Anthony & Sylvan Pools Corporation Announces Stock Repurchase Plan

Apr 03, 2001, 01:00 ET from Anthony & Sylvan Pools Corporation

    MAYFIELD VILLAGE, Ohio, April 3 /PRNewswire/ -- Anthony & Sylvan Pools
 Corporation (Nasdaq: SWIM) today announced that its Board of Directors has
 authorized the repurchase of up to one million shares of the common stock
 outstanding.  Purchase of common shares would be made from time to time,
 either through open market purchases or in private transactions.
     Commenting on the announcement, Stuart D. Neidus, Anthony & Sylvan's
 Chairman and Chief Executive Officer, stated, "Our Board feels that the
 intrinsic value of Anthony & Sylvan is not reflected in the current stock
 price.  Consequently, we believe this purchase is a good use of Company funds
 and will provide us with stock for employee incentive plans and strategic
 acquisitions without diluting the holdings of current shareholders. None of
 our key employees and directors, who as a group beneficially own approximately
 50% of the outstanding shares of the Company on a diluted basis, are planning
 to sell any of their stock holdings.  We have a motivated and committed
 leadership team whose interests are clearly aligned with the interests of our
 shareholders."
     Anthony & Sylvan ( www.anthonysylvan.com ) operates in the leisure
 industry, offering in-ground, concrete residential swimming pools, spas and
 related products.  The Company serves its customers through a network of 51
 sales design centers in 29 geographic markets in 16 states.  It also sells
 pool-related consumables, replacement parts, equipment and supplies through
 retail service centers.
     This press release contains statements that are forward-looking, as that
 term is defined by the Private Securities Litigation Reform Act of 1995 or by
 the Securities and Exchange Commission in its rules, regulations, and
 releases.  The Company intends that such forward-looking statements be subject
 to the safe harbors created thereby.  All forward-looking statements are based
 on current expectations regarding important risk factors, including but not
 limited to:  dependence on existing management; consumer spending; market
 conditions and weather.  Accordingly, actual results may differ from those
 expressed in the forward-looking statements, and the making of such statements
 should not be regarded as a representation by the Company or any other person
 that results expressed therein will be achieved.
 
 

SOURCE Anthony & Sylvan Pools Corporation
    MAYFIELD VILLAGE, Ohio, April 3 /PRNewswire/ -- Anthony & Sylvan Pools
 Corporation (Nasdaq: SWIM) today announced that its Board of Directors has
 authorized the repurchase of up to one million shares of the common stock
 outstanding.  Purchase of common shares would be made from time to time,
 either through open market purchases or in private transactions.
     Commenting on the announcement, Stuart D. Neidus, Anthony & Sylvan's
 Chairman and Chief Executive Officer, stated, "Our Board feels that the
 intrinsic value of Anthony & Sylvan is not reflected in the current stock
 price.  Consequently, we believe this purchase is a good use of Company funds
 and will provide us with stock for employee incentive plans and strategic
 acquisitions without diluting the holdings of current shareholders. None of
 our key employees and directors, who as a group beneficially own approximately
 50% of the outstanding shares of the Company on a diluted basis, are planning
 to sell any of their stock holdings.  We have a motivated and committed
 leadership team whose interests are clearly aligned with the interests of our
 shareholders."
     Anthony & Sylvan ( www.anthonysylvan.com ) operates in the leisure
 industry, offering in-ground, concrete residential swimming pools, spas and
 related products.  The Company serves its customers through a network of 51
 sales design centers in 29 geographic markets in 16 states.  It also sells
 pool-related consumables, replacement parts, equipment and supplies through
 retail service centers.
     This press release contains statements that are forward-looking, as that
 term is defined by the Private Securities Litigation Reform Act of 1995 or by
 the Securities and Exchange Commission in its rules, regulations, and
 releases.  The Company intends that such forward-looking statements be subject
 to the safe harbors created thereby.  All forward-looking statements are based
 on current expectations regarding important risk factors, including but not
 limited to:  dependence on existing management; consumer spending; market
 conditions and weather.  Accordingly, actual results may differ from those
 expressed in the forward-looking statements, and the making of such statements
 should not be regarded as a representation by the Company or any other person
 that results expressed therein will be achieved.
 
 SOURCE  Anthony & Sylvan Pools Corporation