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EXHIBIT (a) (5) (c)
FOR IMMEDIATE RELEASE
Wolohan Contacts:
James L. Wolohan John A. Sieggreen
President and CEO Executive Vice President and COO
(517) 498-8401 (517) 498-8402
WOLOHAN LUMBER CO. ANNOUNCES RESULTS OF
DUTCH AUCTION TENDER OFFER
Saginaw, Michigan, December 18, 2000 -- Wolohan Lumber Co.
(NASDAQ: WLHN) today announced the results of its Dutch Auction tender offer
which expired December 15, 2000 at 5:00 p.m., Eastern time. Wolohan commenced
the tender offer to purchase shares of its common stock at a price between
$10.00 and $12.00 per share net to the seller in cash, without interest, on
November 9, 2000.
Based on the final count by the depositary for the tender offer,
Wolohan accepted for payment 1,190,638 shares of common stock, representing
approximately 26% of outstanding shares, at a purchase price of $12.00 per
share. Payment for the shares accepted for purchase will occur promptly by the
depositary.
The dealer manager for the tender offer was U.S. Bancorp Piper
Jaffray, Inc.
Wolohan is a full-line retailer of lumber, building materials and
related products used primarily for new-home construction and home-improvement
projects. Founded in 1964 with three stores and headquartered in Saginaw,
Michigan, Wolohan currently has 40 stores in operation under the names Wolohan
Lumber and CML. The Company's primary customer focus is the single-family
homebuilder, commercial and multi-family builder, remodeler and project-oriented
consumer. Wolohan offers a wide range of services including house design,
delivery, installation, various financing options and job-site contractor sales
representatives with experienced store support coordination.
