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EXHIBIT 20.1
August 16, 2000 FOR IMMEDIATE RELEASE
Contact: Frank Meredith
Chief Financial Officer
Harman International Industries,
Incorporated
(818) 893-8411
HARMAN INTERNATIONAL INDUSTRIES, INC.
ANNOUNCES TWO-FOR-ONE STOCK SPLIT AND
REPURCHASE OF SHARES
WASHINGTON, D. C. -- Harman International (HAR:NYSE) today
announced that its Board of Directors has approved a two-for-one
split of its common stock. Shareholders of record as of the close
of business on August 28, 2000, will be entitled to one additional
share for every share they own on that date. The stock split will
be payable on or about September 19, 2000. The date on which
the split shares will be reflected on NYSE trading prices is
expected to be September 20, 2000. Harman International
will effect the stock split in the form of a stock dividend.
Harman also announced that it had repurchased 625,000 shares of
its common stock in July 2000 as part of its continuing share
repurchase program. At its August 7th meeting, the Board of
Directors approved the repurchase of an additional two million
shares after the stock split. The company expects to effect this
purchase during the next twelve months.
Harman International Industries, Incorporated (www.harman.com)
is a leading manufacturer of high-quality, high-fidelity audio and
video products for the consumer and professional markets. The
Company's stock is traded on the New York Stock Exchange
under the symbol: HAR.
Note: Except for historical information contained herein, the
matters discussed are forward-looking statements which involve
risks and uncertainties that could cause actual results to differ
materially from those suggested in the forward-looking statements,
including but not limited to the effect of economic conditions,
product demand, currency exchange rates, labor disputes,
competitive products and other risks detailed in the Company's
Securities and Exchange Commission filings.
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