EXHIBIT 19
NOVARTIS AND WESLEY JESSEN RECEIVE U.S. FEDERAL TRADE
COMMISSION REQUEST FOR ADDITIONAL INFORMATION AND
NOVARTIS EXTENDS TENDER OFFER
Atlanta, GA, and Des Plaines, IL, June 30, 2000 - CIBA Vision Corporation,
the eye care unit of Novartis AG (NYSE: NVS), and Wesley Jessen VisionCare,
Inc. (NASDAQ: WJCO) today jointly announced that Novartis and Wesley Jessen
have received a request for additional information and documentary material
from the Federal Trade Commission. The waiting period under the
Hart-Scott-Rodino Act will expire ten days after Novartis substantially
complies with the FTC's request or upon earlier termination of the waiting
period by the FTC. Novartis and Wesley Jessen are in continuing discussions
with the FTC and hope to resolve the matter promptly.
CIBA Vision also announced that WJ Acquisition Corp., an indirect wholly
owned subsidiary of Novartis, is extending the offer to acquire all
outstanding shares of common stock of Wesley Jessen (and associated
preferred share purchase rights) to 12:00 midnight, New York City time, on
July 25, 2000. The offer was previously scheduled to expire at 12:00
midnight, New York City time, on Monday, July 3, 2000.
Based on the latest count of tendered shares, approximately 5,705,361
shares of Wesley Jessen common stock (and associated preferred share
purchase rights) have been tendered and not withdrawn pursuant to the
tender offer. In accordance with the terms of the Offer to Purchase, dated
June 6, 2000, WJ Acquisition Corp. is exercising its option to extend the
offer to allow stockholders who have not previously tendered to tender
their shares.
As a consequence of the extension of the expiration date, holders of Wesley
Jessen common stock may tender or withdraw shares until 12:00 midnight, on
July 25, 2000, unless the offer is further extended.
The tender offer is being made through, and the foregoing is qualified in
its entirety by reference to, Novartis' Offer to Purchase, dated June 6,
2000, and the related letter of transmittal. Wesley Jessen stockholders
should read such documents completely prior to making any decision as to
the tender offer.
FORWARD LOOKING STATEMENTS
The foregoing communications contain forward-looking statements within the
meaning of the Safe Harbor Provisions of the Private Securities Litigation
Reform Act of 1995 (the "Safe Harbor Provisions"). CIBA Vision and Wesley
Jessen are under no obligation to (and expressly disclaim any such
obligation to) update or alter their forward-looking statements whether as
a result of new information, future events or otherwise. The Safe Harbor
Provisions are not applicable to the foregoing communications to the extent
that they constitute tender offer materials and have not been judicially
determined to be applicable to such communications to the extent that they
constitute soliciting materials.
FOR FURTHER INFORMATION PLEASE CONTACT:
CIBA Vision Corporation
Kristie Madara (678) 415-3646
Wesley Jessen
Kevin Ryan, CEO
Edward Kelley, CFO
(847) 294-3000
George Sard/David Reno
Sard Verbinnern & Co.
(212) 687-8080
