Exhibit 99
Media: Brad Burns Bill White
WorldCom Sprint
800.644.NEWS 913.624.2226
Investors: Scott Hamilton Kurt Fawkes
WorldCom Sprint
601.460.5111 913.624.2268
WORLDCOM, SPRINT TERMINATE MERGER AGREEMENT
Clinton, Miss. and Kansas City, Mo., July 13, 2000 - WorldCom and Sprint today
announced that the boards of directors of both companies have acted to terminate
their merger agreement.
The companies mutually agreed that the set of conditions ultimately demanded by
the U.S. Department of Justice would compromise the customer and financial
benefits of the merger. Because the Justice Department asserted it could not be
prepared to go to trial on its theories regarding the merger before next year,
the companies decided it was not in the best interest of shareholders, customers
and employees to pursue protracted litigation. As the companies have mutually
agreed to terminate their merger agreement, no break-up fee will be incurred by
either company.
WorldCom (NASDAQ: WCOM) is a global leader in "all-distance" communications
services with operations in more than 65 countries. Revenues in 1999 were $37
billion, with more than $15 billion from high-growth data, Internet and
international services. WorldCom provides facilities-based and fully integrated
services to facilitate e-business and e-commerce in the digital generation. For
more information go to http://www.wcom.com.
Sprint is a global communications company - at the forefront of integrating long
distance, local and wireless communications services. Sprint built and operates
the United States' first nationwide all- digital, fiber-optic network and is a
leader in advanced data communications services. Sprint has $20 billion in
annual revenues and serves more than 20 million business and residential
customers. Sprint is traded on the NYSE under FON and PCS. For the latest
updates on Sprint, check http://www.sprint.com.
