NEWS RELEASE
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FOR IMMEDIATE RELEASE
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OCTOBER 5, 2000
Contact BOWLIN:
Michael L. Bowlin, Chairman
(505) 266-5985
Rudy R. Miller, Chairman & CEO
The Miller Group
Investor Relations for the Company
(602) 225-0504
BOWLIN OUTDOOR ADVERTISING & TRAVEL CENTERS INCORPORATED
CONTINUES SEPARATION OF TRAVEL CETNERS BUSINESS AND FILES FORM 10
WITH SECURITIES AND EXCHANGE COMMISSION
ALBUQUERQUE, NEW MEXICO, OCTOBER 5, 2000 -- Michael L. Bowlin, Chairman,
President and Chief Executive Officer of BOWLIN Outdoor Advertising & Travel
Centers Incorporated (AMEX: BWN), announced today that it is proceeding with its
separation of its travel centers business from its outdoor advertising business.
As previously announced, the Company has entered into an Agreement and Plan of
Merger with Lamar Advertising Company for the acquisition of the Company's
outdoor advertising business.
The Company's travel center business will be contributed to Bowlin Travel
Centers, Inc., a newly formed subsidiary. Bowlin Travel Centers, Inc. has filed
a Form 10 to register as an independent reporting company under the Securities
and Exchange Act of 1934. Immediately prior to the closing of the merger with
Lamar Advertising Company, it is anticipated that the stock of Bowlin Travel
Centers, Inc. will be distributed to the shareholders of the Company.
BOWLIN Outdoor Advertising & Travel Centers Incorporated, as a regional leader
in non-metro markets for outdoor advertising displays, provides a full range of
service that includes sales, design, production and installation. The Company
also operates travel centers strategically located on major interstate highways
that utilize co-branding agreements with national companies. The Company's
current operations are located in the Southwestern United States.
CERTAIN STATEMENTS CONTAINED HEREIN WITH RESPECT TO FACTORS WHICH MAY
AFFECT FUTURE EARNINGS, INCLUDING MANAGEMENT'S BELIEFS AND ASSUMPTIONS
BASED ON INFORMATION CURRENTLY AVAILABLE, ARE FORWARD-LOOKING
STATEMENTS MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995. SUCH FORWARD-LOOKING
STATEMENTS THAT ARE NOT HISTORICAL FACTS INVOLVE RISKS AND
UNCERTAINTIES, AND RESULTS COULD VARY MATERIALLY FROM THE DESCRIPTIONS
CONTAINED HEREIN. FOR MORE DETAILS ON RISK FACTORS, SEE THE COMPANY'S
ANNUAL REPORTS ON FORM 10-K, QUARTERLY REPORTS ON FORM 10-Q AND OTHER
FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.
