Exhibit 99.1
Media Contact: Kekst & Co. STILWELL
Robert Siegfried (212-521-4832) FINANCIAL INC.
Michael Herley (212-521-4897)
920 Main Street, 21st Floor
Kansas City, Missouri 64105
Investors Contact: NYSE Symbol: SV
Landon H. Rowland (816-218-2416)
Chairman, President and CEO
Douglas E. Pittman (816-218-2415) Release No. 2000-09 December 7, 2000
Manager of Investor Relations
{NEWS RELEASE}
STILWELL FINANCIAL INC. ANNOUNCES
COMPLETION OF $600 MILLION IN BANK CREDIT FACILITIES AND
QUARTERLY DIVIDEND
Kansas City, Missouri
Stilwell Financial Inc. ("Stilwell"; NYSE: SV) today announced the completion of
a $300 million 364-Day Competitive Advance and Revolving Credit Facility and a
$300 million Five-Year Competitive Advance and Revolving Credit Facility. The
proceeds of any borrowings under the facilities are to be used for working
capital and general corporate purposes, including repurchases of outstanding
shares of common stock.
Landon H. Rowland, Chairman, President and Chief Executive Officer, said, "With
this new credit facility now in place, Stilwell and its subsidiaries have the
financial flexibility to support the growth and to strengthen the operations of
their businesses, as well as to provide the ability to capitalize on
opportunities as they arise."
In a separate matter, the Stilwell Board of Directors declared a $0.01 per share
quarterly dividend on Stilwell's outstanding common stock. The dividend will be
payable on January 31, 2001 to stockholders of record at the close of business
on January 15, 2001.
The primary entities comprising Stilwell are Janus Capital Corporation, an
approximately 82.5% owned subsidiary; Berger LLC, of which Stilwell owns 100% of
the preferred limited liability company interests and approximately 88% of the
regular limited liability company interests; Nelson Money Managers Plc, an 80%
owned subsidiary; and DST Systems, Inc., an equity investment in which Stilwell
holds an approximately 33% interest.
* * * * * * * * * *
This press release includes statements concerning potential future events
involving the Company, which could materially differ from the events that
actually occur. The differences could be caused by a number of factors including
those factors identified in Stilwell's Registration Statement on Form 10 dated
June 15, 2000 and filed by the Company with the Securities and Exchange
Commission (Commission file no. 001-15253). The Company will not update any
forward-looking statements in this press release to reflect future events or
developments.
............. THE END
