MCI WorldCom, Inc. Announces Tender Offer For Certain Notes Of CS Wireless Systems, Inc.
CLINTON, Miss., December 16, 1999 - MCI WORLDCOM, Inc. (NASDAQ:
WCOM ) announced today that it is offering to purchase for cash the
Series B 11 3/8 % Senior Discount Notes due 2006 of CS Wireless
Systems, Inc., a Delaware corporation ("CS").
MCI WorldCom is offering to pay each registered holder of the Notes
who validly tenders Notes pursuant to the tender offer prior to or on
Wednesday, January 19, 2000, unless extended, 100% of the principal
amount at stated maturity (which totaled 114.8% of the accreted value
of the Notes as of November 30, 1999 and approximately 112.95% of the
accreted value as of the expected tender purchase date). The tender
offer is being made upon the terms and subject to the conditions set
forth in the statement and letter of transmittal related to the tender
offer.
The tender offer will expire at 5:00 p.m. EST on Wednesday, January
19, 2000, unless extended. The expected date of purchase for the tender
offer is Monday, January 24,, 2000. Tenders of Notes may not be
withdrawn at any time after 5:00 p.m. EST on January 19, 2000, unless
the tender offer is extended and contains new terms materially adverse
to those holders who had previously tendered their Notes.
The tender offer is made solely by the tender offer statement dated
December 16, 1999, the related letter of transmittal, and any
amendments or supplements thereto. Copies of the tender offer statement
and letter of transmittal can be obtained from MCI WORLDCOM, Inc., at
the following address:
MCI WORLDCOM, Inc.
1801 Pennsylvania Avenue
Washington, DC 20006
(202) 887-2858 (collect)
Attention: Thomas F. Quinn.
This announcement is not an offer to purchase Notes. The tender
offer is not being made to, nor will tenders be accepted from, or on
behalf of, holders of Notes in any jurisdiction in which the making of
the tender offer or the acceptance thereof would not be in compliance
with the laws of such jurisdiction.
MCI WorldCom (NASDAQ: WCOM) is a global leader in communications
services with 1998 revenues of more than $30 billion and operations in
more than 65 countries. MCI WorldCom's global networks provide
high-capacity connectivity to more than 45,000 buildings worldwide. MCI
WorldCom and Sprint have announced a merger agreement, which the
companies expect to close in the second half of 2000, following
regulatory and shareholder approvals. The new company will be called
WorldCom. For more information go to http://www.wcom.com.
