TSP Says ICO Chairman Conceded Proxy Contest

Apr 27, 2001, 01:00 ET from Travis Street Partners, LLC

    HOUSTON, April 27 /PRNewswire/ -- The following was released today by
 Travis Street Partners, LLC:
 
     At the annual shareholders' meeting of ICO, Inc. (Nasdaq:   ICOC), Dr. Asher
 "Al" O. Pacholder conceded that the slate of directors nominated by dissident
 investor group Travis Street Partners, LLC ("TSP") appeared to have won three
 board seats, defeating the director slate nominated by ICO management.
     "Although the vote won't be certified by the independent inspector until
 next Wednesday, we're gratified that Dr. Pacholder has conceded that our slate
 was elected," said Chris O'Sullivan, a TSP manager.  "We believe that the
 final results will show that we had a substantial margin of victory."  TSP
 said that preliminary results indicated that the TSP slate outpolled the
 management slate by more than three to one, excluding votes controlled by ICO
 management and TSP itself.
     "Shareholders are profoundly disappointed with management, and they have
 given us a mandate for change," O'Sullivan said.  "During the proxy contest,
 we promised shareholders that we will open an inquiry into ICO's governance
 and compensation issues, and, assuming ICO cooperates with our requests, we
 intend to report publicly no later than June 15 with our preliminary
 findings."  O'Sullivan said that his group has already been in touch with ICO
 management to request the documents necessary to commence the process of
 analysis.  O'Sullivan also said that TSP's director nominees are asking for
 the information they need to fulfill their new responsibilities.
     TSP continues to press ICO to agree to its $2.65 all-cash acquisition
 proposal.  "Even though we want to buy the company," O'Sullivan said, "we're
 doing our best to follow through on the commitments we made to shareholders
 during the proxy contest."  Prior to the annual meeting, ICO announced it
 would meet with TSP to explore the TSP proposal.  While both parties continue
 to discuss the proposal, O'Sullivan said, no formal announcement can yet be
 made.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X57086995
 
 

SOURCE Travis Street Partners, LLC
    HOUSTON, April 27 /PRNewswire/ -- The following was released today by
 Travis Street Partners, LLC:
 
     At the annual shareholders' meeting of ICO, Inc. (Nasdaq:   ICOC), Dr. Asher
 "Al" O. Pacholder conceded that the slate of directors nominated by dissident
 investor group Travis Street Partners, LLC ("TSP") appeared to have won three
 board seats, defeating the director slate nominated by ICO management.
     "Although the vote won't be certified by the independent inspector until
 next Wednesday, we're gratified that Dr. Pacholder has conceded that our slate
 was elected," said Chris O'Sullivan, a TSP manager.  "We believe that the
 final results will show that we had a substantial margin of victory."  TSP
 said that preliminary results indicated that the TSP slate outpolled the
 management slate by more than three to one, excluding votes controlled by ICO
 management and TSP itself.
     "Shareholders are profoundly disappointed with management, and they have
 given us a mandate for change," O'Sullivan said.  "During the proxy contest,
 we promised shareholders that we will open an inquiry into ICO's governance
 and compensation issues, and, assuming ICO cooperates with our requests, we
 intend to report publicly no later than June 15 with our preliminary
 findings."  O'Sullivan said that his group has already been in touch with ICO
 management to request the documents necessary to commence the process of
 analysis.  O'Sullivan also said that TSP's director nominees are asking for
 the information they need to fulfill their new responsibilities.
     TSP continues to press ICO to agree to its $2.65 all-cash acquisition
 proposal.  "Even though we want to buy the company," O'Sullivan said, "we're
 doing our best to follow through on the commitments we made to shareholders
 during the proxy contest."  Prior to the annual meeting, ICO announced it
 would meet with TSP to explore the TSP proposal.  While both parties continue
 to discuss the proposal, O'Sullivan said, no formal announcement can yet be
 made.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X57086995
 
 SOURCE  Travis Street Partners, LLC