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James C. Foster, Chairman & CEO of Charles River, commented: "This stock distribution is consistent with the significant growth and progress of Charles River over the past two years. DLJMB's distribution of largely unrestricted shares to their private equity investors should broaden our investor base, further increase the "float" in our stock, and significantly reduce the "overhang" resulting from DLJMB's substantial restricted position in the Company. The diverse group of investors who will receive shares in this distribution includes, among others, pension funds and large institutional investors. To be clear, this is not a new issuance of shares, but rather a transfer of existing shares of our common stock among investors. As a result, there is no increase in our shares outstanding, no registration of new securities with the SEC, and no EPS impact."
Charles River Laboratories, based in Wilmington, Massachusetts, is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. The Company is the global leader in providing the animal research models required in research and development for new drugs, devices and therapies. The Company also offers a broad and growing portfolio of biomedical products and services that enable customers to reduce cost, increase speed, and enhance productivity and effectiveness in drug discovery and development. Charles River's customer base spans over 50 countries, and includes all of the major pharmaceutical and biotechnology companies, as well as many leading hospitals and academic institutions. The Company operates 76 facilities in 15 countries worldwide.
CONTACT: Charles River Laboratories International, Inc. Investor Relations: Dennis R. Shaughnessy Marcia Gookin 978/658-6000, ext. 1329 978/988-5665 (fax) firstname.lastname@example.org Media Relations: Christopher DiFrancesco 978/658-6000, ext. 1508 978/694-9504 email@example.com