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| | CHS Electronics Significantly Reduces Earn-Out Obligations; Transfers Interest in subsidiaries |
 | | The Company stated that if it successfully completes all seven transactions, on a pro forma basis as of June 30, 1999, working capital would increase by $155 million, goodwill would be reduced by $222 million and tangible net worth would increase by $165 million to $42 million. |
 | | Tangible net worth would include a net loss of $59 million expected to be recorded in the fourth quarter related to the seven transfers, reflecting a reversal of previously recognized earnings related to the portions transferred and a reserve for certain of the remaining investments. |
 | | Miami-based CHS Electronics, ranked number 189 on the latest Fortune 500 list of the largest U.S.-based industrial corporations, is a leading international distributor of microcomputers, peripherals, and software to approximately 150,000 resellers in 49 countries in Europe, Latin America, Asia, the Middle East and Africa. |
| www.prnewswire.com /cgi-bin/stories.pl?ACCT=105&STORY=/www/story/10-19-1999/0001047619 (460 words) |
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