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News Release . . . .
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FOR: Hooper Holmes, Inc.
CONTACT: Exhibit 99.1
Fred Lash ------------
Chief Financial Officer
908/766-5000
FOR IMMEDIATE RELEASE
Investors: Theresa Schillero
Media: Stacey Nield
Morgen-Walke Associates
212/850-5600
HOOPER HOLMES, INC. ANNOUNCES SHARE REPURCHASE PROGRAM
Basking Ridge, NJ, June 1, 2000 - Hooper Holmes, Inc. (AMEX:HH) announced
today that its Board of Directors has authorized the repurchase of up to 2.5
million shares of the Company's common stock during this calendar year. The
Company currently has 66.2 million shares outstanding. The stock repurchases
under this program will be made in the open market at the discretion of the
Company's management. The timing and amounts of any stock repurchases will
depend on many factors, including the market price of the common stock and
overall market conditions. Repurchased shares will be used to support employee
incentive compensation programs and for other corporation purposes.
Jim McNamee, Chairman, President, and Chief Executive Officer, stated, "At
current price levels, management and the Board of Directors believe the
repurchase of Hooper Holmes common stock provides our shareholders with a
significant value over the long term and represents an excellent investment
opportunity for the Company. We remain confident in the underlying strengths of
the Company and its growth opportunities."
Hooper Holmes, Inc. provides health information services on insurance
policy applicants to the life insurance industry. The Company provides these
health information services through over 300 locations nationwide.
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[LETTERHEAD OF MORGEN - WALKE ASSOCIATES, INC.]
