Contact: Diana Burton
732-767-2255
For Immediate Release
U.S. INDUSTRIES DECLARES DIVIDEND OF LCA GROUP INC. STOCK
ISELIN, NJ, December 21 , 2000 - U.S. Industries, Inc. (NYSE-USI) announced
today that its Board of Directors, in accordance with its previously announced
intentions, has declared a dividend of its wholly-owned subsidiary, LCA Group
Inc., which consists of USI's lighting and industrial tools business. The
dividend will be in the form of one (1) share of LCA Group for each ten (10)
shares of USI held by shareholders of record as of January 10, 2001. The
dividend is subject to completion of new bank financing for both LCA and USI,
effectiveness of LCA's Form 10 registration statement and approval of the LCA
stock for listing on the New York Stock Exchange. The dividend is expected to be
tax-free to USI and its shareholders. The dividend is expected to be paid on
January 31, 2001.
U.S. Industries owns several major businesses selling branded, consumer-oriented
building products to leading home centers and mass merchants. These brands
include Jacuzzi, Ames/True Temper, Sundance Spas, and Zurn, among others.
Disclosure Concerning Forward-Looking Statements
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Any forward-looking statements made in this release represent management's best
judgment as to what may occur in the future. Various economic and competitive
factors could cause actual results to differ materially from those discussed in
such forward-looking statements, including some factors which will be outside of
the control of the Company, such as consumer spending patterns, availability of
consumer credit, interest rates, currency exchange rates, inflation rates, the
level of residential and commercial construction, and the cost of raw materials,
along with other specific factors with respect to the Company's businesses as
set forth in the Company's reports and other documents filed with the Securities
and Exchange Commission.
