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Exhibit 99.1
FOR IMMEDIATE RELEASE
Contacts: Duane Kimble - CFO Joel Pomerantz
Baldwin Piano The Dilenschneider Group
(513) 754-4647 (212) 922-0900
BALDWIN PIANO SHAREHOLDERS REJECT
SHAREHOLDER PROPOSAL; ELECT DIRECTORS
MASON, OH, June 16, 2000 -- Shareholders of Baldwin Piano and Organ
Company (NASDAQ: BPAO) meeting here today, elected the slate of seven directors
recommended by the Board, including two new directors all for a term of one
year. In addition, the shareholders, signifying their confidence in Baldwin's
management, rejected a proposal presented by a shareholder.
The re-elected directors are: Karen L. Hendricks, chairman, chief
executive officer and president; William B. Connell, chairman of EBT Holdings,
Inc.; Herbert A. Denton, president of Providence Capital; John H. Gutfreund,
president of Gutfreund & Company, Inc.; and Joseph H. Head, chairman of Atkins &
Pearce, Inc. Brent D. Baird and James T. Heffernan, both private investors, were
elected for the first time.
Shareholders also ratified the appointment of Deloitte & Touche LLP as
the company's independent auditors for 2000.
Baldwin Piano & Organ Company has marketed keyboard musical products
for over 138 years. Baldwin, maker of America's best selling pianos, also
manufactures electronic and electro-mechanical components for Original Equipment
Manufacturers.
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"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995:
This release contains forward looking statements that are subject to risk and
uncertainties, including, but not limited to, the impact of competitive products
and pricing, product demand and market acceptance, reliance on key strategic
alliances, fluctuations in operating results and other risks detailed from time
to time in the company's filing with the Securities and Exchange Commission.
