Valassis Seeks to Raise $160 Million

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Valassis Seeks to Raise $160 Million

Friday, May 16, 2003

Press release from the issuing company

LIVONIA, Mich., May 15 -- Valassis, the leading company in marketing services and Connective Media(TM), announced today that it intends, subject to market and other conditions, to raise approximately $160 million through an offering of 30-year convertible senior notes to qualified institutional investors. The notes will convert into Valassis' common stock at a premium, to be determined. The Company stated that it intends to use the net proceeds of the offering for general corporate purposes, including the potential repurchase of the Company's outstanding debt.

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