Manpower Inc. (NYSE: MAN) today announced that, in the event that its Zero Coupon Convertible Debentures due August 17, 2021 are tendered for purchase, the company has formally elected to settle the transactions with cash.
Under the Indenture relating to the Debentures, each holder of the Debentures may elect to have Manpower purchase all or a portion of the Debentures as of August 19, 2002, at a purchase price of $567.92 per $1,000 of principal amount at maturity of Debentures properly tendered for purchase no later than 5:00 PM Eastern time on August 16, 2002.
As required by the Indenture, the CUSIP number of the Rule 144 Debentures is 56418H AB 6 and of the registered Debentures is 56418H AC 4. The address of the trustee and paying agent is Citibank, N.A., 111 Wall Street, 15th Floor, New York, New York 10005. Manpower has provided Citibank, N.A. with a detailed notice and form of purchase notice that holders may use to tender their Debentures.
Manpower Inc. is a world leader in the staffing industry, providing workforce management services and solutions to customers through 3,900 offices in 61 countries. The firm annually provides employment to 2 million people worldwide and is an industry leader in employee assessment and training. Manpower also provides a range of staffing solutions and engagement and consulting services worldwide under the subsidiary brands of Brook Street, Elan, The Empower Group and Jefferson Wells. More information on Manpower Inc. can be found at the Company's Web site, http://www.manpower.com/ , which includes a comprehensive Investor Relations section.
SOURCE: Manpower Inc.
CONTACT: Mike Van Handel, Chief Financial Officer of Manpower Inc.,
Web site: http://www.manpower.com/