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Exhibit 99(a)(i)(I)
WIND POINT PARTNERS
676 North Michigan Avenue
Suite 3300
Chicago, IL 60611
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AT WIND POINT PARTNERS: AT BUSHNELL: AT THE FINANCIAL RELATIONS BOARD:
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Rebecca Vanderlake Joseph Messner Gillian O'Donoghue
Communications Manager Chief Executive Officer Media Contact
(312) 255-4805 (913) 752-6195 (312) 640-6689
[email protected] [email protected]
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BUSHNELL SPORTS OPTICS EXTENDS TENDER OFFER FOR COMMON STOCK
OF SERENGETI EYEWEAR, INC. UNTIL 11:00 AM NEW YORK
CITY TIME ON THURSDAY, AUGUST 17, 2000
CHICAGO, IL, AUGUST 11, 2000 - Bushnell Sports Optics, an operating name of
Worldwide Sports & Recreation, today announced that Sunshine Acquisition, Inc.,
a wholly-owned subsidiary, has extended its tender offer to acquire at $3.95 per
share in cash all of the outstanding shares of common stock of Serengeti
Eyewear, Inc. (OTC: SOLR) until 11:00 AM New York City time on Thursday, August
17, 2000. The tender offer had previously been scheduled to expire at 12:00
midnight New York City time on Wednesday, August 16, 2000. Bushnell Sports
Optics also announced today that the Merger Agreement by and among Worldwide
Sports & Recreation, Inc., Sunshine Acquisition, Inc. and Serengeti Eyewear,
Inc. had been amended to provide, among other things, that the financing
condition in the Merger Agreement will have to have been satisfied or waived at
or prior to the expiration of the offer.
Morrow & Co., Inc. (212-754-8000) is acting as the Information Agent for the
tender offer.
ABOUT BUSHNELL SPORTS OPTICS
Bushnell Sports Optics is a global manufacturer and marketer of branded
consumer products based in Overland Park, Kansas. Bushnell is a leading supplier
of high quality sports optics including binoculars, telescopes, riflescopes,
night vision, ski goggles, laser rangefinders, sunglasses and safety glasses
marketed under the Bushnell, Bolle, and Bausch & Lomb brand names. Bushnell
is a privately held company funded by Wind Point Partners, a private equity
investment firm.
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ABOUT SERENGETI EYEWEAR
Serengeti Eyewear designs, markets and distributes branded premium
sunglasses. Major premium brands include Serengeti Drivers, Serengeti Kinetix
and H2Optix. Serengeti's non-premium brands include Solar*X, Sensor-X, Grafix
and Mach 1. The Serengeti lens is recognized worldwide as a leading
high-performance lens and receives strong support from sunglass retailers and
distributors worldwide.
ABOUT WIND POINT PARTNERS
Wind Point Partners is a private equity investment firm with offices in
Chicago and Southfield, Michigan. Established in 1983, Wind Point has
successfully invested over $500 million in more than 70 privately held
companies. Wind Point focuses on partnering with world class executives to build
outstanding companies via acquisition and organic growth.
ON THE DATE HEREOF, SUNSHINE ACQUISITION, INC. WILL FILE A SCHEDULE TO/A
AMENDMENT NO. 1 TO SCHEDULE TO WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION.
SECURITY HOLDERS SHOULD READ THE SCHEDULE TO/A WHEN IT IS AVAILABLE BECAUSE IT
CONTAINS IMPORTANT INFORMATION. INVESTORS CAN GET THE SCHEDULE TO/A AND OTHER
FILED DOCUMENTS FOR FREE AT THE SECURITIES AND EXCHANGE COMMISSION'S WEBSITE AT
WWW.SEC.GOV.
Bausch & Lomb is a registered trademark of and used under license from Bausch &
Lomb, Inc.
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