Exhibit 99.1
FOR IMMEDIATE RELEASE
WHX CORPORATION EXTENDS CONSENT SOLICITATION
FOR 10 1/2% SENIOR NOTES DUE 2005
New York, September 27, 2000 -- WHX Corporation (NYSE: WHX) today announced that
it is extending the expiration date for its consent solicitation relating to its
10 1/2% Senior Notes due 2005 (the "Notes") until 5:00 p.m. New York City time
on October 3, 2000, unless further extended by WHX prior to such time. The
record date for the consent solicitation is the expiration date, as so extended.
WHX commenced soliciting consents from holders of its Notes to amendments of
certain covenants and other provisions of the indenture governing the Notes on
September 18, 2000.
The detailed terms and conditions of the consent solicitation are contained in
the consent solicitation statement dated September 18, 2000. Holders of Notes
can obtain copies of the Solicitation Statement and related material from the
information agent for the consent solicitation, Innisfree M&A, Incorporated, at
(888) 750-5834 (toll free) or (212) 750-5833 (collect). Donaldson, Lufkin &
Jenrette ("DLJ") is acting as Solicitation Agent for the solicitation. Questions
regarding the solicitation can be addressed to DLJ at (310) 282-7495 (call
collect).
WHX is a holding company that has been structured to invest in and/or acquire a
diverse group of businesses on a decentralized basis. WHX's primary businesses
currently are Handy & Harman, a diversified manufacturing company whose
strategic business segments encompass, among others, specialty wire, tubing, and
fasteners, and precious metals plating and fabrication, and WPC, a vertically
integrated manufacturer of value-added and flat rolled steel products. WHX's
other businesses include Unimast Incorporated, a leading manufacturer of steel
framing and other products for commercial and residential construction and WHX
Entertainment Corp., a co-owner of a racetrack and video lottery facility
located in Wheeling, West Virginia.
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, which are intended to be
covered by the safe harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainty. Although WHX believes
that the assumptions underlying the forward-looking statements contained herein
are reasonable, any of the assumptions could be inaccurate, and therefore, there
can be no assurance that the forward-looking statements included in this press
release will prove to be accurate. In light of the significant uncertainties
inherent in the forward-looking statements included herein, the inclusion of
such
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information should not be regarded as a representation by WHX or any other
person that the objectives and plans of WHX will be achieved.
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Contact: Niron Stabinsky
Donaldson, Lufkin & Jenrette
(310) 282-7495
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