JACKSON, MISS., (February 28, 1997) --
WorldCom, Inc. today announced that the offer to repurchase MFS Senior
Discount Notes has expired. The offer was required under the change of
control provision in the indentures for the Senior Discount Notes. The
WorldCom and MFS Communications Company, Inc. ("MFS") merger
was effective on December 31, 1996. MFS is now a wholly-owned
subsidiary of WorldCom.
The Notes affected are the MFS Communications Company, Inc.
$924,000,000 8-7/8% Senior Discount Notes due 2006 and the MFS
Communications Company, Inc. $788,320,000 9-3/8% Senior Discount Notes
due 2004.
WorldCom had offered to repurchase the Notes at 101% of the accreted
value as of February 27, 1997. The offer to repurchase began January
28, 1997 and ended February 27, 1997. As of the expiration date of the
offer, approximately $13.5 million of the 8-7/8% Senior Discount Notes
and $0.8 million of the 9-3/8% Senior Discount Notes were
repurchased.
The information agent is MacKenzie Partners, Inc. and the contact
name is Mark Harnett at 212-929-5500.
WorldCom is a global business telecommunications company. Operating
in more than 50 countries, the company is a premier provider of
facilities-based and fully integrated local, long distance,
international and Internet services. WorldCom subsidiary, UUNET
Technologies, Inc., is the world's largest provider of Internet
services. WorldCom's World Wide Web address is:
http://www.wcom.com. The common and depositary shares of WorldCom trade
on the Nasdaq National Market (U.S.) under the symbol WCOM and WCOMP,
respectively.
