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GP Strategies Reports Extension of Deadline Until Oct.1, 1999 for Buy-Out Offer From an...

NEW YORK--(BUSINESS WIRE)--Sept. 21, 1999--

GP Strategies Corp. (NYSE:GPX) Tuesday announced that VS&A Communications Partners III L.P. ("VS&A"), an affiliate of Veronis Suhler & Associates Inc., has extended until Oct. 1, 1999 the deadline for the previously announced proposal by VS&A

and Co. 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.

The VS&A proposal now provides that it will be considered withdrawn without further action if a definitive merger agreement has not been executed and delivered prior to 5 p.m. Eastern Daylight Savings Time on Oct. 1, 1999.

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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