FORM OF LETTER TO SHAREHOLDERS FROM
ALAN C. BERGOLD, PRESIDENT OF COMPANY
EXHIBIT (A)(1)-3
[HIA LETTERHEAD]
October 30, 2000
Dear Shareholders of HIA, Inc.:
After evaluating a variety of alternatives to provide value to our
shareholders, we have determined that an offer to repurchase a portion
of our own shares at this time would be in the best interests of our
shareholders. The board of directors has approved an offer to
repurchase 3,000,000 shares of common stock, or 29% percent of our
10,360,231 outstanding shares, at a price of $.25 per share. A copy of
the offer to purchase is enclosed.
As you know, the trading volume for our stock has been very thin
and trading has been sporadic. This offer represents a substantial
premium to the trading price of our stock in recent weeks. On October
19, 2000, the closing price for the shares was $.13 per share. Section
7 of the offer to purchase sets forth the price range and trading
levels of the shares for the past two years.
We encourage each shareholder to carefully read the offer to
purchase and related materials. If you wish to accept the offer, you
must send a completed and signed Letter of Transmittal in the form
enclosed and your tendered shares to the depository for the offer. The
instructions to the Letter of Transmittal tell you how to tender your
shares.
Neither the Company nor our board of directors make any
recommendation whether to tender your shares to us. You should make
your decision independently after consulting with your advisors.
Representatives from the Company may contact you by phone to make
sure you have received the offer to purchase and related materials and
to answer any questions you may have. If you need information or
additional forms, please call Al Bergold, President of the Company, at
(303) 394-6046 or the depositary for the offer, Computershare Trust
Company, Inc. at (303) 986-5400.
Unless otherwise extended, the offer will expire at 5:00 p.m.
Mountain Standard Time on December 15, 2000.
We again encourage you to read carefully the enclosed materials.
As always, we appreciate your interest in HIA, Inc.
Sincerely,
/s/ ALAN C. BERGOLD
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Alan C. Bergold, President
