EXHIBIT 99.1
[LOGO] ARAMARK
NEWS
RELEASE
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ARAMARK ANNOUNCES AGREEMENT TO SELL RED SOX LIMITED
PARTNERSHIP INTERESTS
PHILADELPHIA - Jan. 18, 2002 - ARAMARK (NYSE:RMK), a world leader in managed
services, today announced that it has entered into an agreement to sell its
interests in the Boston Red Sox Baseball Club and a related entity, which
controls rights to broadcast Red Sox games, to New England Sports Ventures LLC.
Upon completion of the transaction, which is expected to occur in February,
ARAMARK expects to record a pre-tax gain of approximately $40 million with
after-tax cash proceeds of approximately $50 million.
The transaction is conditioned upon the concurrent sale by the Jean R. Yawkey
Trust under a separate agreement of its general and limited partnership
interests in the Red Sox to New England Sports Ventures.
About ARAMARK
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ARAMARK is a $9 billion world leader in providing managed services - including
food, facility and other support services, uniform and career apparel, and
childcare and early education. ARAMARK has leadership positions serving the
business, education, healthcare, government, sports, entertainment and
recreation sectors. The company, headquartered in Philadelphia, has
approximately 200,000 employees serving customers in 17 countries.
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Contacts:
Media Relations: Investor Relations:
GailForce Communications ARAMARK
Christopher Hardwick, 215-238-7104 Ted Hill, 215-238-3361
Chardwick@gailforceinc.com Hill-ted@aramark.com
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