Interline Brands Announces Initial Settlement Of Tender Offer

JACKSONVILLE, Fla., Nov. 16, 2010 (GLOBE NEWSWIRE) -- Interline Brands, Inc., a New Jersey corporation (the "Company") and a wholly-owned subsidiary of Interline Brands, Inc., a Delaware corporation (NYSE:IBI), announced today the early tender and consent solicitation results from its previously announced offer to purchase for cash (the "Offer") any and all of its outstanding 8 1/8% Senior Subordinated Notes due 2014 (the "Notes") pursuant to the Offer to Purchase and Consent Solicitation Statement, dated November 1, 2010 (the "Statement"). In conjunction with the Offer, the Company solicited consents to the adoption of amendments (the "Proposed Amendments") to the indenture governing the Notes (the "Indenture") and to the execution of a supplemental indenture effecting the Proposed Amendments (the "Fourth Supplemental Indenture").

As of November 15, at 5:00 p.m., New York City time, (the "Consent Deadline"), the Company received the requisite consents to enter into the Fourth Supplemental Indenture, dated November 15, 2010, among the Company, the guarantors under the Indenture and The Bank of New York Mellon Trust Company, N.A., as trustee. The Fourth Supplemental Indenture became effective on November 15, 2010 upon execution by the parties thereto and the Proposed Amendments eliminating most of the restrictive covenants and certain of the events of default contained in the Indenture became operative on November 16, 2010, when the Company accepted for purchase more than a majority in principal amount of the outstanding Notes.

On November 16, 2010 (the "Initial Settlement Date"), the Company accepted and purchased $135,573,000 principal amount of the outstanding Notes (or 90% of the outstanding Notes) in the Offer for a purchase price equal to $1,043.13, plus accrued and unpaid interest, for each $1,000 principal amount of the Notes purchased. After giving effect to the Notes purchased on the Initial Settlement Date, an aggregate of $15,108,000 principal amount of the Notes currently remains outstanding.