WASHINGTON, Feb 27, 2002 (BUSINESS WIRE) -- The Corporate Executive Board
Company ("CEB") (Nasdaq: EXBD) today announced the sale of 2 million shares of
its common stock, all from selling shareholders, in a public offering
underwritten by Deutsche Banc Alex. Brown. Certain selling shareholders have
also granted the underwriter an over-allotment option to purchase an additional
100,000 shares. Regardless of whether or not this option is exercised, the
Company believes that this sale represents substantially all the stock to be
sold by CEB employees in 2002.
The Company's three senior executives, Jay McGonigle, Chief Executive Officer,
Derek van Bever, Chief Research Officer, and Clay Whitson, Chief Financial
Officer, collectively sold 530,000 shares and do not plan to sell any additional
shares in 2002.
The Corporate Executive Board Company is a leading provider of best practices
research and analysis focusing on corporate strategy, operations and general
management issues. CEB provides its integrated set of services currently to more
than 1,700 of the world's largest and most prestigious corporations, including
over 70% of the Fortune 500. These services are provided primarily on an annual
subscription basis and include best practices research studies, executive
education seminars, customized research briefs and web-based access to a library
of over 180,000 corporate best practices.
This news release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. You are hereby cautioned that
these statements may be affected by the important factors, among others, set
forth below and in CEB's filings with the Securities and Exchange Commission,
and consequently, actual operations and results may differ materially from the
results discussed in the forward-looking statements. Factors that could cause
actual results to differ materially from those indicated by forward-looking
statements include, among others, the dependence on renewal of membership based
services, dependence on key personnel, the need to attract and retain qualified
personnel, management of growth, new product development, introduction and
acceptance, competition, risks associated with anticipating market trends,
industry consolidation, variability of quarterly operating results, various
factors that could affect the estimated tax rate and possible volatility of the
stock price. These factors are discussed more fully in the annual report on Form
10-K that the Company filed with the Securities and Exchange Commission on
February 21, 2002. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information, future
events, or otherwise.
CONTACT: Corporate Executive Board
Clay Whitson, 202/777-5455
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