Nu Skin Finalizes Purchase of Corporate Properties

Company moves forward with new Innovation Center

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Jan 04, 2011, 07:30 ET

PROVO, Utah, Jan. 4, 2011 /PRNewswire/ -- In the next steps of its headquarters expansion project, Nu Skin Enterprises, Inc. (NYSE: NUS) today announced that it purchased its existing corporate headquarters buildings and distribution center in Provo, Utah, for approximately $33 million.

"The completion of the purchase agreement and purchase of these buildings was the next step in our planned development project that will feature a new innovation center and expanded downtown campus," said Truman Hunt, Nu Skin president and chief executive officer. "We are pleased with our pace in moving forward with this project and look forward to breaking ground on the project this spring."

"From a financial perspective, we expect that the purchase of these buildings will have a positive impact on our earnings," said Ritch Wood, Nu Skin chief financial officer. "We borrowed some of the funds, taking advantage of current favorable borrowing rates. We anticipate this transaction will add approximately $0.02 per share annually to our bottom line from 2011 forward."

Nu Skin is purchasing the buildings from two partnerships that are owned primarily by some of the company's founding stockholders, including Blake M. Roney, Steven J. Lund and Sandra N. Tillotson, who are currently serving as directors and executive or senior officers of the company. The transaction was reviewed, negotiated and approved by a special committee of independent directors, who retained independent advisors to assist them in their review.

About Nu Skin Enterprises

Nu Skin Enterprises, Inc. demonstrates its tradition of innovation through its comprehensive anti-aging product portfolio, independent business opportunity and corporate social responsibility initiatives. The company's scientific leadership in both skin care and nutrition has established Nu Skin as a premier anti-aging company, evidenced in its unique ageLOC™ science that addresses aging at its source. The company's anti-aging products feature the new ageLOC suite of products including the ageLOC Transformation daily skin care system, ageLOC Future Serum and the ageLOC Edition Galvanic Spa® System II, as well as the ageLOC Vitality nutritional supplement. A global direct selling company, Nu Skin operates in 50 markets worldwide and has more than 785,000 independent distributors. Nu Skin is traded on the New York Stock Exchange under the symbol "NUS." More information is available at http://www.nuskin.com.

Please note: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the company's current expectations and beliefs regarding the company's development project and its effect on the company's earnings per share and foreign currency exposure. These forward-looking statements and related assumptions are based on current information and expectations regarding the timing, cost and financing of the company's development project, and are subject to risks and uncertainties, including that the company's development project may cost more than anticipated and take longer to complete than anticipated. These forward-looking statements are further qualified by the risks discussed in company filings with the U.S. Securities and Exchange Commission, which risks could cause actual results and outcomes to differ materially from expected results and any forward-looking statements or views expressed herein. The company undertakes no obligation to publicly update any forward-looking statement contained in this press release, whether as a result of new information, future developments or otherwise, except as may be required by law.

SOURCE Nu Skin Enterprises, Inc.