OLD STONE CORP

expiry = 2003-06-03...CORPORATION AT $1.00 NET PER COMMON SHARE AND $10.00 NET PER CUMULATIVE VOTING CONVERTIBLE PREFERRED, SERIES B SHARE BY MANTICORE PROPERTIES II, L.P. THE OFFER, WITHDRAWAL RIGHTS AND PRORATION PERIOD WILL EXPIRE AT 12:00 MIDNIGHT EASTERN DAYLIGHT SAVINGS TIME, ON TUESDAY, JUNE 3, 2003, UNLESS THE OFFER IS EXTENDED. THE OFFER IS SUBJECT TO THE TERMS AND CONDITIONS CONTAINED IN THIS OFFER TO PURCHASE. SEE THE OFFER TO PURCHASE -- SECTION 14 ("CONDITIONS TO THE OFFER"). THE OFFER IS NOT CONDITIONED UPON THE RECEIPT OF FINA...

expiry = 2003-06-03...Share And $10.00 Net Per Cumulative Voting Convertible Preferred, Series B Share By Manticore Properties II, L.P., Mantpro, LLC and William A. Ackman THE OFFER, WITHDRAWAL RIGHTS AND PRORATION PERIOD WILL EXPIRE AT 12:00 MIDNIGHT EASTERN DAYLIGHT SAVINGS TIME, ON TUESDAY, JUNE 3, 2003, UNLESS THE OFFER IS EXTENDED. THE OFFER IS SUBJECT TO THE TERMS AND CONDITIONS CONTAINED IN THIS OFFER TO PURCHASE. SEE THE OFFER TO PURCHASE—SECTION 14 ("CONDITIONS TO THE OFFER"). THE OFFER IS NOT CONDITIONED UPON THE RECEIPT OF FINANCI...

txn_type = TENDER_OFFEREX-99.(A)(1) 3 a2110253zex-99_a1.txt EXHIBIT 99.(A)(1) EXHIBIT (a)(1) OFFER TO PURCHASE FOR CASH UP TO 3,813,591 SHARES OF COMMON STOCK AND UP TO 478,080 SHARES OF CUMULATIVE VOTING CONVERTIBLE PREFERRED STOCK, SERIES B OF OLD STONE CORPORATION AT $1.00 NET PER COMMON SHARE AND $10.00 NET PER CUMULATIVE VOTING CONVERTIBLE PREFERRED, SERIES B SHARE BY MANTICORE PROPERTIES II, L.P. THE OFFER, WITHDRAWAL RIGHTS AND PRORATION P...

txn_type = TENDER_OFFEREX-99.(A)(1) 3 a2111780zex-99_a1.htm EXHIBIT (A)(1) QuickLinks -- Click here to rapidly navigate through this document Exhibit (A)(1) Offer to Purchase for Cash Up to 3,813,591 Shares of Common Stock And Up to 478,080 Shares of Cumulative Voting Convertible Preferred Stock, Series B Of Old Stone Corporation At $1.00 Net Per Common Share And $10.00 Net Per Cumulative Voting Convertible Preferred, Series B Share By Manticore Properties II, L.P., Mantpro, LLC and William A. Ackman THE OFFE...

untradeable = True...NOT TO TENDER, HOW WILL THE OFFER AFFECT MY SHARES? If the Offer is not consummated or if you do not tender your Shares and Purchaser consummates the Offer, you will remain a shareholder of Old Stone. WHAT IS THE MARKET VALUE OF MY SHARES AS OF A RECENT DATE? There is no established trading market for the Shares. The Shares trade on the "pink sheets" but there has been no significant trading activity in the Shares in the last twelve months. Because the Shares are very thinly traded, market value is difficult to determine based on recent trading activity. Additionally, "premiums", while arithmetically accurate, may be less meaningful given the li...

untradeable = True...not to tender, how will the Offer affect my shares? If the Offer is not consummated or if you do not tender your Shares and Purchaser consummates the Offer, you will remain a shareholder of Old Stone. What is the market value of my shares as of a recent date? There is no established trading market for the Shares. The Shares trade on the "pink sheets" but there has been no significant trading activity in the Shares in the last twelve months. Because the Shares are very thinly traded, market value is difficult to determine based on recent trading activity. Additionally, "premiums", while arithmetically accurate, may be less meaningful given the li...