SOUTH PLAINFIELD, N.J.--(BUSINESS WIRE
)--Nov. 14, 2003--Odd Job Stores, Inc. (OTCBB:ODDJ) (the "Company") today announced that it completed its acquisition of substantially all of the retail closeout business and operations of Amazing Savings Holding LLC ("Amazing Savings"), which operated an upscale closeout retail business of fourteen (14) locations. Prior to the transaction, Amazing Savings beneficially owned 8,184,804 shares of the Company's common stock or approximately 90.3% of the outstanding shares that were acquired pursuant to a tender offer in July 2003. As a result of the new transaction, Amazing Savings increased its beneficial ownership by 1,866,667 shares, so that it now owns 10,051,471 shares or 92.0% of the Company's outstanding shares. The transaction was approved by both the Company's Board of Directors and a special committee of the Board formed for the purpose of reviewing the transactions. In addition, the special committee and the Board received an opinion of Ryan Beck & Co. to the effect that the transaction was fair from a financial point of view to the Company and its shareholders (other than Amazing Savings and its affiliates).
About the Company. The Company is a major closeout retailer operating stores in New York, New Jersey, Pennsylvania, Connecticut, Delaware, Ohio, Kentucky and Michigan under the names of Odd Job, Odd Job Trading and Mazel's. Company information is available on the Internet at www.oddjobstores.com.
SAFE HARBOR STATEMENTS UNDER THE U.S. PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. This release may contain forward-looking statements including, but not limited to, projections of future performance and regulatory approvals, subject to risks and uncertainties. These statements are subject to change based on known risks detailed from time to time in the Company's Securities and Exchange Commission filings and other known and unknown risks and various other factors, which could cause the actual results or performance to differ materially from the statements made herein. Such statements include without limitation the effect of the merger and asset purchase on the Company.