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EXHIBIT 99-1
October 2, 2000
Mr. Thomas J. Crawford
Chairman
The York Group
8554 Katy Freeway, Suite 200
Houston, Texas 77024
Dear Tom:
First, congratulations on your recent appointment as Chairman.
As you are aware and as indicated in our 13-D filings of September 18, 2000 and
September 20, 2000, Wilbert has acquired a substantial interest in The York
Group and expects to continue purchasing stock. As of September 27, 2000,
Wilbert owns 1,046,400 shares of York and believe we are currently the Company's
largest shareholder. Based on York's news release of September 27, 2000, we
understand the Company has responded to our purchases by adopting a "shareholder
rights plan," commonly referred to as a poison pill. From the news release it
appears your intent is to essentially dilute Wilbert's holdings, if it makes
further purchases of York shares.
Since Wilbert began purchasing York's stock on August 10, 2000, the value of
York's shares has almost doubled. Therefore, it is difficult to see how limiting
further purchases by Wilbert, and thus eliminating an interested buyer of York
shares from the market, is in the best interest of York's shareholders. Indeed
your plan seems to provide a severe limitation on individual shareholders right
to freely sell their stock.
York's September 27, 2000 news release further indicated the shareholder rights
plan would allow the Company to "complete refinancing of its indebtedness
without distraction." As you know, Wilbert has substantial resources and has the
ability to assist York with its refinancing efforts. Again, we fail to see how
disenfranchising your largest shareholder and a potential source of financial
support is in the best interest of the Company or its shareholders.
Please consider this letter Wilbert's formal request for York's Board of
Directors to reverse its recent action in adopting a shareholder rights plan by
redeeming those "rights" and further to elect to exclude York from Section 203
of Delaware Corporate law and thus allowing Wilbert to make further purchases of
York stock without undue restrictions.
Thank you for your consideration. I look forward to seeing you at NFDA.
Very truly yours,
Curtis J. Zamec
Chairman, President and CEO
CJZ:bls
Enclosure
Via Facsimile Transmission, Original via Federal Express
