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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
CONTACTS: Peter G. Hanelt
Chief Executive Officer/CFO
Natural Wonders, Inc.
(510) 252-6607
www.naturalwonders.com
NATURAL WONDERS COMPLETES ACQUISITION OF
WORLD OF SCIENCE
Fremont, CA - September 11, 2000-- Natural Wonders, Inc. (Nasdaq:
NATW), the leading specialty retailer of unique and affordable family gifts
inspired by the wonders of nature and science, today announced it had completed
its merger with World of Science, Inc., (Nasdaq: WOSI) another leading retailer
of a variety of traditional and distinctive science and nature products. At
World of Science's special shareholders meeting held on Friday, September 8th,
its shareholders approved Natural Wonders' acquisition of all the shares of
outstanding common stock of World of Science for $1.15 per share, in cash.
Peter G. Hanelt, CEO of Natural Wonders, Inc., said, "We are beginning
the integration of the two companies immediately and expect to complete the
transition very quickly. We value the contribution World of Science and its
employees have made in building the nature and science category. There is much
that we can learn from them as we now move forward together. We will strive to
preserve the superior sales performance of the Natural Wonders product
assortment with the improved margin from selected World of Science merchandise.
We will increase the number of stores in operation for the holidays from the
current 178 stores of Natural Wonders, as of the end of August 2000, to over 300
stores for the holidays. This will include approximately 45 holiday stores.
Moreover, the combination of the two companies creates the largest mall based
specialty retailer within the nature and science category."
"We expect the transition to be completed in time to take advantage of
what we hope to be a strong holiday season. In addition, Natural Wonders has
already taken steps to secure the necessary merchandise for the conversion of
numerous World of Science stores to the Natural Wonders merchandise assortment.
We believe that Natural Wonders' strong comparable sales results for August
support profitable growth as we transition the World of Science merchandise into
Natural Wonders' assortment. By combining the formidable talents and strengths
of the two companies, we believe that the powerful operating synergies will be
realized quickly with a positive impact upon profitability this fiscal year."
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"We will be locating our joint e-commerce initiative, initially to be
conducted under both www.worldofscience.com and www.naturalwonders.com sites at
the World of Science facility in Rochester, NY. We have identified our Internet
sales channel as a major growth opportunity and intend to immediately increase
our sites' functionality as well as merchandise assortment. The Internet
initiative will be staffed by former employees of World of Science and
supplemented by the Natural Wonders' e-commerce team, building upon the strength
of World of Science's award winning site."
Natural Wonders, Inc., is a specialty retailer of unique and affordable
family gifts inspired by the wonders of science and nature. The new Company
operates 279 stores, including 19 holiday stores, as of September 11, 2000.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: This press release contains certain forward-looking statements that
are subject to risks and uncertainties that could cause the Company's actual
results to differ materially from management's current expectations. These
factors include the Company's ability to purchase attractive and appropriate
merchandise, changes in consumer demands and preferences, competition from other
retailers, and uncertainties generally associated with gift retailing. Other
risk factors are detailed in the Company's Securities and Exchange Commission
filings.
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