| FORT LAUDERDALE, Fla., Sept. 15, 1999 - Florida Panthers
Holdings, Inc. (NYSE: PAW) announced today that effective September 28,
1999, the Company will change its name to Boca Resorts, Inc. and its stock
will be traded on the New York Stock Exchange under the symbol RST.
The name change more accurately reflects the Company's plan to strengthen
its position in the luxury segment of the resort market.
"When you look at our resort properties it is obvious that we have a
one of a kind collection of prestigious, unique and profitable assets.
It is the Board's desire to increase its focus on our existing resorts
to ensure that we consistently offer the best possible guest experience
in the industry, while maximizing value to our shareholders," said Richard
C. Rochon, Vice Chairman and President of Florida Panthers Holdings, Inc.
According to the Company, the name change will not require shareholders
of Florida Panthers Holdings, Inc. to take any action for their shares
to be converted into shares of Boca Resorts, Inc.
Florida Panthers Holdings, Inc. owns the Boca Raton Resort Club, the
Registry Resort, the Arizona Biltmore, the Edgewater Beach Hotel, the Hyatt
Regency Pier 66 Resort and Marina, the Radisson Bahia Mar Resort and Yachting
Center and Grande Oaks Golf Club. The Company also owns the Florida Panthers
Hockey Club and has interests in the operations of the National Car Rental
Center located in Sunrise, Florida and the Miami Arena. |
