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Exhibit 99.1
[LOGO] LONE STAR NEWS RELEASE
TECHNOLOGIES, INC.
CONTACT: CHARLES J. KESZLER
(972) 770-6495
Fax: (972) 770-6411
LONE STAR TECHNOLOGIES, INC. AMENDS REGISTRATION
STATEMENT TO CONVERT IT TO A SHELF REGISTRATION
Dallas, Texas, October 20, 2000 .... Lone Star Technologies, Inc. (Lone Star),
NYSE: LSS, today announced that it has filed an amendment to its registration
statement on file with the Securities and Exchange Commission, which
previously related to a proposed underwritten offering of 3,750,000 shares of
its common stock. The amendment converts the registration statement to a
universal shelf registration.
The universal shelf registration is intended to provide Lone Star flexibility
to raise up to $250 million from one or more offerings of common stock, debt
securities, preferred stock, depository shares or warrants, or any combination
of such securities, as market conditions warrant. In addition, the
registration includes up to 1,000,000 shares of Lone Star common stock that
can be offered and sold by a selling shareholder.
Net proceeds of any offering of these securities by Lone Star would be
intended to be used to repay debt, acquire other businesses, fund development
of new products, fund capital expenditures, and to provide funds for general
corporate purposes. Lone Star will not receive any proceeds from sales of
stock by the selling shareholder.
Lone Star Technologies, Inc. is a holding company whose principal operating
subsidiaries manufacture and market oilfield casing, tubing and line pipe,
specialty tubing products including finned tubes used in a variety of heat
recovery applications, and flat rolled steel and other tubular products and
services.
A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction in which
the offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.
This release contains forward looking statements based on
assumptions that are subject to a wide range of business
risks. There is no assurance that the estimates and
expectations in this release will be realized. Important
factors that could cause actual results to differ materially
from the forward looking statements are described in the
periodic filings of Lone Star Technologies, Inc. with the
Securities and Exchange Commission, including its Annual
Report on Form 10-KA for the year ended December 31, 1999.
