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[LETTERHEAD]
VARI-LITE INTERNATIONAL
NEWS RELEASE
For Immediate Publication
VARI-LITE INTERNATIONAL, INC. ANNOUNCES
AGREEMENT TO SELL SHOWCO, INC.
DALLAS, Texas - October 31, 2000 - Vari-Lite International, Inc. (Nasdaq:
LITE) announced today that it has entered into a letter of intent to sell
Showco, Inc., its sound reinforcement business, to an affiliate of Clair
Brothers Audio, Inc., in Lititz, Pennsylvania.
"The combination of Showco and Clair Brothers will create the most impressive
sound reinforcement company in the world," said Rusty Brutsche, chairman and
chief executive officer of Vari-Lite. "The decision to sell Showco to Clair
Brothers was based upon the long-term benefits to Showco's customers and
employees as Vari-Lite concentrates its efforts on the development,
manufacture and sale of its VARI-LITE-Registered Trademark- automated
lighting systems and continued operation of our lighting rental and
production services offices in North America, Asia and London."
The sale is subject to various conditions and scheduled to be completed by
Dec. 15, 2000.
ABOUT VARI-LITE INTERNATIONAL
Vari-Lite International is a leading worldwide designer, manufacturer and
distributor of proprietary automated lighting systems. The Company also
provides related equipment and services to the entertainment industry,
serving markets such as concert touring, theater, television and film and
corporate events. The Company sells and rents its VARI-LITE-Registered
Trademark- automated lighting systems through a domestic and international
network of Vari-Lite offices and independent dealers.
Vari-Lite International, Inc. shares are traded on the Nasdaq National Market
under the symbol LITE.
The foregoing paragraphs contain certain forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Although the Company believes the expectations contained
in such forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to be correct. These expectations may
involve risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to, factors
detailed in the Company's Securities and Exchange Commission filings.
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FOR FURTHER INFORMATION CONTACT:
VARI-LITE INTERNATIONAL, INC. CLAIR BROTHERS AUDIO
JERRY L. TROJAN TROY CLAIR
VICE PRESIDENT - FINANCE AND CHIEF FINANCIAL OFFICER 717-626-4000
214-819-3244
