EXHIBIT 99 (a)
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INSILCO
Excellence in Electronics and Telecommunications Components
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News Release
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For Immediate Release
Investors: Michael R. Elia Media: Melodye Demastus
Sr. Vice President & CFO Melrose Consulting
(614) 791-3117 (614) 771-0860
INSILCO HOLDING CO. COMPLETES SALE OF AUTOMOTIVE BUSINESSES AND
PURCHASE OF PRECISION CABLE MANUFACTURING
Columbus, Ohio, August 28, 2000 -- Insilco Holding Co. (OTC Bulletin
Board: INSL) today announced that on August 25, 2000, through its wholly owned
subsidiary, Insilco Corporation, it completed the previously announced sale of
its automotive businesses. Net proceeds of $143.8 million from the divestiture
were used to reduce drawn balances under the existing Bank Credit Facilities.
The Company also announced that as part of its strategic repositioning
it has changed the name of its operating subsidiary, Insilco Corporation, to
Insilco Technologies, Inc. (IT), amended IT's previous Bank Credit Agreement and
Facilities to $210 million, and completed IT's previously announced acquisition
of Precision Cable Manufacturing Company (PCM). Proceeds from the amended credit
agreement, net of fees and expenses, were used to repay the balances under the
previous Bank Credit Facilities, complete the acquisition of PCM, and increase
liquidity.
Insilco Holding Co., based in suburban Columbus, Ohio is a leading
global supplier of custom cable assemblies and wire harnesses; passive
electronic components, including high-speed network connectors and power
transformers; and high precision metal stampings. Insilco serves several rapidly
growing markets including the telecommunications, computer networking, data
processing, medical instrumentation and automotive markets. Insilco has
operations in the United States, Canada, Mexico, Northern Ireland, Ireland,
Puerto Rico and the Dominican Republic.
Investor Relations Contact: Michael R. Elia, (614) 791-3117 or write to Insilco
Holding Co., Investor Relations, 425 Metro Place North, Box 7196, Dublin, OH
43017 or call Melodye Demastus, Melrose Consulting (614) 771-0860. You may also
visit our web site at http://www.insilco.com.
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