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NEWS RELEASE
June 14, 2000
FIBERCORE COMPLETES $30 MILLION PRIVATE PLACEMENT
CHARLTON, MA-- (BUSINESS WIRE)--FiberCore, Inc. (OTC-BB: FBCE).
FiberCore, a leading manufacturer of optical fiber and preform for the
telecommunication and data communications markets, today announced that it has
closed on a private placement with an institutional investor that provides for a
$30 million financing commitment. Under the terms of the agreement, FiberCore
received proceeds of $9.5 million with the remainder available under certain
terms and conditions.
The proceeds will be used to fund the recently announced acquisition of Xtal
Fibras Opticas, SA, a Brazilian manufacturer of optical fiber and preform with
the largest market share in Brazil, which is scheduled to close by June 30,
2000, and for further capacity expansion and other corporate purposes.
The financing was arranged by Gruntal & Co., New York, FiberCore's investment
banker.
For more information about the Company, its products, or shareholder information
please visit our Website at: www.FiberCoreUSA.com or contact us at: Phone -
(508) 248-3900 or by FAX - (508) 248-5588 or E-Mail [email protected]
Except for the historical matters discussed above, the statements in this press
release are forward looking and are made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from those projected as a result of certain
general economic and business conditions; loss of market share through
competition; introduction of competing products by other companies; changes in
industry capacity; pressure on prices from competition or from purchasers of the
Company's products; availability of qualified personnel; ability to obtain
required financing; dependence on a single manufacturing facility or limited
suppliers; the loss of any significant customers; and other factors detailed
from time to time in the Company's filings with the Securities and Exchange
Commission.
(News060b.doc)
FIBERCORE, INC. FIBER OPTICS FOR THE NEXT GENERATION
253 Worcester Rd o P.O. Box 180 o Charlton, MA 01507 o Tel: (508) 248- 3900
o Fax: (508) 248-5588
