Exhibit 99.1
BARNES & NOBLE
BOOKSELLERS
FOR IMMEDIATE RELEASE
Media Contact: Investor Contacts:
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Mary Ellen Keating Joseph J. Lombardi
Senior Vice President Chief Financial Officer
Corporate Communications Barnes & Noble, Inc.
Barnes & Noble, Inc. (212) 633-3215
(212) 633-3323
OR
Larry S. Zilavy
Executive Vice President
Corporate Finance & Strategic Planning
Barnes & Noble, Inc
(212) 633-3336
Barnes & Noble To Redeem All of Its $300 Million
5.25% Convertible Subordinated Notes
New York, NY (June 3, 2004)-Barnes & Noble, Inc. (NYSE: BKS), the world's
largest bookseller, today announced that it has called for redemption of all of
its $300 million outstanding 5.25% convertible subordinated notes due 2009,
effective June 28, 2004.
The redemption price is equal to 103% of the principal amount of the notes,
together with accrued interest to, but excluding, the date fixed for redemption.
The notes can be converted into common stock at a conversion price of $32.512
per share. At the close of business yesterday, Barnes & Noble's stock price
closed at $30.64.
ABOUT BARNES & NOBLE, INC.
Barnes & Noble, Inc. (NYSE: BKS) is the world's largest bookseller, operating
653 Barnes & Noble stores in 49 states. It also operates 188 B. Dalton
Bookseller stores, primarily in regional shopping malls. The company offers
titles from more than 50,000 publisher imprints, including thousands of small,
independent publishers and university
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presses. It conducts its e-commerce business through Barnes & Noble.com
(http://www.bn.com).
Barnes & Noble also has approximately a 63% interest in GameStop (NYSE: GME),
the nation's largest video game and entertainment software specialty retailer
with 1,603 stores.
General financial information on Barnes & Noble, Inc. can be obtained via the
Internet by visiting the company's corporate Web site:
http://www.barnesandnobleinc.com/financials.
SAFE HARBOR
This press release contains "forward-looking statements." Barnes & Noble is
including this statement for the express purpose of availing itself of the
protections of the safe harbor provided by the Private Securities Litigation
Reform Act of 1995 with respect to all such forward-looking statements. These
forward-looking statements are based on currently available information and
represent the beliefs of the management of the company. These statements are
subject to risks and uncertainties that could cause actual results to differ
materially. These risks include, but are not limited to, general economic and
market conditions, decreased consumer demand for the company's products,
possible disruptions in the company's computer or telephone systems, possible
work stoppages or increases in labor costs, possible increases in shipping rates
or interruptions in shipping service, effects of competition, possible
disruptions or delays in the opening of new stores or the inability to obtain
suitable sites for new stores, higher than anticipated store closing or
relocation costs, higher interest rates, the performance of the company's online
and other initiatives, the successful integration of acquired businesses,
unanticipated increases in merchandise or occupancy costs, unanticipated adverse
litigation results or effects, product shortages, and other factors which may be
outside of the company's control. Please refer to the company's annual,
quarterly and periodic reports on file with the SEC for a more detailed
discussion of these and other risks that could cause results to differ
materially.