|ARAMARK Announces Stock Sales by Certain Executives|
PHILADELPHIA--(BUSINESS WIRE)--June 12, 2003--ARAMARK (NYSE:RMK), a world leader in managed services, today announced that certain members of ARAMARK's executive management and one director sold an aggregate of approximately 2.4 million shares of ARAMARK in a Rule 144 trade. Each of these participants in the sale has individually indicated to ARAMARK that he does not intend to sell any further shares for the remainder of calendar 2003. After giving effect to these sales, approximately 86 million shares of the publicly traded Class B Common Stock of ARAMARK will be outstanding.
Joseph Neubauer, the chairman and CEO of ARAMARK, has indicated that he does not intend to sell any shares of ARAMARK common stock during the current window period. In the event that he decides to sell shares after the current window period, he will not sell more than 2.4 million shares of ARAMARK during the remainder of calendar 2003.
ARAMARK is a world leader in providing managed services -- including food, facility and other support services and uniform and career apparel. ARAMARK has leadership positions serving the business, education, healthcare, government and sports and recreation segments. In FORTUNE Magazine's 2003 survey of the "Most Admired Companies in America," ARAMARK ranks No. 1 in the outsourcing services category and is No. 10 among all companies included in the survey by overall score as evaluated by peers within the industry. Headquartered in Philadelphia, ARAMARK has approximately 200,000 employees serving clients in 18 countries.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements that reflect our current views as to future events and financial performance with respect to our operations. These statements can be identified by the fact that they do not relate strictly to historical or current facts.
They use words such as "aim," "anticipate," "estimate," "expect," "will be," "will continue," "will likely result," "project," "intend," "plan," "believe" and other words and terms of similar meaning in conjunction with a discussion of future operating or financial performance.
Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond our control) that could cause actual results to differ materially from the future results expressed or implied by such forward-looking statements.
The forward-looking statements regarding such matters are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.
Factors that might cause such a difference include: unfavorable economic conditions, including ramifications of any future terrorist attacks; increased operating costs; shortages of qualified personnel; currency risks and other risks associated with international markets; risks associated with acquisitions, including acquisition integration costs; our ability to integrate and derive the expected benefits from our recent acquisitions, including our acquisition of ServiceMaster Management Services; competition; decline in attendance at client facilities; unpredictability of sales and expenses due to contract terms and terminations; high leverage; claims relating to the provision of food services; costs of compliance with governmental regulations; liability associated with non-compliance with governmental regulations, including regulations pertaining to food services and the environment; and seasonality.
For further information regarding risks and uncertainties associated with ARAMARK's business, please refer to the "Management's Discussion and Analysis of Results of Operations and Financial Condition" and "Risk Factors" sections of ARAMARK's SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting ARAMARK's investor relations department at www.aramark.com.
Forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they are made. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, us.