Apogee Enterprises Closes On $125 Million Revolving Credit Facility

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MINNEAPOLIS, Apr 25, 2002 (BUSINESS WIRE) -- Apogee Enterprises, Inc. (Nasdaq:APOG) announced that today it closed on a new $125 million unsecured, revolving credit facility. Borrowings under the four-year, committed facility will be available for working capital requirements and general corporate purposes, including capital expenditures and to replace borrowings under Apogee's previously existing $125 million secured, revolving credit facility, which was terminated upon closing of the new facility.

"In less than three years, we have reduced our outstanding debt by more than $126 million, while improving our debt-to-total-capital ratio to 29 percent. The much improved terms and conditions associated with our new, unsecured facility are indicative of this significantly improved financial condition," said Michael B. Clauer, Apogee executive vice president and chief financial officer.

The Bank of New York serves as administrative agent of the new facility, with U.S. Bank National Association, Harris Trust and Savings Bank and JPMorgan Chase Bank serving as co-syndication and co-documentation agents. BNY Capital Markets, Inc. served as sole lead arranger of the new facility. Additional lenders under the new facility include Comerica Bank, Wells Fargo Bank and National City Bank.

Apogee Enterprises, Inc. (www.apog.com), headquartered in Minneapolis, is a world leader in technologies involving the design and development of value-added glass products, services and systems. The company is organized in three segments: 

    --  Architectural products and services companies design,
        engineer, fabricate and install the walls of glass and windows
        comprising the outside skin of commercial and institutional
        buildings.
    --  Large-scale optical technologies companies develop and produce
        high technology glass that enhances the visual performance of
        products for the display, imaging and picture framing
        industries.
    --  Automotive replacement glass and services companies fabricate,
        repair and replace automobile windshields and windows.

CONTACT:          Apogee Enterprises, Inc., Minneapolis
                  Investor Relations:
                  Mary Ann Jackson, 952/830-0674
                  mjackson@apog.com

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