ASHBURN, Va. –
November 17, 2003 – MCI (WCOEQ, MCWEQ) today announced that its tender offer for
all of the outstanding shares of Class A Common Stock of Digex, Incorporated (OTCBB:
DIGX) expired at 5:00 p.m., New York City time, on November 14, 2003. MCI has
accepted for purchase and payment all of the shares that were validly tendered
as of the expiration date of the offer.
results of the offer show that 19,114,996 shares were validly tendered (and not
properly withdrawn). Such tendered shares, together with 347,346 shares subject
to notices of guaranteed delivery, represent approximately 76.3% of the
outstanding shares of Class A Common Stock. The minimum condition of the offer
required that at least 74.3% of the outstanding shares be tendered in the offer.
The expiration of
the offer will be followed by a “short-form” merger between Digex Acquisition,
Inc., an indirect wholly owned subsidiary of MCI, and Digex, with Digex as the
surviving company. MCI intends to complete the merger as soon as practicable. As
a result of the merger, Digex will become an indirect wholly owned subsidiary of
Georgeson Shareholder Communications Inc. is acting as the Information Agent in
connection with the tender offer and can be contacted at (212) 440-9800 (for
banks and brokers) or (866) 295-8105 (toll free for all others).
The agreements, as well as other documentation relating to the offer, may be
obtained free of charge at the SEC’s web site, www.sec.gov, or by contacting
Georgeson Shareholder Communications. Digex stockholders and other interested
parties are urged to read the documentation relating to the offer because it
contains important information.
ABOUT WORLDCOM, INC.
WorldCom, Inc. (WCOEQ, MCWEQ), which currently conducts business under the MCI
brand name, is a leading global communications provider, delivering innovative,
cost-effective, advanced communications connectivity to businesses, governments
and consumers. With the industry’s most expansive global IP backbone, based on
company-owned POPs, and wholly-owned data networks, WorldCom develops the
converged communications products and services that are the foundation for
commerce and communications in today’s market. For more information, go to