The Jones Group Inc. (ticker: JNY, exchange: New York Stock Exchange (.N))
News Release -
Jones Apparel Group Extends Tender Offer for Maxwell Shoe Company Inc. Until May 17, 2004
NEW YORK, April 19 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc.
("Jones") (NYSE: JNY) today announced that MSC Acquisition Corp., an indirect
wholly owned subsidiary of Jones ("MSC"), has extended its $20.00 per share
cash tender offer for all of the outstanding shares of Class A Common Stock,
together with the associated preferred stock purchase rights, of Maxwell Shoe
Company Inc. ("Maxwell") (Nasdaq: MAXS). The offer, which was scheduled to
expire at 12:00 Midnight, April 19, 2004, has been extended until 5:00 p.m.,
New York City time on Monday, May 17, 2004, unless further extended.
As of 12:00 Midnight on April 18, 2004, Maxwell stockholders had tendered
and not withdrawn 236,834 shares pursuant to MSC's tender offer.
Jones Apparel Group, Inc. (http://www.jny.com) is a leading designer and marketer
of branded apparel, footwear and accessories. Our nationally recognized
brands include Jones New York, Evan-Picone, Norton McNaughton, Gloria
Vanderbilt, Erika, l.e.i., Energie, Nine West, Easy Spirit, Enzo Angiolini,
Bandolino, Napier, Judith Jack, Kasper, Anne Klein, Albert Nipon and Le Suit.
We also market apparel under the Polo Jeans Company brand licensed from Polo
Ralph Lauren Corporation, costume jewelry under the Tommy Hilfiger brand
licensed from Tommy Hilfiger Licensing, Inc. and the Givenchy brand licensed
from Givenchy Corporation, and footwear and accessories under the ESPRIT brand
licensed from Esprit Europe, B.V. Celebrating more than 30 years of service,
we have built a reputation for excellence in product quality and value and in
Investors and security holders are urged to read the disclosure documents
filed with the Securities and Exchange Commission (the "SEC") on March 23,
2004 and from time to time, including the tender offer statement, regarding
the proposed transaction between MSC and Maxwell. Investors and security
holders may obtain a free copy of the disclosure documents (when they are
available) and other documents filed by Jones or MSC with the SEC at the SEC's
website at www.sec.gov. In addition, documents filed with the SEC by Jones or
MSC may be obtained free of charge from Jones by directing a request to Jones
Apparel Group, Inc., 250 Rittenhouse Circle, Keystone Park, Bristol,
Pennsylvania 19007, Attention: Chief Operating and Financial Officer.
Investors and security holders are also urged to read the consent
solicitation statement relating to the solicitation of consents of Maxwell
stockholders when it becomes available. Jones filed an amended preliminary
consent solicitation statement on April 9, 2004 with the SEC and will file a
definitive consent solicitation statement as soon as practicable thereafter.
Investors and security holders may obtain a free copy of the preliminary
consent solicitation statement, the definitive consent solicitation statement
(when it is available) and other documents filed by Jones or MSC with the SEC
at the SEC's website at www.sec.gov. In addition, documents filed with the
SEC by Jones or MSC may be obtained free of charge from Jones by directing a
request to Jones Apparel Group, Inc., 250 Rittenhouse Circle, Keystone Park,
Bristol, Pennsylvania 19007, Attention: Chief Operating and Financial Officer.
CERTAIN INFORMATION CONCERNING PARTICIPANTS
Jones, MSC and, in each case, certain of its officers, directors and
nominees for the directorships of Maxwell, among others, may be deemed to be
participants in the solicitation of Maxwell's stockholders. The security
holders of Maxwell may obtain information regarding the names, affiliations
and interests of individuals who may be participants in the solicitation of
Maxwell's stockholders in the amended preliminary consent solicitation
statement filed by Jones with the SEC on Schedule 14A on April 9, 2004.
SOURCE Jones Apparel Group, Inc.