H.B. Fuller Board Increases Shares Available under Executive Stock Purchase Loan Program

Business Wire, Nov 9, 2000

Business Editors

ST. PAUL, Minn.--(BUSINESS WIRE)--Nov. 9, 2000

H.B. Fuller Company announced today that its board of directors authorized an increase in the number of shares that may be purchased under the Company's Executive Stock Purchase Loan Program. The loan program was approved by the company's board of directors at its July meeting to purchase approximately $15 million or about 350,000 shares of stock under the plan using the prevailing stock price at that time. The board's action, announced today, authorizes an additional 200,000 shares, for a total of 550,000 shares available under the plan, to meet the original $15 million executive stock purchase target using the current stock price. To date, 27 of 33 eligible senior managers have taken advantage of the program, borrowing a total of $11.0 million in personal loans to buy, cumulatively, 358,497 shares of H.B. Fuller common stock.

The Executive Loan Program supports H.B. Fuller's executive stock ownership policy designed to further the company's strategy of closely aligning the interest of management and shareholders. The policy requires senior corporate and divisional managers to achieve ownership levels of the company's common stock equal to one to five times their annual salary, depending on their position. Executives are expected to sustain those levels, once met, throughout their employment with the company. The company expects that individuals who are subject to the executive stock ownership policy may utilize the Executive Stock Loan Program from time-to-time in the future in order to assist in achieving their ownership goals.

H.B. Fuller Company is a worldwide manufacturer and marketer of adhesives, sealants, coatings, paints and other specialty chemical products, with fiscal 1999 sales of $1.364 billion. Common stock is traded on the NASDAQ exchange under the symbol FULL. For more information about the company, visit the website at: http://www.hbfuller.com