Anteon tenders for 12% notes

New York, Nov. 20 - Anteon International Corp. said that it had begun a tender offer and consent solicitation for all of its $75 million of outstanding 12% senior subordinated notes due 2009.

It set a consent deadline of 5 p.m. ET on Dec. 5 and set 12 a.m. ET on Dec. 19 as the expiration deadline, with both deadlines subject to possible extension.

Anteon, a Fairfax, Va. -based information technology and systems engineering and integration company, said the consideration to be paid for the notes will be calculated on the third business day before the tender offer expires, currently Dec. 16, subject to possible extension, based on a formula using the yield of the 3.25% U.S. Treasury Note due May 31, 2004 plus 100 basis points. The total consideration includes a consent payment of $20 per $1,000 principal amount for notes tendered by the consent deadline. The company is seeking noteholder consents to eliminating substantially all of the restrictive covenants and certain events of default under the Indenture for the notes, and for certain other amendments.

Holders tendering after the consent deadline will receive the tender offer consideration but not consent payment.

Closing of the tender offer is subject to: the closing by Anteon of certain amendments to its existing credit facility, the proceeds of which will be used in part to pay the consideration for the tender offer and consent solicitation; the receipt of the required consents from the holders of notes; and certain other customary conditions.

Credit Suisse First Boston LLC is the dealer manager and solicitation agent (call the Liability Management Group at 800 820-1653 or 212 538-4807). D.F. King & Co., Inc. is the information agent (212 269-5550 or 888 644-6071).

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