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For Immediate Release EXHIBIT 99.1
Patterson Dental Announces 2 for 1 Stock Split
June 13, 2000 - St. Paul, MN - Patterson Dental Company (Nasdaq NMS: PDCO) today
announced that its board of directors has approved a 2-for-1 stock split to be
effected in the form of a 100% stock dividend payable July 14, 2000 to
shareholders of record June 30, 2000. The company will have approximately 67
million shares outstanding after the stock split.
"The board of directors shares management's confidence in Patterson's long-term
growth opportunity, which has been reflected in the strength of our earnings and
share valuation," commented Peter L. Frechette, president and chief executive
officer. "While many institutional investors own shares of Patterson, it is our
goal to keep the round lot price of Patterson Dental stock within a comfortable
range for individual investors as well."
Patterson Dental Company is one of the largest distributors of dental products
in North America. The Company, which functions as a full-service, value-added
supplier to dentists, dental laboratories, institutions, physicians and other
healthcare providers, provides: consumable products (including x-ray film,
restorative materials, hand instruments and sterilization products); advanced
technology dental equipment; practice management software; office forms and
stationery; and equipment and related dental services. Patterson Dental markets
its products and services through more than 1,000 sales representatives and
equipment specialists in the United States and Canada.
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This release contains forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are
information of a non-historical nature and may be affected by risks and
uncertainties which are inherent in the Company's business and beyond the
ability of the Company to control. Such risks and uncertainties could cause
actual results to differ materially from those anticipated. Accordingly, these
forward-looking statements are qualified in their entirety by the cautionary
language contained in the Company's filings with the Securities and Exchange
Commission.
For further information on Patterson Dental, visit our web site at
www.pattersondental.com. You can also receive information free of charge via fax
by dialing 1-800-PRO-INFO and entering the number 207.
For additional information contact:
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R. Stephen Armstrong
Executive Vice President and CEO
651-686-1600
Richard G. Cinquina
Equity Market Partners
612-338-0810
