Cox says $1.78 billion convertibles tendered by early tender deadline

New York, Sept. 10 - Cox Communications, Inc. said a total of $1.775 billion principal amount at maturity of its exchangeable subordinated discount debentures due 2020 were tendered by the early tender deadline or 96.6% of the outstanding amount.

The early tender deadline was 5.00 p.m. ET on Sept. 9; the offer expires at midnight ET on Sept. 23.

The Atlanta broadband communications company will pay $510 per $1,000 principal amount for exchangeables tendered before the early deadline, a figure which includes a $15 early tender premium.

For securities tendered after the early deadline but before expiration, the company will pay $495 per $1,000 principal amount at maturity.

Cox will also pay accrued cash interest in both cases.

The debentures are linked to Sprint PCS stock. As of June 30, Cox Communications had $1.8 billion principal amount at maturity of the securities outstanding.

Merrill Lynch & Co. (contact Liability Management Group at 888 654-8637) or and Citigroup Global Markets Inc. (contact Liability Management Group at 800 558-3745) are dealer managers and Global Bondholder Services Corp. (call 866 470-3900) is information agent. Credit Suisse First Boston, Lehman Brothers, UBS Investment Bank and Wachovia Securities are co-managers.

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