Acquisition of Assets and Trademarks from Gum Tech International April 11, 2001 FOR IMMEDIATE RELEASE The Wm. Wrigley Jr. Company (NYSE: WWY) has signed a definitive agreement to acquire selected assets of Gum Tech International (NASDAQ: GUMM). Those assets include Gum Tech's manufacturing and research operations in Phoenix, Arizona; its gum brand trademarks; and several third-party, manufacturing contracts. The agreement calls for a cash payment of $25 million and the purchase of 200,000 shares of Gum Tech's stock by the Wrigley Company. Gum Tech International will remain an ongoing enterprise involving various collaborative product efforts, including two joint ventures, and will continue to expand its presence in the market for delivery of bio-active compounds. Ron Waters, the Wrigley Company's Senior Vice President & CFO, remarked: "Wrigley Healthcare will be the primary beneficiary of this agreement. These new resources will enhance the division's ability to develop and produce unique, health benefit products - such as its recently launched SurpassŪ antacid chewing gum. The acquisition strengthens the foundation of this new Wrigley business platform, and increases our overall production capacity and flexibility. We are also pleased that Gary Kehoe, President & COO of Gum Tech, will be joining our Company and adding his technical and business expertise to an already excellent Wrigley team." The acquisition is subject to a number of conditions, including approval by the shareholders of Gum Tech International, and is expected to be formally completed during the second quarter of this year. FROM: WM. WRIGLEY JR. COMPANY Christopher J. Perille Director - Corporate Communications Phone: (312) 644-2121 To the extent that statements contained in this press release may be considered forward-looking statements, the following will be deemed to be the Company's meaningful cautionary disclosure regarding such statements. A variety of factors could cause actual results to differ materially from the anticipated results or expectations expressed. The important factors that could affect these outcomes are set forth in Exhibit 99 to the Company's Annual Report on Form 10-K for the year ended December 31, 2000. << Back