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EXHIBIT 99.1
[REPUBLIC GROUP INCORPORATED LETTERHEAD]
NEWS RELEASE
REPUBLIC GROUP INCORPORATED STOCKHOLDERS APPROVE MERGER WITH PREMIER
CONSTRUCTION PRODUCTS ACQUISITION CORP.
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Hutchinson, Kan., Nov. 9, 2000--The shareholders of Republic Group Incorporated
("Republic") (NYSE:RGC) today voted at a shareholder meeting to approve the
merger of Republic with Premier Construction Products Acquisition Corp. The
merger will also become effective today, November 9, 2000.
Pursuant to the merger agreement, each share of outstanding Republic common
stock, together with the associated common stock share purchase rights, will be
cancelled and entitle the holder to $19.00 cash. Upon completion of the merger,
Republic will be the surviving corporation and a wholly-owned subsidiary of
Premier Construction Products, Inc., a privately held entity and successor to
Premier Construction Products Statutory Trust, the original party to the merger
agreement.
"We are extremely pleased to have completed this merger," said Phil Simpson,
Chairman and Chief Executive Officer of Republic, "and we are delighted that our
stockholders have agreed that the transaction and the price presented for their
approval were in their best interests. In this fortieth year of the Company's
existence, I wish to add my personal statement of gratitude to the many
stockholders, directors, employees, customers, suppliers and professional
advisors who have helped us along the way. We have long-standing relationships
with many of these persons. Also, I would like to thank the attorneys,
accountants and bankers who worked diligently to consummate this transaction in
recent months."
Republic's common stock trades on the New York Stock Exchange under the symbol
"RGC". Shares of Republic common stock will continue to trade on the New York
Stock Exchange until the close of business today, November 9, 2000, at which
time trading will be suspended and the shares delisted from the New York Stock
Exchange. Republic will also terminate its reporting requirements with the
Securities and Exchange Commission with respect to its common stock.
The Agreement and Plan of Merger dated as of August 11, 2000 among Premier
Construction Products Statutory Trust ("Premier") and Premier Construction
Products Acquisition Corp. ("Acquisition Sub") and Republic (the "Merger
Agreement") was included as part of the Proxy Statement previously distributed
to Republic stockholders and filed with the Securities Exchange Commission.
Republic Group Incorporated and its wholly-owned operating
subsidiaries--Republic Paperboard Company, Republic Fiber Company, and Republic
Gypsum Company--are manufacturers and marketers of 100% recycled paperboard,
recovered paper fiber and gypsum wallboard, servicing markets nationwide.
