Exhibit 99.1
FOR IMMEDIATE RELEASE NEWS
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October 19, 2001 Nasdaq National Market-KARE
KOALA CORPORATION ANNOUNCES APPOINTMENT
OF RANDY STEIN TO BOARD OF DIRECTORS
DENVER, Colorado - Koala Corporation (Nasdaq National Market-KARE), a
diversified business-to-business provider of family-friendly solutions, today
announced that Randy Stein has been appointed to the Company's board of
directors. Stein, a former principal at PricewaterhouseCoopers LLP, joins the
board with diverse experience working on behalf of both public and private
companies. Stein, who will serve on Koala's audit committee, also sits on the
board of publicly traded Westport Resources (NYSE-WRC), where he is chairman of
the company's audit committee.
At PricewaterhouseCoopers, Stein led the Tax Practice of the company's Denver
office. His responsibilities included client service delivery, new business
development, profitability, budgeting, operations and human resource management.
He also integrated the merged Denver tax practices of Coopers & Lybrand L.L.P.
and Price Waterhouse.
Prior to completing his 20-year tenure with PricewaterhouseCoopers, Stein served
as an executive officer of a Fortune 1000 oil and gas company, where he
participated in the consummation of more than $1 billion in acquisitions during
a six-year period, and assisted in the creation of one of the first publicly
traded royalty trusts. Stein received his bachelor's of science degree in
accounting from Florida State University.
Mark Betker, chairman and CEO, said, "Randy joins our board with extensive
experience in a wide variety of business-management issues. His background and
expertise in the financial management arena will be an especially valuable
resource."
"It is a pleasure and honor to join Koala Corporation's board," Stein said. "I
am impressed with the Company's management team, focus and business prospects,
and look forward to the opportunities associated with the Company and its
continued success."
Betker said Stein replaces Ellen Robinson, who joined the board in 1997. "We
would like to express our gratitude to Ellen for the time she spent on our
board. Her insight and contributions have been of great value and we wish her
the very best in her future endeavors."
Founded in 1986, Koala Corporation is an integrated provider of products and
solutions designed to help businesses become "family friendly" and allow
children to play safely in public. The Company develops and markets a wide
variety of infant and child protection and activities products, which are
marketed under the Company's recognizable "Koala Bear Kare" brand name. Koala's
strategic objective is to address the growing commercial demand for safe, public
play environments for children, as well as products and solutions that help
businesses create family-friendly atmospheres for their patrons.
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Statements made in this news release that are not historical facts may be
forward-looking statements. Such statements include projections regarding future
earnings results and are based upon the Company's current expectations and
assumptions, which are subject to a number of risks and uncertainties. Actual
results may differ materially from those projected in any forward-looking
statement. There are a number of important factors that could cause actual
results to differ materially from those anticipated by any forward-looking
information. A description of risks and uncertainties attendant to Koala
Corporation and its industry and other factors which could affect the Company's
financial results are included in the Company's filings with the Securities and
Exchange Commission including its most recent Annual Report on Form 10-K and
Quarterly Report on Form 10-Q.
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CONTACTS:
Koala Corporation Pfeiffer High Public Relations, Inc.
Mark Betker, CEO Geoff High
303-574-1000 303/393-7044
geoff@pfeifferhigh.com