SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No. )
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[ ] Definitive Proxy Statement
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[X ] Soliciting Material Pursuant to Sections 240.14a-11(c) or Section
240.14a-12
NORTHFIELD LABORATORIES, INC.
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(Name of Registrant as Specified In Its Charter)
MANAGEMENT INSIGHTS, INC.
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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FOR IMMEDIATE RELEASE
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Contact:
Michael Eden
Management Insights, Inc.
14755 Preston Road Suite 525
Dallas, TX 75240
(972) 755-2064
[email protected]
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C. Robert Coates and Management Insights, Inc. Provide Status Update to
Shareholders of Northfield Labs
Dallas/August 2, 2000/PRNewswire/ -- -- C. Robert Coates and Management
Insights, Inc. (MII) today confirmed that a meeting between MII and Northfield
Labs (NASDAQ: NFLD) has occurred. This meeting followed up the letter MII sent
to Northfield shareholders on June 19, 2000.
"I met with Mr. DeWoskin, Northfield Labs' CEO, and Mr. Gould, Northfield Labs'
President, on Monday, July 24, 2000", said Mr. Coates. "In response to Mr.
DeWoskin's request for clarification of the shareholder letter, I made the
following points:
o The consensus feedback from shareholders responding to our letter
strongly supports our contention that the company's "Wall of
Silence" approach to shareholder and media relations has greatly
increased the perceived level of risk in the company's ability to
achieve its milestones.
o Based on current market conditions and market capitalization
comparisons with same stage competitors such as Biopure
Corporation and Alliance Pharmaceutical, Northfield Labs shares
remain greatly undervalued.
o By communicating the company's notable achievements, product
status, and the known role the company's products have already
played in saving lives, Northfield Labs can achieve a market
capitalization comparable to its competitors.
o By maximizing shareholder value now, it will be possible for the
company to raise additional funds in the capital markets. This
will ensure the company's ability to implement marketing and
manufacturing activities in the future."
Mr. Coates also noted that, by mutual consent, "no information was discussed in
the meeting that is not available to other shareholders of Northfield Labs. We
will continue to evaluate our options moving forward."
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About Management Insights, Inc.
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Management Insights, Inc. (MII) is a diversified management consulting, venture
capital, and investment firm. Its customers include a number of Fortune 500
companies. Among its public investments are large equity stakes in Inprise
Corporation, Evolving Systems, and Northfield Labs. Through its ProxyCapital
Partners, Inc. subsidiary, MII serves as fund manager for ProxyCapital LP, a
value-oriented hedge fund.
