ALL,
The following message was posted on the Yahoo thread:
Education and Free Lunch LongTsengFan
(62/M/other) Oct 16 1998 11:02PM EDT
As an alternative to posting speculation, opinions, and complaints to this board those of you who own Tseng stock might take advantage of the following invitation which was issued to all Tseng stockholders:
October 15, 1998
Dear Tseng Labs Inc. stockholder:
You are cordially invited to attend a 30 minute luncheon presentation by the Cell Pathways, Inc.
management team with respect to the Cell Pathways/Tseng transaction and the business of Cell Pathways
at the following locations:
SanFrancisco Wednesday, 10/21 12:30pm
Salomon Smith Barney, 39th fl. 555 California St.
Call: Helen Kim 415-955-1605
Chicago Friday, 10/23 12:15pm
Salomon Smith Barney, 87th fl
Sears Tower
Call: Kathy Boyer 312-419-3627
New York City Tuesday 10/27 12:00pm
The Omni Berkshire Hotel
Carnegie Room, 21 East 52nd St
Call: Stacy Alosa 212-723-7297
Philadelphia Thursday 10/29 12:00pm
The Pyramid Club, 52nd fl.
Mellon Bank Center, 1735 Market St.
Call: Bill Freeman 215-854-6034
You should have already received proxy materials with respect to the November 3 special meeting of
stockholders of Tseng Labs, Inc. to consider the proposed transaction with Cell Pathways. Additional
proxy materials/prospectuses will be available at these presentations. Representatives from Salomon Smith
Barney, BancBoston, Robertson Stephens, and Cell Pathways will be available to answer any questions.
Please call the appropriate person listed above to reserve space.
As described in the proxy materials previously sent to you, Cell Pathways is a pharmaceutical company
focused on the development and commercialization of products to prevent and treat cancer. The proposed
transaction is intended to provide substantial funding for the programs of Cell Pathways. In the transaction
the new Cell Pathways will issue its common stock to the stockholders of Tseng Labs and Cell Pathways
in exchange for all of the stock they now own in their respective companies, with the exchange ratio as
specified in the Reorganization Agreement. Stockholder meetings to approve the transaction will be held
on November 2 (Cell Pathways) and November 3 (Tseng). The common stock of the new Cell Pathways
is expected to commence trading on the NASDAQ National Market following approval of the transaction
at such stockholders meetings.
We look forward to your attendance at any of the presentations listed above.
Sincerely,
Robert J. Towarnicki
Chief Executive Officer
Cell Pathways, Inc.
John J. Gibbons
Chairman of the Board of Directors
Tseng Labs, Inc.
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