Electronics Boutique (NASDAQ:ELBO)
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GameStop Corp. (NYSE:GME)(NYSE:GME.B) and Electronics
Boutique Holdings Corp. (Nasdaq:ELBO) announced today that
stockholders, at separate stockholders' meetings of both companies,
approved the business combination between GameStop and Electronics
Boutique.
The companies expect the business combination to close on October
8, 2005 and trading of Class A and Class B common stock of GSC
Holdings Corp. (to be renamed GameStop Corp.) to begin on October 10,
2005 on the New York Stock Exchange under the symbols "GME" and
"GME.B", respectively.
"This merger combines two of the fastest-growing video game
retailers and positions GameStop for long-term leadership domestically
and internationally," indicated R. Richard Fontaine, Chairman and
Chief Executive Officer of GameStop. "Bringing together GameStop and
Electronics Boutique creates a wealth of growth opportunities, as well
as important cost and selling synergies maximizing stockholder value."
"We are proud of Electronics Boutique employees, whose world-class
capabilities have enabled us to deliver outstanding performance," said
Jeffrey Griffiths, President and Chief Executive Officer of
Electronics Boutique Holdings Corp. "As we become one organization, I
am also pleased that our stockholders will have the opportunity to
participate in GameStop's continued long-term growth in this
fast-growing specialty retail sector."
Additional Information about This Transaction
GSC Holdings Corp. has filed with the Securities and Exchange
Commission a Registration Statement on Form S-4 (Registration No.
333-125161) containing a joint proxy statement-prospectus regarding
the proposed transaction involving GameStop and Electronics Boutique.
GameStop and Electronics Boutique mailed the definitive joint proxy
statement-prospectus to their respective security holders on or about
September 7, 2005. Investors are urged to read the definitive joint
proxy statement-prospectus regarding the proposed transaction as it
contains important information. Stockholders may obtain a free copy of
the definitive joint proxy statement-prospectus, as well as other
filings containing information about GSC Holdings Corp., GameStop
Corp. and Electronics Boutique Holdings Corp., without charge, at the
SEC's Internet site at http://www.sec.gov. You may also obtain these
documents from the respective websites of each of GameStop and
Electronics Boutique at http://www.gamestop.com/investor-relations and
http://www.ebholdings.com. Copies of the definitive joint proxy
statement-prospectus and the SEC filings that are incorporated by
reference in the definitive joint proxy statement-prospectus can also
be obtained, without charge, by directing a request to GameStop Corp.,
625 Westport Parkway, Grapevine, Texas 76051, Attention: Investor
Relations, or to Electronics Boutique Holdings Corp., 931 South
Matlack Street, West Chester, Pennsylvania 19382, Attention: Investor
Relations. This press release shall not constitute an offer to sell or
a solicitation of an offer to purchase any securities, and shall not
constitute an offer, solicitation or sale in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful.
About GameStop Corp.
Headquartered in Grapevine, Texas, GameStop Corp. (NYSE:GME)
(NYSE:GME.B) is one of the nation's largest video game and
entertainment software retailers. The company operates 1,980 retail
stores throughout the 50 states, the District of Columbia, Puerto
Rico, Ireland and the United Kingdom, primarily under the GameStop(R)
brand. In addition, the company owns a commerce-enabled Web property,
GameStop.com, and Game Informer(R) magazine, a leading video and
computer game publication.
GameStop Corp. sells the most popular new software, hardware and
game accessories for the PC and next generation video game systems
from Sony, Nintendo, and Microsoft. In addition, the company sells
computer and video game magazines and strategy guides, action figures
and other related merchandise to more than 30 million customers.
General information on GameStop Corp. can be obtained via the
Internet by visiting the company's corporate website:
http://www.gamestop.com/investor-relations/.
About Electronics Boutique Holdings Corp.
Electronics Boutique, a Fortune 1000 company, is a leading global
retailer dedicated exclusively to video game hardware and software, PC
entertainment software, accessories and related products. As of July
30, 2005, the company operated 2,280 stores in the United States,
Australia, Canada, Denmark, Finland, Germany, Italy, New Zealand,
Norway, Puerto Rico, Spain and Sweden -- primarily under the names EB
Games and Electronics Boutique. The company operates an e-commerce
website at http://www.ebgames.com. Additional company information is
available at http://www.ebholdings.com.
SAFE HARBOR
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
statements include, but are not limited to, statements about the
benefits of the business combination transaction involving GameStop
and Electronics Boutique, including future financial and operating
results, the new company's plans, objectives, expectations and
intentions and other statements that are not historical facts. Such
statements are based upon the current beliefs and expectations of
GameStop's and Electronics Boutique's management and are subject to
significant risks and uncertainties. Actual results may differ from
those set forth in the forward-looking statements.
The following factors, among others, could cause actual results to
differ from those set forth in the forward-looking statements: the
risk that the businesses will not be integrated successfully; the risk
that the cost savings and any other synergies from the transaction may
not be fully realized or may take longer to realize than expected;
disruption from the transaction making it more difficult to maintain
relationships with customers, employees or suppliers; and competition
and its effect on pricing, spending, third-party relationships and
revenues. Additional factors that could cause GameStop's and
Electronics Boutique's results to differ materially from those
described in the forward-looking statements can be found in the Annual
Reports on Forms 10-K/A of GameStop and Electronics Boutique for the
fiscal year ended January 29, 2005 filed with the SEC and available at
the SEC's Internet site at http://www.sec.gov.