CSS Industries, Inc. Authorizes Additional Common Stock Repurchases

Business Wire, Sept 28, 1999

PHILADELPHIA--(BUSINESS WIRE)--Sept. 28, 1999--

CSS Industries, Inc. (NYSE:CSS) announced that pursuant to its previously announced repurchase program it has bought back a total of 1,786,400 shares of the authorized 2,000,000 shares of its Common Stock.

CSS also announced that its Board of Directors had authorized an additional buy back of up to 500,000 shares of its Common Stock at prices and pursuant to other terms and conditions that the Company's officers deem appropriate. There are 9,473,327 shares of the Company's Common Stock presently outstanding.

Any such buy back is subject to compliance with applicable regulatory requirements and relevant covenants of the Company's $300,000,000 unsecured revolving credit facility.

CSS is a consumer products company primarily engaged in the manufacture and sale to mass market retailers of seasonal, social expression products, including gift wrap, gift bags, boxed greeting cards, gift tags, tissue paper, paper and vinyl decorations, classroom exchange Valentines, decorative ribbons and bows, Halloween masks, costumes, make-ups and novelties and Easter egg dyes and novelties.