Exhibit 99
FOR IMMEDIATE RELEASE
Investor Contact: Dale S. Lam
Chief Financial Officer
(540) 896-0457
Media Contact: Ray Atkinson
Communication Coordinator
(540) 896-0406
WLR FOODS REPORTS MERGER SCHEDULE
Broadway, Virginia, October 16, 2000 – WLR Foods, Inc. (Nasdaq: WLRF) today
announced that due to the schedule of the Securities and Exchange Commission (SEC) in
conducting a limited review of the Company’s preliminary proxy statement, filed
October 5, 2000, the proposed merger with Pilgrim’s Pride Corporation is now expected
to be completed during January 2001. The delay is necessary to provide sufficient time
between the mailing of the proxy statement to shareholders, once authorized by the SEC,
and the date of the special meeting of WLR Foods, Inc.’s shareholders which will be
held to approve the merger.
WLR Foods is a fully integrated provider of high quality, value-added
turkey and chicken products primarily under the Wampler Foods (R) brand. It is
nationally ranked as the seventh largest poultry food processor by sales volume and is an
international leader in poultry exports. WLR Foods has processing operations in
Virginia, North Carolina, West Virginia, and Pennsylvania.
Certain statements in this news release regarding future expectations
and financial performance, other than historical information, may be regarded as
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. It is important to note that the actual results could
differ materially from those projected in such forward-looking statements. For example, no
assurance is or can be given that the merger described above will be consummated. Readers
of this report are cautioned not to place undue reliance on the forward-looking statements
in this report. The foregoing release is not intended to solicit proxies in connection
with the proposed merger and shall not be deemed to be a proxy statement. WLR Foods will
separately solicit proxies by means of a proxy statement that will be distributed to its
shareholders.
