Herbalife Buyout Period Extended

Herbalife Buyout Period Extended

LOS ANGELES--The offer tendered by MH Millennium Acquisition Corp. to buyHerbalife International Inc. was extended to March 10 at 5:00 p.m. On Sept. 13,1999, Herbalife's board of directors accepted a definitive offer from MarkHughes, founder, chairman and chief executive officer of Herbalife, and ownerand controller of MH Millennium Acquisition Corp., to purchase all companyshares he did not already own for $17 per share in cash.

The September buyout was challenged by several of Herbalife's directors andexecutive officers. They were named as defendants in several punative classaction lawsuits brought against the plaintiffs as a result of the proposedtransactions. A final court order in February dismissed the lawsuits withprejudice and released the claims asserted by the plaintiffs.