Quipp, Inc. Announces Commencement of Tender Offer

Apr 25, 2001, 01:00 ET from Quipp, Inc.

    MIAMI, April 25 /PRNewswire Interactive News Release/ -- Quipp, Inc.
 (Nasdaq: QUIP) announced today that it is commencing its previously announced
 modified "Dutch Auction" tender offer for 550,000 shares of its common stock
 at a price per share of $20 - $23.
     Under the tender offer, shareholders will have the opportunity to tender
 some or all of their shares at a price within the $20 to $23 price range.
 Based on the number of shares tendered and the prices specified by the
 tendering shareholders, Quipp will determine the lowest per share price within
 the range that will enable it to buy 550,000 shares, or such lesser number of
 shares that are properly tendered.  If holders of more than 550,000 shares
 properly tender their shares at or below the determined price per share, Quipp
 will purchase shares tendered by the holders, at the determined price per
 share, on a pro rata basis.  Shareholders whose shares are purchased in the
 offer will be paid the determined purchase price net in cash, without
 interest, after the expiration of the offer period.  The offer is not
 contingent upon any minimum number of shares being tendered.  The offer is
 subject to a number of other terms and conditions specified in the offer to
 purchase that is being distributed to shareholders.
     The offer will expire at 5:00 p.m., New York City time, on Wednesday,
 May 23, 2001, unless extended by Quipp.
     The dealer manager for the offer is Lazard Freres & Co. LLC.  The
 information agent is D. F. King & Co., Inc.  None of Quipp, its board of
 directors, the dealer manager or the information agent is making any
 recommendation to shareholders as to whether to tender or refrain from
 tendering their shares in the tender offer.  Shareholders must decide how many
 shares they will tender, if any, and the price within the stated range at
 which they will offer their shares for purchase by Quipp.
     This press release is for informational purposes only and is not an offer
 to buy or the solicitation of an offer to sell any shares of Quipp common
 stock.  The offer is being made solely by the offer to purchase and the
 related letter of transmittal.  Investors are urged to read Quipp's tender
 offer statement on Schedule TO filed with the SEC in connection with the
 tender offer, which includes, as exhibits, the offer to purchase and the
 related letter of transmittal, as well as any amendments or supplements to the
 statement when they become available, because they contain important
 information.  Each of these documents has been or will be filed with the SEC,
 and investors may obtain them for free from the SEC at the SEC's website
 (www.sec.gov) or from D.F. King & Co., Inc., the information agent for the
 tender offer, by directing such request to: D.F. King & Co., Inc., 77 Water
 Street, New York, New York, 10005, telephone (800) 848-3416.
     Quipp, Inc., through its subsidiary, Quipp Systems, Inc., designs,
 manufactures and installs material handling equipment to facilitate the
 automated bundling and movement of newspapers from the printing press to the
 delivery truck.
 
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SOURCE Quipp, Inc.
    MIAMI, April 25 /PRNewswire Interactive News Release/ -- Quipp, Inc.
 (Nasdaq: QUIP) announced today that it is commencing its previously announced
 modified "Dutch Auction" tender offer for 550,000 shares of its common stock
 at a price per share of $20 - $23.
     Under the tender offer, shareholders will have the opportunity to tender
 some or all of their shares at a price within the $20 to $23 price range.
 Based on the number of shares tendered and the prices specified by the
 tendering shareholders, Quipp will determine the lowest per share price within
 the range that will enable it to buy 550,000 shares, or such lesser number of
 shares that are properly tendered.  If holders of more than 550,000 shares
 properly tender their shares at or below the determined price per share, Quipp
 will purchase shares tendered by the holders, at the determined price per
 share, on a pro rata basis.  Shareholders whose shares are purchased in the
 offer will be paid the determined purchase price net in cash, without
 interest, after the expiration of the offer period.  The offer is not
 contingent upon any minimum number of shares being tendered.  The offer is
 subject to a number of other terms and conditions specified in the offer to
 purchase that is being distributed to shareholders.
     The offer will expire at 5:00 p.m., New York City time, on Wednesday,
 May 23, 2001, unless extended by Quipp.
     The dealer manager for the offer is Lazard Freres & Co. LLC.  The
 information agent is D. F. King & Co., Inc.  None of Quipp, its board of
 directors, the dealer manager or the information agent is making any
 recommendation to shareholders as to whether to tender or refrain from
 tendering their shares in the tender offer.  Shareholders must decide how many
 shares they will tender, if any, and the price within the stated range at
 which they will offer their shares for purchase by Quipp.
     This press release is for informational purposes only and is not an offer
 to buy or the solicitation of an offer to sell any shares of Quipp common
 stock.  The offer is being made solely by the offer to purchase and the
 related letter of transmittal.  Investors are urged to read Quipp's tender
 offer statement on Schedule TO filed with the SEC in connection with the
 tender offer, which includes, as exhibits, the offer to purchase and the
 related letter of transmittal, as well as any amendments or supplements to the
 statement when they become available, because they contain important
 information.  Each of these documents has been or will be filed with the SEC,
 and investors may obtain them for free from the SEC at the SEC's website
 (www.sec.gov) or from D.F. King & Co., Inc., the information agent for the
 tender offer, by directing such request to: D.F. King & Co., Inc., 77 Water
 Street, New York, New York, 10005, telephone (800) 848-3416.
     Quipp, Inc., through its subsidiary, Quipp Systems, Inc., designs,
 manufactures and installs material handling equipment to facilitate the
 automated bundling and movement of newspapers from the printing press to the
 delivery truck.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X33151722
 
 SOURCE  Quipp, Inc.