Akamai starts tender for $101 million 5½% convertibles

New York, Feb. 10 - Akamai Technologies, Inc. said it has begun a modified dutch auction tender offer for up to $101 million principal amount of its 5½% convertible subordinated notes due 2007.

Akamai will accept tenders of notes at prices between $1,000 and $1,005 per $1,000 principal amount.

The company will select the lowest price that will enable it to buy the $101 million of convertibles or the lowest price that will allow it to buy all notes tendered if the target size is not achieved. Akamai will pay the same price for all securities purchase. Akamai will also pay accrued interest up to but not including the date of payment.

If the offer is oversubscribed, tenders will be pro rated.

The offer runs through 9 a.m. ET on March 10, unless extended.

The Cambridge, Mass. distributed computing company will fund the offer from available cash.

There is no minimum amount to complete the tender.

As of Feb. 10, Akamai had $201 million of the convertibles outstanding.

The Blackstone Group LP (866 800-8933 or call collect 212 583-5575) is dealer manager for the offer. Citigate Financial Services at (877 746-3583 or call collect at 201 499-3500) is the information agent and U.S. Bank NA is the depositary.

Full details at:

http://www.sec.gov/Archives/edgar/data/1086222/000095013504000616/b48962atexv99wxayx1yxiy.htm

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