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ADMINISTAFF ANNOUNCES TWO-FOR-ONE STOCK SPLIT
HOUSTON, TX – September 14, 2000
– Administaff, Inc. (NYSE: ASF), the leading Professional
Employer Organization (PEO), today announced that its Board of Directors
has approved a two-for-one split of its common stock. The stock
split will be effected in the form of a stock dividend, and will
entitle each stockholder of record at the close of business on Sept.
25, 2000 to receive one additional share of common stock for each
share of the company’s common stock held on that date. The
additional shares will be distributed on Oct. 16, 2000.
As of September 12, 2000, Administaff had approximately
13.7 million shares of common stock outstanding. When the split
is completed, that number will increase to approximately 27.4 million
shares.
Administaff is a leading personnel management
company that serves as a full-service human resources department
for small and medium-sized businesses throughout the United States.
With 1999 revenues of $2.3 billion, Administaff ranks number 615
on the Fortune 1000 list. The company also is included for the second
consecutive year on Fortune’s list of "America’s
Most Admired Companies" and for the third consecutive year
on the Information Week 500 list of leading information technology
innovators.
Administaff’s Personnel Management System
includes employment administration, benefits management, government
compliance, recruiting and selection, employer liability management,
training and development, performance management and owner support.
These core services are complemented by an eBusiness strategy that
includes Administaff Assistant SM, an eService platform
that provides clients and worksite employees with information and
resources to help maximize the benefit of their Administaff services;
and bizzportSM, an eCommerce portal that features value-added
products and services from best-of-class providers such as American
Express, Aon Enterprise, AT&T, Bank One, Dell, Forrester Research,
IBM, MobShop and works.com.
Administaff has 29 sales offices in 17
major markets. For additional information, visit the company’s
web site at www.administaff.com.
(Note: The statements contained in this press
release that are not historical facts are forward-looking statements
that involve a number of risks and uncertainties. Therefore, the
actual results of future events described in such forward-looking
statements could differ materially from those stated in such forward-looking
statements. Among the factors that could cause actual results to
differ materially are: (i) regulatory and tax developments; (ii)
changes in Administaff’s direct costs and operating expenses;
(iii) the estimated costs and effectiveness of capital projects
and investments in technology and infrastructure; (iv) Administaff’s
ability to effectively implement its eBusiness strategy; (v) the
effectiveness of Administaff’s sales and marketing efforts,
including the company’s marketing arrangements with other companies;
and (vi) changes in the competitive environments in the PEO industry.
These factors are described in further detail in Administaff’s
filings with the Securities and Exchange Commission.)
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