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Hercules Incorporated
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ISS RECOMMENDS VOTE FOR
HERCULES SLATE OF DIRECTORS
Wilmington, DE, May 9, 2001 . . . Hercules Incorporated (NYSE: HPC) announced
today that Institutional Shareholder Services (ISS) recommended that Hercules
shareholders vote for the company's slate of director nominees at Hercules
Annual Meeting scheduled to be held on May 24, 2001.
ISS, recognized as the preeminent independent proxy advisory firm, noted in its
report that " . . . the decision comes down to who is more vital to completing
the sale process that is underway, and who is more vital in the transition to
the new CEO. We believe it is the management slate. There is no argument of
Hercules' past failings. But Mr. Gossage, in conjunction with the board, has
attempted to redress them and move the company forward on a sounder path. We
believe Mr. Joyce has both the command and the backing of the board to continue
this process in an expeditious manner."
The ISS recommendation concludes, "We therefore advocate reelecting management's
nominees."
Hercules Chairman Thomas L. Gossage said, "ISS demonstrated professionalism and
thoroughness in their review process. We are very pleased that ISS supports the
reelection of our current directors. We believe our board's efforts to maximize
shareholder value would be badly damaged if ISP's dissident nominees were to be
elected."
(continued)
2
Hercules continues to urge all shareholders to vote for the four company
director nominees by using the WHITE proxy card. Shareholders should fill in and
mail the WHITE proxy card as soon as possible so that it can be received by May
24, to make certain their vote is counted in the proxy contest. For more
information, shareholders are invited to call MacKenzie Partners, Inc. toll-free
at 800-322-2885 or Hercules shareholder services toll-free at 800-441-9274.
# # #
Hercules manufactures and markets chemical specialties globally for making a
variety of products for home, office and industrial markets. For more
information, visit the Hercules website at www.herc.com.
This news release includes forward-looking statements, as defined in the Private
Securities Litigation Reform Act of 1995, reflecting management's current
analysis and expectations, based on reasonable assumptions. Results could differ
materially depending on such factors as business climate, economic and
competitive uncertainties, failure to complete transactions, adverse legal and
regulatory developments, and adverse changes in economic and political climates
around the world. As appropriate, additional factors are contained in reports
filed with the Securities and Exchange Commission. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of
the date of this press release. This paragraph is included to provide safe
harbor for forward-looking statements, which are not required to be publicly
revised as circumstances change.
Investor Contact: Allen A. Spizzo (302) 594-6491
Media Contact: John S. Riley (302) 594-6025