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GP Strategies Reports Indefinite Extension of DeadlineFor Buy-Out Offer From an Affiliate of...

NEW YORK--(BUSINESS WIRE)--Oct. 4, 1999--

GP Strategies Corp. (NYSE:GPX) announced today that VS&A Communications Partners III, L.P. ("VS&A"), an affiliate of Veronis Suhler & Associates Inc., has deferred indefinitely the expiration date for the previously-announced proposal by VS&A and Company

management to acquire by merger all of the outstanding common stock and Class B capital stock of the company for minimum prices of $13 per share for the common stock and $14.625 per share for the Class B capital stock, payable in cash upon consummation of the merger, subject to VS&A's right to withdraw the proposal at any time in its sole discretion

There can be no assurances that the proposed VS&A transaction, or any other transaction, will be consummated at the prices contained in the VS&A proposal or at all.

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