TENDERS AND REDEMPTIONS Oct. 19, 2001

YANKEENETS LLC and YANKEENETS CAPITAL INC. said Friday (Oct. 19) that they had begun a cash tender offer and related consent solicitation for all of their outstanding 12.75% senior notes due 2007. The offer will expire at 5 p.m. ET on Nov. 16, subject to possible further extension. The New York-based operator of professional sports teams said it will purchase the outstanding notes at a price based on a 50-basis point fixed spread over the yield of the reference security, the 4.75% U.S. Treasury note due Feb. 15, 2004. The purchase price will include a $30 per $1,000 principal amount consent payment for all holders tendering their notes (and thus giving their consents to proposed indenture changes terminating the covenant defeasance and eliminating certain restrictive covenants and events of default) by the consent deadline, which is expected to be 5 p.m. ET on Nov. 1, or any later date on which YankeeNets receives consents from holders of a majority in of the principal amount of the notes. Payment for tendered notes will be made two business days following expiration of the tender offer. Completion of the tender offer and payment of the offer price and consent payment are subject to various conditions, including the condition that there be validly tendered and not withdrawn at least a majority of the outstanding notes. Lehman Brothers is dealer manager and solicitation agent. The information agent is D. F. King & Co., Inc. and the depositary is State Street Bank and Trust Company.

UNISYS CORP. (UIS) said in a Securities and Exchange commission filing on Friday (Oct. 19) that it had redeemed the remaining $14.9 million of outstanding 11.75% senior notes due 2004 on Oct. 15, at a price of 103.917% of par. In June 2001, the Blue Bell, Pa.-based technology solutions provider completed a cash tender offer for $319.2 million principal amount of its 11.75% senior notes due 2004. As a result of the tender, Unisys recorded an extraordinary after-tax charge of $17.2 million, net of $9.3 million tax benefit, or five cents per diluted share, in the second quarter of 2001 for the premium paid, unamortized debt-related expenses and transaction costs of the tender offer.

ALAMOSA HOLDINGS, INC. (APCS) said Friday (Oct. 19) that its wholly owned ALAMOSA (DELAWARE), INC. subsidiary has extended the expiration date for its offer to exchange up to $150 million of newly issued, publicly tradable 13.625% senior notes due 2011 for a like amount of outstanding notes previously issued in a private placement. The offer, which was to have expired on Oct. 18, will now expire at 5 p.m. ET on Oct. 23. As of the close of business on Sept. 18, $149.54 million of the notes had been tendered under the offer, which was disclosed to noteholders in a prospectus issued Sept. 19 but not publicly announced at the time by Alamosa, a Lubbock, Tex. local Sprint PCS provider.

SPANISH BROADCASTING SYSTEM INC. (SBSA) said Thursday (Oct. 18) that it had begun an offer to exchange up to $335 million newly issued 9.625% senior subordinated notes due 2009, which have been registered under the Securities Act of 1933 for public trading, for a like amount of outstanding notes issued in November 1999 and June 2001, which had not been registered. The exchange offer will expire at 5 p.m. ET on Nov. 15. The Coconut Grove, Fla.-based Spanish-language radio broadcaster said the exchange offer is not conditioned upon a minimum amount of the existing notes having been tendered. The Bank of New York is the exchange agent.

AIRGAS, INC. (ARG) said Wednesday (Oct. 17) that it had extended the expiration date of its offer to exchange up to $225 million newly issued, publicly tradable 9.125% senior subordinated notes due 2011 for a like amount of outstanding notes which were issued under Rule 144A on July 30. The Radnor, Pa.-based distributor of industrial, medical and specialty gases said the offer, which was to have expired at midnight ET on Oct. 16, will now expire at 5 p.m. ET on Oct. 22.

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