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Bando McGlocklin Capital Corporation
(Name of Registrant as Specified in its Charter)
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NEWS RELEASE
Contact: George R. Schonath FOR IMMEDIATE RELEASE
(262) 523-4300
BANDO MCGLOCKLIN PROPOSES NAME CHANGE TO
THE MIDDLETON DOLL COMPANY
Pewaukee, Wis., April 16, 2001.....The Board of Directors of Bando McGlocklin
Capital Corporation (NASDAQ/NMS:BMCC) has proposed amending the company's
Articles of Incorporation to change the company's name to The Middleton Doll
Company. The proposal, which requires shareholder approval, is included in the
proxy statement for the company's annual meeting on May 3, 2001.
"The Board determined that with the growth of Lee Middleton Original Dolls,
Inc., our doll manufacturing subsidiary, the name change would more accurately
reflect the current and future growth of the company," said George R. Schonath,
president and chief executive officer.
Lee Middleton Original Dolls is a rapidly growing designer of high quality
collectible and play dolls and the largest manufacturer of baby dolls in the
United States. Lee Middleton's sales increased 20% in 2000 as a result of the
introduction of new artist-designed collectible and baby dolls and the company's
strategy to recruit new dealers and expand sales to large retailers such as FAO
Schwarz.
"In the first quarter of 2001, Lee Middleton presented its largest introduction
of new dolls and marketing programs designed to further increase sales and
develop new customers. These include launching the Artist Studio(TM) Collection
brand name for the company's limited-edition collectible dolls and creating an
industry first with the introduction of one-day and one-week limited-edition
collectible dolls which uniquely bear the date and time of production," Schonath
said. "The March 1 production of the one-day limited edition doll was a sellout
in the first week."
-more-
"We have also expanded the very successful "Small Wonder(TM)" play baby doll
into a series with the addition of infant "Newborn Wonder(TM)" and toddler
"Playtime Wonder(TM)." Introduced at the Toy Fair show in February, the new
Wonder Series collection has quickly become a hit with dealers and major
retailers alike. In addition, Lee Middleton will be offering its successful
Newborn Nursery Adoption Center concept, which displays 20 baby dolls in a
realistic nursery setting, to 50 of its best dealers," he said. "We are excited
about Lee Middleton's growth potential as the company's very special lifelike
baby dolls continue to build momentum among both customers and retailers."
"The Bando McGlocklin name has served us well since our founding in 1980. Our
original business, financial services, continues to contribute to the overall
performance of the company. Our evolution into consumer products through Lee
Middleton Original Dolls provides additional growth opportunities and the
potential to further enhance shareholder value over the long term," Schonath
said.
Bando McGlocklin Small Business Lending Corporation will continue to provide
financial services to small business as a subsidiary of The Middleton Doll
Company.
Bando McGlocklin Capital Corporation is an established financial services
company that owns Lee Middleton Original Dolls, Inc., a rapidly growing designer
of high quality collectible and play dolls. Lee Middleton is the largest
manufacturer of baby dolls in the United States.
Certain matters discussed in this press release are "forward-looking statements"
intended to qualify for the safe harbors from liability established by the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can generally be identified as such because the context of the
statement will include words such as the company "believes," "anticipates,"
"expects" or words of similar import. Similarly, statements that describe the
company's future plans, objectives or goals are also forward-looking statements.
Such forward-looking statements are subject to certain risks and uncertainties
which are described in close proximity to such statements and which could cause
actual results to differ materially from those currently anticipated.
Shareholders, potential investors and other readers are urged to consider these
factors carefully in evaluating the forward-looking statements and are cautioned
not to place undue reliance on such forward-looking statements. The
forward-looking statements made herein are only made as of the date of this
press release and the company undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or circumstances.
Bando McGlocklin Capital Corp. news releases
are available on-line 24 hours a day at:
http://www.bandomcglocklin.com
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