COLUMBUS, Ohio--(BUSINESS WIRE)--July 1, 2004--Worthington
Industries, Inc. (NYSE:WOR), announced today that Founder and Chairman
Emeritus, John H. McConnell, 81, has approved a plan to sell up to 1.5
million common shares of Worthington Industries held by his family's
corporation, JDEL, Inc. The sale will be conducted over an extended
period, up to one year, and will increase JDEL's diversification and
liquidity, benefiting estate planning. Mr. McConnell will remain
Worthington Industries' largest shareholder, retaining beneficial
ownership of more than 13.5 million common shares, approximately 15.5%
of Worthington Industries' common shares outstanding.
Worthington Industries is a leading diversified metal processing
company with annual sales of more than $2 billion. The Columbus, Ohio,
based company is North America's premier value-added steel processor
and a leader in manufactured metal products such as automotive
aftermarket stampings, pressure cylinders, metal framing, metal
ceiling grid systems and laser welded blanks. The company employs
8,000 people and operates 61 facilities in 10 countries.
Safe Harbor Statement
The company wishes to take advantage of the Safe Harbor provisions
included in the Private Securities Litigation Reform Act of 1995 ("the
Act"). Statements by the company, which are not historical information
constitute "forward looking statements" within the meaning of the Act.
All forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ from those projected.
Factors that could cause actual results to differ materially include
risks described from time to time in the company's filings with the
Securities and Exchange Commission.
CONTACT: Worthington Industries, Inc.
Corporate Communications:
Cathy Mayne Lyttle, 614-438-3077
cmlyttle@WorthingtonIndustries.com
or
Investor Relations:
Allison McFerren Sanders, 614-840-3133
asanders@WorthingtonIndustries.com
SOURCE: Worthington Industries, Inc.