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OGDEN
Two Pennsylvania Plaza, New York, NY 10121
Quintin G. Marshall
[email protected]
Phone: (212) 868-5421
Fax: (212) 868-3558
www.ogdencorp.com
For Immediate Release
Ogden Corporation Announces Intention
to Review Classified Board
New York, N.Y., May 5, 1998 - R. Richard Albon, Chairman
and Chief Executive Officer of Ogden Corporation stated today
that if the non-binding shareholder proposal in the current proxy
to eliminate Ogden's Classified Board receives a level of support
at the upcoming Annual Meeting, equivalent to that received in
1997, then a recommendation would be made to the Ogden Board to
put forth a binding proposal. "As Chairman of the Board, I have
indicated my intention to several shareholders that I would make
a recommendation to Ogden's Board of Directors to act according
to our shareholders' wishes", said R. Richard Albon. "As such, I
would make the recommendation that Ogden's Board of Directors put
forth a binding proposal at the 1999 Annual Meeting recommending
that shareholders adopt a plan to declassify the Board."
Ogden Corporation (NYSE: OG) is a global corporation
focused on three business areas -- Entertainment, Aviation and
Energy. The Entertainment group has interests in themed and
location-based attractions; food and beverage concessions; venue
management; large format films and theatres; music, live theatre
and video production. The Aviation group provides group and cargo
handling; passenger services; fueling; and airport infrastructure
development and management. The Energy group develops, owns and
operates independent power facilities and provides related
infrastructure services.
Additional information on the company can be obtained
via the Internet, at www.ogdencorp.com, or toll-free (888)
643-3612.
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