NSAI Directors Propose Reverse Stock Plan

Business Wire, Dec 21, 1998

MEMPHIS, Tenn.--(BUSINESS WIRE)--Nov. 13, 1998--The board of NSA International Inc. (NASDAQ:NSAI) announced today that it will ask shareholders to approve a reverse stock split plan at the company's annual and special meeting to be held during the first quarter of 1999.

Under the plan, shareholders would receive one new share of NSAI common stock in exchange for each 2,400 shares currently owned. Only non-fractional shares would be issues; shareholders with fewer than 2,400 shares would receive cash consideration of $1.125 per share. If the proposed plan is approved, the number of NSAI common shares outstanding would be reduced from 4,695,036 to less than 2,000.

The board of directors concluded that the company has received little or no benefit from the public market, and thus has no reason to continue to carry the administrative burden or expense of remaining publicly held. Additional information, including record date, and annual and special meeting details will be released soon. Notice of the reverse split plan will be mailed to shareholders approximately one month prior to the meeting.

NSAI is finalizing its first Juice Plus shipments to its new Japanese master distributor. The Japanese distributor should begin selling Juice Plus in Japan soon.

NSAI primarily markets Juice Plus , a line of concentrated nutritional supplements, and air and water filtration systems through independent distributors and third party distribution arrangements in Europe, Canada, Central and South America, Australia, New Zealand, and the Far East. The company markets its products in the United States through NSA, a separate, privately held company founded in 1971.