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Exhibit (a)(5)(D)
[ELDER-BEERMAN LOGO] NEWS
WHAT YOU WANT RELEASE
3155 El-Bee Rd. - Box 1448 - Dayton, OH 45401-1448 - 937-296-2700 -
FAX 937-296-4625
FOR MORE INFORMATION:
Scott J. Davido
Executive Vice President,
Chief Financial Officer
(937) 296-2683
ELDER-BEERMAN ANNOUNCES UPDATED PRELIMINARY RESULTS
OF SELF-TENDER OFFER
DAYTON, OHIO, OCTOBER 10, 2000 -- The Elder-Beerman Stores Corp.
(NASDAQ: EBSC) today announced updated preliminary results of its self-tender
offer, which expired at 12:00 midnight, New York City time, on Thursday October
5, 2000. Elder-Beerman commenced the tender offer on September 8, 2000 to
purchase up to 3,333,333 shares of its common stock at a price between $4.50 and
$6.00 per share, net to the seller in cash, without interest.
Based on an updated preliminary count by the depositary for the tender
offer, Elder-Beerman expects to purchase 3,333,333 shares at $5.00 per share
from the shares tendered at or below $5.00. Elder-Beerman also expects to
purchase an additional 129,285 shares, or approximately 0.9% of the outstanding
shares, which is the maximum additional amount that may be purchased without
amending or extending the tender offer. The total number of shares Elder-Beerman
expects to purchase is 3,462,618 shares. Shares tendered at prices higher than
$5.00 will be promptly returned. No pro ration of the shares tendered at or
below $5.00 will be necessary.
The actual number of shares to be purchased and the purchase price are
subject to final confirmation and the proper delivery of all shares tendered and
not withdrawn, including shares tendered pursuant to the guaranteed delivery
procedure. Payment for shares accepted and return of all shares tendered but not
accepted will occur as soon as practicable after determination of the
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number of shares properly tendered. After completion of the tender offer,
Elder-Beerman will have approximately 11,210,068 shares of common stock
outstanding.
The dealer-manager for tender offer was Wasserstein Perella & Co.
The nation's ninth largest independent department store chain, The
Elder-Beerman Stores Corp. is headquartered in Dayton, Ohio and operates 62
department stores in Ohio, West Virginia, Indiana, Michigan, Illinois, Kentucky,
Wisconsin and Pennsylvania. Elder-Beerman also operates two furniture
superstores. Elder-Beerman has announced it will open a new concept store in
Jasper, Indiana in November of 2000.
This press release contains "forward-looking statements," which are identified
by words such as "expects," "intends," and variations of such words and similar
expressions. Because forward-looking statements are based on a number of
beliefs, estimates and assumptions by management that could ultimately prove
inaccurate, there is no assurance that forward-looking statements will prove to
be accurate. Many factors could affect Elder-Beerman's actual future operations
and results, including the following: changes in its stock price; changes in
operating results; the continued availability and terms of financing; and other
general economic conditions that affect retail operations and sales, such as
increasing price and product competition; fluctuations in consumer demand and
confidence; the availability and mix of inventory; fluctuations in costs and
expenses; the effectiveness of merchandising strategies, advertising, marketing
and promotional programs; the ability of the company to achieve its expense
cutting initiatives; the timing and effectiveness of new store openings; the
growing impact of electronic commerce; weather conditions that affect consumer
traffic in stores; the continued availability and terms of financing; the
outcome of pending and future litigation; consumer debt levels; inflation and
interest rates and the condition of the capital markets.
Elder-Beerman undertakes no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events or otherwise.
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