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NEW YORK, Dec. 16 /PRNewswire-FirstCall/ -- Pursuant to a previously
announced redemption agreement entered into on June 13, 2005, Weight Watchers
International, Inc. (NYSE: WTW) announced that WeightWatchers.com, Inc. today
redeemed all of the equity interests in WeightWatchers.com owned by Artal
Luxembourg S.A. for the aggregate cash consideration of approximately $304.8
million. As a result of the redemption, WeightWatchers.com has become a
wholly-owned subsidiary of Weight Watchers International. The redemption
transaction was financed by WeightWatchers.com through cash on hand and
borrowings under two credit facilities consisting of a five year, senior
secured first lien term loan facility in the aggregate principal amount of
$170 million, and a five and one-half year, senior secured second lien term
loan facility in the aggregate principal amount of $45 million. The credit
facilities are not guaranteed by Weight Watchers International.
About Weight Watchers International, Inc.
Weight Watchers International, Inc. is the worlds leading provider of
weight loss services, operating in 30 countries through a network of
company-owned and franchise operations. Weight Watchers holds over 46,000
weekly meetings where members receive group support and education about
healthy eating patterns, behavior modification and physical activity.
WeightWatchers.com provides innovative, subscription weight management
products over the Internet and is the leading Internet-based weight management
provider in the world. In addition, Weight Watchers offers a wide range of
products, publications and programs for those interested in weight loss and
weight control.
This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on managements current expectations and
beliefs, as well as a number of assumptions concerning future events. These
statements are subject to risks, uncertainties, assumptions and other
important factors. Readers are cautioned not to put undue reliance on such
forward-looking statements because actual results may vary materially from
those expressed or implied. The reports filed by the company pursuant to
United States securities laws contain discussions of these risks and
uncertainties. Weight Watchers International assumes no obligation to, and
expressly disclaims any obligation to, update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. Readers are advised to review our filings with the United States
Securities and Exchange Commission (which are available from the SECs EDGAR
database at http://www.sec.gov, at various SEC reference facilities in the
United States and via the companys website at
http://www.weightwatchersinternational.com).
Contact Information:
Weight Watchers International, Inc. Brainerd Communicators, Inc.
John Sweeney, CFA Corey Kinger
Director of Investor Relations (212) 986-6667
(212) 589-2714
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