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To: Eagle who wrote (16717)	12/26/2003 10:02:58 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 48463

ICY got bought out (went private actually) for $3.63 & I made $$... JMAR & ROYL doing well, natch... Packaged Ice Completes Going Private Transaction With Trimaran Capital Partners and Bear Stearns Merchant Banking. Packaged Ice, Inc., the surviving corporation, has been renamed "Reddy Ice Group, Inc." and is now a wholly-owned subsidiary of Reddy Ice Holdings, Inc. Entities controlled by Trimaran Capital Partners and Bear Stearns Merchant Banking, who are equal equity partners in the transaction, and an investor group including William P. Brick, the Company's Chairman and Chief Executive Officer, Jimmy C. Weaver, the Company's President and Chief Operating Officer and certain other members of the Company's management are the indirect owners of Reddy Ice Group's stock through their ownership of Reddy Ice Holdings, Inc. Commenting on the transaction, Mr. Brick stated, "We are delighted to be closing the transaction and that we were able to maximize return to our shareholders." Andrew Heyer, Managing Partner and Co-Founder of Trimaran said, "Reddy Ice is now well-financed and positioned for continued growth for years to come. We look forward to a long association with Bill Brick and his superb team of managers and employees." Doug Korn, Senior Managing Director of Bear Stearns Merchant Banking added, "We are pleased to be able to partner with management in a transaction which so clearly benefits the Company and all of its constituencies. We support management's efforts to build on the Company's tradition of leadership and in customer service, product quality, innovation and reliability." All shareholders of the Company's common stock, par value $0.01 per share (the "Common Stock") are entitled to receive approximately $3.638 per share of Common Stock. In addition, as of 9:00 a.m. New York City time today, the expiration date of the tender offer, approximately $230.4 million of the $255.0 million aggregated outstanding principal amount of the Notes were validly tendered and not withdrawn in response to the tender offer. The Company intends to redeem all Notes not tendered in the tender offer in accordance with the terms and conditions of the indenture governing the Notes, at a redemption price of $1,024.375 for each $1,000 principal amount of Notes, plus accrued interest to, but not including, August 20, 2003. Packaged Ice is the largest manufacturer and distributor of packaged ice in the United States. With over 1,700 employees, the Company sells its products primarily under the widely known Reddy Ice brand to more than 73,000 locations in 31 states and the District of Columbia. The Company provides a broad array of product offerings in the marketplace through traditional direct store delivery, warehouse programs, and its proprietary Ice Factory technology. Packaged Ice serves most significant consumer packaged goods channels of distribution, as well as restaurants, special entertainment events, commercial users and the agricultural sector.