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Exhibit 99.2
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FOR IMMEDIATE RELEASE
CONTACTS: Tom Barrows Michael Irving
Investor Relations Investor Relations
Pacific Aerospace & Electronics Continental Capital
(509) 667-9600 (407) 682-2001
PACIFIC AEROSPACE & ELECTONICS, INC. EXTENDS
EXPIRATION DATE OF PUBLIC WARRANTS
WENATCHEE, WA - May 30, 2000 - Pacific Aerospace & Electronics, Inc. (Nasdaq:
PCTH), announced today that it has extended the expiration date of its publicly
traded warrants from July 15, 2001 to July 15, 2003. No other terms of the
warrants were changed. The Company currently has 2,295,000 public warrants
outstanding resulting from a public offering completed in July 1996. The
warrants are traded on Nasdaq under the symbol "PCTHW".
As amended, each warrant entitles the holder to purchase one share of common
stock of Pacific Aerospace & Electronics, Inc. for $4.6875 per share until July
15, 2003, unless the Company redeems the warrants prior to that date. The
Company may redeem the outstanding warrants, in whole or in part, at a price of
$0.25 per warrant, if the closing bid price of the Company's common stock has
been at least $9.375 per share for the 20 consecutive trading days prior to the
redemption notice. As of today, none of the warrants have been exercised or
redeemed.
"We are pleased to extend the expiration date of our public warrants," said Don
Wright, CEO. "The warrants represent an opportunity for the Company to obtain
significant additional capital without incurring additional costs. We have taken
this step because we don't want the opportunity to expire prematurely, and
because we want to give our warrant holders sufficient time to realize the value
of their warrants."
Pacific Aerospace & Electronics, Inc. is an international engineering and
manufacturing company specializing in technically demanding component designs
and assemblies for global leaders in the aerospace, defense, electronics,
medical, energy and transportation industries. The Company utilizes specialized
manufacturing techniques, advanced materials science, process engineering and
proprietary technologies and processes to its competitive advantage. Pacific
Aerospace & Electronics has approximately 1,100 employees worldwide and is
organized into three operational groups -- U.S. Aerospace, U.S. Electronics and
European Aerospace. More information may be obtained by contacting the company
directly or by visiting its Web site at www.pcth.com.
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