareholders who elect to participate in the offering. Wolverine expects that the exact number of shares to be included in the offering will be determined by the end of August.

CS First Boston will lead manage the proposed offering with Lehman Brothers acting as co-manager.

The Company will not be selling any shares in the offering and will not receive any of the proceeds of the offering.

The shares to be offered were acquired in the leveraged acquisition of Wolverine by Genstar in January of 1991. Genstar reduced its ownership in Wolverine in connection with Wolverine's initial public offering in August of 1993. The current reduction of ownership by Genstar is consistent with Genstar's original plan to exit its investments within four to seven years of original investment.

The Company is a leading North American manufacturer and distributor of copper and copper alloy tube.

A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission but 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 such State.

When available, copies of the preliminary prospectus may be obtained from CS First Boston Corporation's Prospectus Department, 55 East 52nd Street, New York, NY 10055-0186 and Lehman Brothers Prospectus Department, 536 Broadhollow Road, Melville, NY 11747.

CONTACT: Wolverine Tube Inc., Huntsville

James E. Deason, 205/353-1310