JANUARY 11, 2000
FOR IMMEDIATE RELEASE

JETS SOLD TO ROBERT WOOD JOHNSON IV

JANUARY 11, 2000 NEW YORK -- THE ESTATE OF LEON HESS ANNOUNCED TODAY THAT IT HAS ENTERED INTO A DEFINITIVE AGREEMENT WITH ROBERT WOOD JOHNSON IV TO SELL THE NEW YORK JETS FOOTBALL TEAM FOR APPROXIMATELY $635 MILLION. THE TRANSACTION IS SUBJECT TO THE APPROVAL OF THE NATIONAL FOOTBALL LEAGUE.

THE NFL FINANCE COMMITTEE TODAY UNANIMOUSLY AGREED TO RECOMMEND TO THE LEAGUE THE APPROVAL OF THE SALE TO MR. JOHNSON. THE COMMITTEE EXPECTS TO MAKE ITS RECOMMENDATION TO THE 31 NFL CLUBS AT A LEAGUE MEETING ON JANUARY 18 IN NEW YORK.

THE EXECUTORS OF THE HESS ESTATE SAID TODAY: "THE LATE LEON HESS WAS THE PROUD OWNER OF THE JETS SINCE 1963. HE HAD A SPECIAL LOVE FOR THE TEAM AND ITS MANY LOYAL FANS. THE HESS FAMILY WILL REMAIN STRONG SUPPORTERS OF THE JETS AND WISHES MR. JOHNSON, BILL PARCELLS, THE ENTIRE JETS ORGANIZATION AND PLAYERS EVERY SUCCESS IN THE FUTURE AND THANKS THE MANY LOYAL JETS FANS."