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Exhibit (a)(5)
PREMIUMWEAR, INC.
FOR IMMEDIATE RELEASE
CONTACT: James S. Bury, Chief Financial Officer Daniel M. Junius or
PremiumWear, Inc. Timothy D. Althof
Phone: 612-979-1700 ext. 5034 New England Business Service
Web site: www.premiumwear.com Phone: 978-448-6111
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New England Business Service, Inc.'s Acquisition of PremiumWear, Inc.
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Receives Early Antitrust Clearance from FTC
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MINNETONKA, Minn., June 27 /PRNewswire/ -- PremiumWear, Inc. (Nasdaq:
WEAR - news) and New England Business Service, Inc. (NYSE: NEB - news) announced
today that the companies have received notice from the Federal Trade Commission
that early termination of all waiting periods under the Hart-Scott- Rodino
Antitrust Improvements Act applicable to New England Business Service's proposal
to acquire the outstanding public shares of PremiumWear has been granted.
As previously announced, NEBS, through a wholly owned subsidiary, has
offered to acquire all of the outstanding shares of PremiumWear common stock for
$13.50 per share in cash. The tender offer is scheduled to expire on Friday,
July 7, 2000, unless extended.
Investors and security holders are strongly advised to read both the
tender offer filed by New England Business Service with the Securities and
Exchange Commission (SEC), and the solicitation/recommendation statement filed
by PremiumWear with the SEC. Investors and security holders may obtain a free
copy of these statements and other documents filed by New England Business
Service and PremiumWear at the SEC's web site at www.sec.gov . The tender offer
statement and related materials may be obtained for free by directing such
requests to New England Business Service Investor Relations. The
solicitation/recommendation statement and such other documents may be obtained
by directing such requests to PremiumWear Investor Relations.
PremiumWear, Inc., based in Minnetonka, Minn., designs, sources and
markets knit and woven shirts and other apparel and accessories to the
promotional products/advertising specialty industry (PPAI/ASI) and to golf pro
and resort shops. PremiumWear's products are marketed under its Page &
Tuttle(R)and Pickering brands and the licensed Munsingwear(R)and Field &
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Stream(R) brands. The Company markets on a commission basis additional,
complementary branded products to the promotional products/advertising specialty
industry. These branded product lines include: California Outerwear, Burk's
Bay(TM) leather outerwear and accessories, Winona Knitting Mills sweaters, and
CROAKIES(R) eyewear restraints and other accessories. New England Business
Service, Inc. is a leading supplier of business forms and other products and
services to 2.5 million active small business customers in the United States,
Canada, the United Kingdom and France. NEBS's products and services are marketed
through direct mail, telesales, dealers and the Internet.
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