Mikasa announces final results of its Dutch auction tender offer

Business Wire, Sept 17, 1996

LONG BEACH, Calif.--(BUSINESS WIRE)--Sept. 17, 1996--Mikasa Inc. (NYSE: MKS) today announced the final results of the completion of its "Dutch Auction" self-tender offer.

The tender offer expired at 5:00 p.m., Eastern Time, on Friday, Sept. 6, 1996.

The Company announced that an aggregate of 1,686,658 shares of its Common Stock were properly tendered and not withdrawn. The Company has accepted for purchase all of the shares properly tendered and not withdrawn and will pay a purchase price of $11.25 per share, for an aggregate purchase price payment of $18,974,902.50.

The depositary for the tender offer, The First National Bank of Boston, will be issuing payment promptly for the shares accepted under the tender offer. The shares to be purchased represent approximately 8.41 percent of the shares outstanding immediately prior to the tender offer.

After the purchase of the shares pursuant to the offer, the Company will have approximately 18,359,195 shares of Common Stock outstanding. Dillon, Read & Co. Inc. acted as financial advisor and Georgeson & Company Inc. acted as information agent for the Company in connection with the tender offer.

Mikasa Inc. is a leading designer, developer and marketer of quality tabletop products in the United States and selected international markets. The Company markets its products to retail accounts including department stores, specialty retail stores and mass merchants, and through Company operated retail stores.

CONTACT: Mikasa Inc., Long Beach

Brenda W. Flores, 310/886-3700

or

Morgen-Walke Associates Inc.

Doug Sherk/Jenifer Kirtland/David Gennarelli, 415/296-7383

Emily Dupree/Andrew Cella, 212/850-5600