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CUSIP No. 231157108 Page 6 of 7 Pages
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Exhibit 99 (a)(1)(I)
For Immediate Release
ADP COMPLETES TENDER OFFER FOR CUNNINGHAM GRAPHICS
ROSELAND, NJ (June 9, 2000) - Automatic Data Processing, Inc. (NYSE: AUD) today
announced that it had successfully completed its $22.00 per share cash tender
offer for all outstanding shares of common stock of Cunningham Graphics
International, Inc. (NASD: CGII). The tender offer expired on June 8, 2000, at
12:00 midnight, Eastern Time.
Approximately 5,491,650 Cunningham Graphics shares, representing about 95.3% of
the outstanding shares, had been validly tendered and not withdrawn prior to the
expiration of the offer (including approximately 73,043 shares that are
guaranteed to be delivered). All shares validly tendered and not withdrawn were
accepted for payment, and ADP will promptly pay for such shares.
ADP expects to complete the merger of Cunningham Graphics with a wholly owned
subsidiary of ADP within the next few days in accordance with New Jersey's
short-form merger provisions. As a result of the merger, each remaining
outstanding share of Cunningham Graphics will be converted into the right to
receive the same $22.00 per share in cash, without interest.
ADP, with over $6 billion in annual revenues and more than 450,000 clients, is
one of the largest independent computing services firms in the world.
This release contains "forward-looking statements" based on management's
expectations and assumptions and are subject to risks and uncertainties that may
cause actual results to differ from those expressed. Factors that could cause
differences include: ADP's success in obtaining, retaining and selling
additional services to clients; the pricing of products and services; overall
economic trends, including interest rate and foreign currency trends; stock
market activity; auto sales and related industry changes; employment levels;
changes in technology; availability of skilled technical associates; and the
impact of new acquisitions.
Contact Arthur Schmidt & Associates, New York
212-953-5555
Fax: 212-953-5554
Email: [email protected]
