EXHIBIT 99.1
INVESTOR CONTACT MEDIA CONTACT
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Geoffrey Helliwell Thomas Anderson
Treasurer Director, Corporate Communications
(781) 533 - 2032 (781) 533 - 2225
(800) 225 - 3384 (800) 225 - 3384
Geoffrey_Helliwell@Millipore.com Thomas_Anderson@Millipore.com
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MILLIPORE CORPORATION ANNOUNCES RECORD AND DISTRIBUTION DATES FOR
DISTRIBUTION OF MYKROLIS COMMON STOCK
BEDFORD, Mass., January 28, 2002 - Millipore Corporation (NYSE/MIL) today
announced that its Board of Directors has declared a stock dividend of all of
the shares of common stock of Mykrolis Corporation (NYSE/MYK) owned by
Millipore. The dividend will be distributed on February 27, 2002, to Millipore
stockholders of record as of 5:00 p.m. Eastern time on February 13, 2002.
Millipore currently owns 32,500,000 shares of Mykrolis common stock, which
represents approximately 82.3 percent of the total outstanding common stock of
Mykrolis. The other 17.7 percent of the outstanding common stock of Mykrolis
was sold by Mykrolis in an initial public offering on August 9, 2001.
THE DIVIDEND DISTRIBUTION
The Mykrolis common stock owned by Millipore will be distributed to Millipore
stockholders in the amount of approximately 0.6776 of a share of Mykrolis common
stock for each share of Millipore common stock (approximately 68 shares of
Mykrolis common stock for each 100 shares of Millipore common stock). The final
ratio will be the ratio of the number of shares of Mykrolis common stock owned
by Millipore to the actual number of shares of Millipore common stock
outstanding on February 13, 2002, the record date. As of December 31, 2001, the
close of Millipore's 2001 fiscal year, Millipore had approximately 47,960,000
shares outstanding.
Ownership of the Mykrolis common stock received by Millipore stockholders will
be registered in book-entry form. Each Millipore stockholder will receive a
stock distribution statement from the distribution agent. Actual stock
certificates will not be distributed as part of this transaction. The statement
will indicate the number of full shares of Mykrolis common stock that have been
credited to that Millipore stockholder. Each Millipore stockholder also will
receive a cash payment for any fractional shares of Mykrolis common stock.
As previously announced, Millipore has received a ruling from the Internal
Revenue Service that the distribution to Millipore stockholders of the Mykrolis
common stock will be tax free to Millipore stockholders for U.S. federal income
tax purposes. Cash received in lieu of
fractional shares will be taxable. The distribution remains subject to the
conditions set forth in the Master Separation and Distribution Agreement
previously entered into between Millipore and Mykrolis.
FURTHER INFORMATION ON THE DISTRIBUTION
After February 13, 2002, the record date, an information statement will be
mailed to Millipore stockholders of record as of 5:00 p.m. Eastern time on the
record date. The information statement will include the final ratio of shares of
Mykrolis common stock to be distributed for each share of Millipore common
stock, as well as information as to how to calculate the per share cost basis of
such shares. Millipore shareholders are encouraged to read this information
statement carefully.
ABOUT MILLIPORE
Millipore is a multinational, high technology company that provides
technologies, tools and services for the development and production of new
therapeutic drugs. It serves the life science research, biotechnology and
pharmaceutical industries. For more information about Millipore visit
www.millipore.com.
ABOUT MYKROLIS
Mykrolis, based in Bedford, Massachusetts, is a global supplier of advanced
process solutions for gas and liquids filters and delivery systems for the
semiconductor, flat panel, fiber optic and optical disc industries.
Information about Mykrolis is available at www.mykrolis.com.
FORWARD LOOKING STATEMENT DISCLAIMER
The matters discussed herein, as well as in future oral and written statements
by management of Millipore Corporation that are forward-looking statements, are
based on current management expectations that involve substantial risks and
uncertainties which could cause actual results to differ materially from the
results expressed in, or implied by, these forward-looking statements. Potential
risks and uncertainties that could affect Millipore's future operating results
include, without limitation, difficulties in the successful separation of the
biosciences and microelectronics businesses; difficulties in the successful
implementation of our restructuring activities; foreign exchange rates;
increased regulatory concerns on the part of the biopharmaceutical industry;
further consolidation of drug manufacturers; competitive factors such as new
membrane technology; availability of raw materials or component products on a
timely basis; inventory risks due to shifts in market demand; change in product
mix; conditions in the economy in general; potential environmental liabilities;
the inability to utilize technology in current or planned products due to
overriding rights by third parties; difficulties inherent in research and
development activities; and the risk factors listed from time to time in
Millipore's filings with the SEC.