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To: SSP who wrote (7900)8/24/1999 8:00:00 AM
From: Link Lady  Respond to of 150070
 
freeedgar.com

newsalert.com

L TEXT-Yogen Fruz on Eskimo Pie bid

(Full text of press release from BCE Emergis E-News)

YOGEN FRUZ WILL NOT SUPPORT ANNOUNCED OFFER TO BUY ESKIMO PIE
CORPORATION

Yogen Fruz World-Wide Incorporated (TSE:YF.A), the largest shareholder of
Eskimo Pie Corporation (NASDAQ NNM: EPIE) "Eskimo"), announced today
that it will not support the offer from an undisclosed private investor group
to buy all of Eskimo's stock for $10.125 per share announced earlier today.

"We believe the announced offer understates the asset value of Eskimo by at
least one third, and thus would not return full value to Eskimo's shareholders"
said Michael Serruya, Co-President and Co-CEO of Yogen Fruz.

Eskimo's announcement of the offer did not disclose the identities of the
offerors, but did state that the offer was subject to satisfactory completion
of due diligence, obtaining of necessary financing, negotiation and execution
of a definitive agreement and consent of Eskimo's licensors to the continuation
of their licenses. Accordingly, Yogen Fruz believes it is unlikely any such
sale would close.

"This proposal clearly would be a better deal for Eskimo's current management
than for the shareholders," Serruya said. "They would hold onto their jobs,
while shareholders would take a one-third discount off the full value of their
shares." Eskimo's announcement disclosed that David B. Kewer, Eskimo's
President and CEO, has been invited to join the unnamed group of offerors.

As of August 31, 1998, Yogen Fruz had approximately 4,900 locations, through
company owned, franchised and non-traditional partnership locations in 80
countries. The Company operates a Family of Brands including Yogen Fruz, I
Can't Believe It's Yogurt, Bresler's Ice Cream and Premium Frozen Yogurt,
Swensen's Ice Cream, Steve's Ice Cream, Golden Swirl, Honey Hill Farms,
Paradise, Ice Cream Churn and Java Coast Fine Coffees. The Company also
directly, and through its subsidiary Integrated Brands, markets, sells and
distributes Tropicana frozen fruit juice bars and frozen dessert products, as
well as a variety of frozen novelties and frozen dessert products under the
Betty Crocker, Trix, Yoplait, Colombo, Lucky Charms and Yoo Hoo brand
names, pursuant to long-term license agreements.

- 30 -

For further information, contact:

Michael Serruya/Richard E. Smith W. Daniel Mothersill
Co-Chairman, Co-President and Co-CEO Managing Partner
Yogen Frz World-Wide Incorporated Ciris International Inc.
Tel: 905-479-8762/516-737-9700 Tel: 416-368-8770
Fax: 905-479-5235/516-737-9792 Fax: 416-368-5122

For related news, double click on one of the following codes:
[ISD] [CA] [LEN]
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For related price quotes, double click on one of the following codes:

Monday, 23 August 1999 16:35:43
ISD [nISD5788]



To: SSP who wrote (7900)8/24/1999 9:39:00 AM
From: SSP  Read Replies (2) | Respond to of 150070
 
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BOYI .20000 +.02000 +11.11 2000 BOYLE INTERNATIONAL
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CAT.LAN .92 +.02 +2.22 43562 PLAINTREE SYSTEMS
CHES .12000 +.00100 +.84 42300 CHESTER HLDGS
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