Reebok announces preliminary results of 'Dutch Auction' self-tender offer

Business Wire, August 28, 1996

STOUGHTON, Mass.--(BUSINESS WIRE)--Aug. 28, 1996--Reebok International Ltd. (NYSE:RBK) today announced that a preliminary count by Boston Equiserve, the Depositary for the Company's "Dutch Auction" self-tender offer, indicates that, subject to final verification, 17,018,090 Common shares have been accepted for purchase at a price of $36.00 per share.

The self-tender offer commenced on July 30, 1996 and expired at 5:00 p.m., New York City time, on August 27, 1996. Prior to the tender offer, Reebok had 72,536,700 Common shares outstanding. Following the purchase of shares tendered in the "Dutch Auction," Reebok will have approximately 55,518,610 Common shares outstanding. Payment for shares properly tendered and accepted will be made promptly, subject to proper delivery of shares in accordance with the terms of the offer. The Company indicated that it would utilize senior bank financing underwritten by Credit Suisse to purchase the shares. CS First Boston acted as the Dealer Manager for the tender offer.

Reebok International Ltd., headquartered in Stoughton, MA, is a leading worldwide designer, marketer and distributor of sports, fitness and casual footwear, apparel and equipment. Principal operating units include the Reebok Division and the Rockport Company, Inc. Sales for 1995 totaled approximately $3.5 billion.

CONTACT: Reebok International

Joanne Parker

Director, Investor Relations

(617) 341-7017