WESTLAKE VILLAGE, Calif., Sept. 24, 2003 (PRIMEZONE) -- United Online, Inc. (Nasdaq:UNTD), a leading provider of value-priced Internet services, today announced that its Board of Directors has declared a 3-for-2 split of the company's common stock, which will be in the form of a stock dividend.
Shareholders on the record date of October 14, 2003 will be entitled to one additional share for every two shares they own on that date. The Company expects that new shares will be issued on October 31, 2003 and that its shares will begin to trade on NASDAQ on a post-split basis on November 3, 2003. As of September 22, 2003, the Company had approximately 43.4 million shares outstanding.
"Our decision to declare this stock split reflects our confidence in the company's continued success and makes United Online's stock more attractive to a larger pool of investors by offering increased liquidity," said Mark R. Goldston, chairman, CEO and president of United Online.
About United Online
United Online, Inc. (Nasdaq:UNTD) is a leading provider of value-priced Internet services through its NetZero, Juno and BlueLight Internet consumer brands. The company's standard services are offered at less than half the standard monthly prices of its major competitors and are available in more than 6,500 cities across the United States and in Canada. The company is headquartered in Westlake Village, CA, with offices in New York City, San Francisco and Hyderabad, India. For more information about United Online and its Internet access services, please visit www.untd.com.
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the timing of the distribution of shares and when the additional shares will begin trading on NASDAQ. These statements are based on the company's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The potential risks and uncertainties include, among others, that the dates stated in the press release are delayed. More information about potential factors that could affect the company's business and financial results is included in the company's Form 10-Q and other filings with the Securities and Exchange Commission (http://www.sec.gov) including (without limitation) information under the captions "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors."