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Technology Stocks : TSII - Precision Equip Mfg (85M MktCap) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Adams who wrote (8)	6/26/1999 10:21:00 PM
From: John Stichnoth	Respond to of 15

Catching up on some news: TSI makes acquisition--- Company Press Release SOURCE: TSI Incorporated TSI Acquires Environmental Systems Corporation SHOREVIEW, Minn., May 26 /PRNewswire/ -- TSI Incorporated (Nasdaq: TSII - news), Shoreview, Minn., announced today that it has successfully completed the due diligence process and has acquired the stock, assets and operations of Environmental Systems Corporation. ESC, located in Knoxville, Tenn., posted net sales of $23 million and net earnings of $1.9 million for the year ended December 31, 1998. TSI announced its intent to acquire ESC in an all-cash transaction on May 11. ESC will continue to operate at its present location as a wholly owned subsidiary of TSI, and the management team will remain intact, reporting to James Doubles, TSI's Chairman and CEO. Doubles said, ''I am extremely pleased that the acquisition of Environmental Systems Corporation, our largest to date, went so well and I welcome all ESC employees to the TSI family. I am also pleased that ESC's management team will remain and help TSI and ESC grow together. Both organizations have strong technology bases and successful track records. This combination allows us to leverage that technology in key areas. Most notably, we gain a much stronger presence in the outdoor environmental monitoring market which offers excellent potential for the future.'' This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include: uncertainties relating to competition and technological change, setbacks in product development programs, slower-than-anticipated customer acceptance of new products, delays or cancellation of government procurements, dependence on certain key industries, and risk associated with the company's acquisition strategy and international operations. TSI is a diversified, worldwide leader in providing measuring instruments for two major market areas: the safety, comfort and health of people; and productivity and quality improvement. The company's common stock is traded on the national over-the-counter market under the Nasdaq symbol TSII. For more information, visit the company's web site at tsi.com

To: Mark Adams who wrote (8)	6/26/1999 10:26:00 PM
From: John Stichnoth	Read Replies (1) \| Respond to of 15

And, an unfriendly overture-- TSI Rejects $12.50 Per Share Cash Sale Proposal From an Individual Investor as Inadequate SHOREVIEW, Minn., June 17 /PRNewswire/ -- The Board of Directors of TSI Incorporated (Nasdaq: TSII - news), Shoreview, Minn., announced today that it has unanimously rejected an unsolicited cash offer of $12.50 per share from John J. Fauth as inadequate and not in the best interests of shareholders. Fauth has filed a preliminary proxy with his own slate of three directors which he plans to present at TSI's upcoming annual meeting. He is also proposing several amendments to the Company's bylaws to make it easier for him to acquire TSI for less than fair value. The Company intends to aggressively fight the election of Fauth's director nominees and proposed bylaw amendments. James Doubles, TSI's Chairman and CEO, stated, ''TSI has an attractive growth history with a compound earnings growth rate of 19 percent over our 31-year history as a public company. While the last two years have been somewhat slower, over the last five years earnings have still grown at a compound rate of over 19 percent, consistent with our longer-term performance. In today's market, many micro-cap stocks are undervalued by historical standards and don't necessarily reflect their true value. We believe TSI fits into that category.'' Doubles commented further, ''We are excited about TSI's future. We recently acquired Environmental Systems Corporation which had $23 million in sales and $1.9 million in after-tax profits during calendar 1998. In addition, we consolidated two under performing divisions late in fiscal 1999, which are projected to be profitable in fiscal 2000. These factors, combined with exciting growth opportunities in our current businesses, give us great optimism. Further, our Board has engaged William Blair & Company as its investment banker to work with the Company to explore strategies to further enhance shareholder value.'' This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include: uncertainties relating to competition and technological change, setbacks in product development programs, slower-than-anticipated customer acceptance of new products, delays or cancellation of government procurements, dependence on certain key industries, and risk associated with the Company's acquisition strategy and international operations. TSI is a diversified, worldwide leader in providing measuring instruments for two major market areas: the safety, comfort and health of people; and productivity and quality improvement. The Company's common stock is traded on the national over-the-counter market under the Nasdaq symbol TSII. For more information, visit the Company's web site at tsi.com