Case No. 02-13533 (AJG), (Jointly Administered)United States Bankruptcy Court, S.D. New York
September 12, 2003
ELECTION FORM FOR TREATMENT OF CLASS 10 MCIC SUBORDINATED DEBT CLAIMS (8% CUMULATIVE QUARTERLY INCOME PREFERRED SECURITIES (“QUIPS”)) UNDER DEBTORS’ SECOND AMENDED JOINT PLAN OF REORGANIZATION UNDER CHAPTER 11 OF THE BANKRUPTCY CODE
ARTHUR GONZALEZ, Bankruptcy Judge
The Election Expiration Date is 4:00 p.m. (Eastern Time) on September 29, 2003
To Holders of QUIPS:
On September 11, 2003, WorldCom, Inc. and its affiliated debtors, as debtors in possession (collectively, the “Debtors”), filed with the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) their Second Amended Joint Plan of Reorganization under Chapter 11 of the Bankruptcy Code (as amended from time to time, the “Plan”)[1] and their third supplement (the “Third Supplement”) to the Debtors’ disclosure statement related to the Plan, pursuant to section 1125 of the Bankruptcy Code (collectively with the Supplement, the Second Supplement, and the Third Supplement, and as amended from time to time, the “Disclosure Statement”). A copy of the Disclosure Statement, including the Third Supplement, was forwarded to you under separate cover (together with a ballot to accept or reject the Plan). The Plan is attached as Exhibit “A” to the Third Supplement. Each beneficial holder of a Class 10 Claim (MCIC Subordinated Debt Claims) as of September 5, 2003 has the right to elect either Cash or New Notes as the form of consideration to be received in satisfaction of such holder’s Class 10 Claim in the event the Plan is confirmed by the Bankruptcy Court. IF YOU DO NOT ELECT TO RECEIVE NEW NOTES, YOU WILL RECEIVE CASH. See
Paragraphs 5 and 7 (amending Sections 4.07(b) and 4.11 respectively) of the Plan and the Disclosure Statement for a complete description of the treatment of Class 10 Claims and the election.
We have sent you the attached Election Form because our records indicate that you are the holder of QUIPS, and as such, the beneficial holder of a Class 10 MCIC Subordinated Debt Claim. If the Plan is confirmed by the Bankruptcy Court, we will utilize the attached Election Form to execute your election. In order to exercise the election, you must complete and return the attached Election Form to us in sufficient time for your instructions to be processed and delivered to the Debtors’ agent by the Election Expiration Date set forth above. Your election will be processed by us in accordance with the established procedures.
Questions. If you have any questions about this Election Form or the election procedures described herein, please contact us. You may also contact the Debtors’ agent — Innisfree MA Incorporated, 501 Madison Avenue, New York, New York 10022, tel. (877) 825-8621.
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We must make any election on your behalf by the ElectionExpiration Date. Please provide us with your instructions as quickly aspossible.
1. Complete Item 1 by indicating the number of QUIPS that you hold.
2. Complete Item 2 by indicating your election to receive EITHER Cash OR New Notes in satisfaction of your Class 10 Claim. If you wish to receive Cash (rather than New Notes), you need not (but you may) return this form.
3. Read and Complete the certification in Item 3.
4. Return Election Form to us in enough time for us to make the election on your behalf before the Election Expiration Date.
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ELECTION FORM FOR TREATMENT OF CLASS 10 CLAIM UNDER DEBTORS’ SECOND AMENDED JOINT PLAN OF REORGANIZATION UNDER CHAPTER 11 OF THE BANKRUPTCY CODE The Election Expiration Date is 4:00 p.m. (Eastern Time) on September 29, 2003, unless extended by the Debtors in their sole discretion. Please leave sufficient time for your Election Form to reach us and be processed. Please consult the Plan and Disclosure Statement for additional information with respect to this Election Form. Item 1. Number of QUIPS. The undersigned certifies that as of September 5, 2003, the undersigned was either the beneficial owner or the nominee of a beneficial owner, of the following number of QUIPS (insert number of QUIPS in box below) (If a nominee holds your QUIPS on your behalf and you do not know the number of QUIPS held, please contact your nominee immediately):
Item 2. Irrevocable Election of Treatment. The beneficial owner of the QUIPS identified in Item 1 irrevocably elects the following treatment of its Allowed Class 10 Claim pursuant to Paragraph 7 (amending Section 4.11) of the Plan (check one box only — if you do not check a box you will be deemed to have elected to receive Cash; if you check both boxes, you will be deemed to have elected to receive Cash):
New Notes OR Cash
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Item 3. Certifications. I certify that (a) on September 5, 2003 I was the beneficial owner, or the nominee of a beneficial owner, of the number of QUIPS listed in Item 1, (b) if the “New Notes” election is made in Item 2, above, the QUIPS identified in Item 1 above are hereby delivered to the Debtors, (c) I understand that any election made hereby and any consideration to which I am entitled are subject to confirmation of the Plan, the occurrence of the Effective Date and the other terms and conditions set forth in the Plan and Disclosure Statement, and (d) I understand that in the event that the Plan is not confirmed by the Bankruptcy Court, the QUIPS delivered hereby will be returned to the holder.
Date:___, 2003
Name of Holder:__________________________________ (Print or Type)
Social Security or Federal Tax I.D. No.:_________ (Optional)
Signature:_______________________________________
Name of Person Signing:__________________________ (If other than holder)
Title (if corporation, partnership or LLC):______
Street Address:__________________________________
City, State, Zip Code:.__________________________
Telephone Number:________________________________
THIS FORM SHOULD BE RETURNED ONLY TO YOUR NOMINEE. IF YOU WOULD LIKE ANOTHER COPY OF THE DISCLOSURE STATEMENT (INCLUDING THE PLAN), CONTACT THE DEBTORS’ AGENT, INNISFREE MA INCORPORATED AT (877) 825-8621.
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