PRESS RELEASE
March 4, 1999 Contact: Linda Grunberg
Director of Public Relations
Phone: 402-255-3748
Fax: 402-390-7188
Email: lindag@dtn.com
Contact: Brian Larson
Vice President and CFO
Phone: 402-255-3757
Fax: 402-255-8227
DTN Amends Shareholder Rights Plan
OMAHA, NEB - Data Transmission Network Corporation (DTN) (NASDAQ: DTLN)
announced today that its Board of Directors has amended the Companys Shareholder
Rights Plan to allow for the purchase of up to 15 percent of the Companys common
stock before the rights under the plan become exercisable. Prior to this
amendment, the rights generally became exercisable if a person or group acquired
11 percent or more of DTNs common stock or announced a tender offer for 11
percent or more of DTNs common stock. As amended, the Plan allows a person or
group to acquire greater than 15% (but not more than 20%) of DTNs common stock
with a voting trust agreement with the Board of Directors.
This action by DTNs Board of Directors came about as a result of
conversations with an investor interested in acquiring greater than 11 percent
of the Company. The Shareholder Rights Plan was implemented in August of 1997
and is designed to assure that all stockholders receive fair and equal treatment
in the event of any proposed takeover of the Company. It also guards against
partial tender offers, open market accumulations and other abusive tactics to
gain control of the Company which might provide inadequate value to
stockholders.
-more-
- 11 -
Data Transmission Network Corporation (NASDAQ: DTLN) in Omaha,
Nebraska, is an innovative information and communication provider for a variety
of industries including agriculture, financial, energy and weather-related
industries. Additional industries served include automotive, electrical
equipment and freight transportation. DTN is committed to providing
comprehensive, time sensitive and affordably priced information including
weather, news, quotes, market analysis and commentary to more than 159,000
subscribers in the U.S. and Canada via all relevant distribution technologies.
Visit the DTN Web site for company and investor information at www.dtn.com.
####
2
- 12 -