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Basking Ridge, NJ, February 25, 2000 - Hooper Holmes, Inc.(AMEX:HH) announced yesterday that the Company's registrationstatement to sell 3,250,000 shares of the company's common stock at$25.125 per share became effective at 9:11am on February 24, 2000.The $77 million net proceeds are expected to be utilized to pay downthe majority of the loan incurred for the acquisition of ParamedicalServices of America, Inc. (PSA) and for possible strategicacquisitions, working capital and general corporate purposes. A.G.Edwards and Sons, Inc. led the underwriting and co-managers were DainRauscher Wessles, The Robinson-Humphrey Company and SG Cowen.
James McNamee, Chairman, President and CEO of the Company, said,"We are very pleased that our success in our market has positioned usto take advantage of this public funding opportunity to pay down thetemporary loan incurred to close on the strategic acquisition of PSA.All members of our organization have participated in the significantgrowth of our 100 year-old company and have positioned us such that wehad a very positive offering." Fred Lash, Senior Vice President andChief Financial Officer, added, "The fine job performed by our leadand co-underwriters cannot be understated. We assembled a fine teamled by A.G. Edwards and Sons and appreciate the significant effortscontributed by all."
The Company, headquartered in Basking Ridge, provides health andother underwriting information on insurance policy applicants to thelife insurance industry. The Company provides these health informationservices through over 300 locations nationwide.
CONTACT: Fred Lash
Chief Financial Officer
908-766-5000
Ephraim Bernstein/Dory Lombardo
Media - Stacey Nield
Morgen-Walke Associates
212-850-5600
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