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Hercules Announces Acceptance of $102,908,000 11.125% Senior Notes Due 2007 in Tender Offer
 


 

WILMINGTON, DE, APRIL 7, 2006 . . . Hercules Incorporated (NYSE: HPC) (“Hercules”) announced today that its offer to purchase for cash (the “Offer”) any and all of its outstanding $118,968,000 in aggregate principal amount 11.125% Senior Notes due 2007 (CUSIP Nos. 427056AY2 and 427056AW6) (the “Notes”) on the terms and subject to the conditions of its Offer to Purchase and Consent Solicitation Statement dated March 8, 2006 (the “Statement”) expired at 5:00 p.m., New York City time, on April 5, 2006 (the “Expiration Date”). Hercules announced that it has purchased all Notes validly tendered pursuant to the Offer and not withdrawn prior to the Expiration Date. According to Wells Fargo Bank, N.A., the depositary for the Offer, $102,908,000 in aggregate principal amount of the Notes were validly tendered and not withdrawn.

Holders who validly tendered their Notes prior the Expiration Date received $1,087.06 per $1,000 principal amount of the Notes. Holders who validly tendered their Notes prior to the Expiration Date  also received accrued interest on the tendered Notes up to, but not including, the scheduled payment date, April 6, 2006 (the “Payment Date”), in the amount of $43.57 for each $1,000 principal amount of Notes validly tendered and not withdrawn pursuant to the Offer.

Following the purchase of the Notes accepted in the Offer, approximately $16,060,000 in aggregate principal amount of the Notes remain outstanding. The aggregate cost to purchase the Notes tendered pursuant to the Offer, including accrued and unpaid interest, was $116,350,872.04.

This announcement is not an offer to purchase, a solicitation of an offer to sell or a solicitation of consent with respect to any Notes. The full terms of the tender offer and the consent solicitation are set forth in the Statement and in the related consent and letter of transmittal.

Credit Suisse Securities (USA) LLC (“Credit Suisse”) and Wachovia Capital Markets LLC (“Wachovia Securities”) acted as Dealer Managers and Solicitation Agents for the tender offer and consent solicitation, with Wells Fargo Bank, N.A. acting as Depositary and Mellon Investor Services LLC as Information Agent.

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Hercules manufactures and markets chemical specialties globally for making a variety of products for home, office and industrial markets. For more information, visit the Hercules website at www.herc.com.

This news release includes forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, reflecting management's current analysis and expectations, based on what management believes to be reasonable assumptions. Forward-looking statements may involve known or unknown risks, uncertainties and other factors, which may cause the actual results to differ materially from those projected, stated or implied depending on such factors as: ability to raise capital, ability to refinance, ability to execute divestitures, asset dispositions, and adverse legal and regulatory developments. Accordingly, there can be no assurance that the Company will meet future results, performance or achievements expressed or implied by such forward-looking statements. As appropriate, additional factors are contained in other reports filed by the Company with the Securities and Exchange Commission. This paragraph is included to provide safe harbor for forward-looking statements, which are not generally required to be publicly revised as circumstances change, and which the Company does not intend to update.

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Media Contact: Investor Contact:
John Riley
jriley@herc.com
(302) 594-6025
Stu Fornoff
sfornoff@herc.com
(302) 594-7151


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