Press Release
October 26, 2000
NORTHBROOK, IL -- Mr. Forrest Schneider, President and Chief Executive Officer of Lane Industries, Inc., a privately
held, diversified holding company, yesterday announced that Bill DeForrest, has been named President and Chief
Executive Officer of Lane Hospitality.
Mr. DeForrest joined the Lane Hospitality staff early in the company's history, then honed his career in executive
and management positions in hotels and resorts in Colorado. He returned to Lane in 1996 as Senior Vice President
of Development and was appointed interim president in August, 2000.
"Our decision was based on a wide variety of factors," said Mr. Schneider. "Foremost among them
are Mr. DeForrest's strength of experience and knowledge of the industry, as well as the personal attributes he
brings to the position." Schneider also praised Mr. DeForrest's contributions to Lane in the area of new business
development. "Bill has been instrumental in cementing many of our recent successful acquisitions, and I am
impressed by his strong work ethic, outstanding relationship and interpersonal skills and his desire to make Lane
Hospitality a leader in its industry," Schneider continued. "Most of all, he has demonstrated the leadership
ability that is essential to build on the tremendous potential we have within our Hospitality group."
In accepting his appointment, Mr. DeForrest acknowledged the efforts and dedication of the Lane Hospitality Executive
Committee in positioning Lane Hospitality as a high quality, successful organization. "I am aware of the personal
commitment of my associates in the Lane organization," said DeForrest, "and I want them each to know
how grateful I am for both their support and their performance. I recognize that with great opportunity comes great
responsibility, and I am dedicated to doing great work on behalf of the entire Lane Hospitality network."
Lane Hospitality is one of the nation's largest hospitality companies, owning and/or managing more than 30 hotels
and resorts across the country. It is headquartered near Chicago, Illinois, and is a subsidiary of Lane Industries.
Lane Industries is a diversified holding company with interests in hotel, electronic security, farming and ranching
operations and other investments. It is also the majority shareholder of GBC, a global technology leader in document
finishing, film lamination, visual communications and paper shredder products.
-------------------------------------
Contact:
Lane Industries Bill DeForrest 847/291-5716 bdeforrest@laneind.com