Arris plans to call $50 million 4½% convertibles

New York, Feb. 3 - Arris said it plans to redeem $50 million of its 4½% convertible subordinated notes due 2008 that were issued less than a year ago.

The Duluth, Ga., telecommunications technology company said that it expects to redeem the securities in March and will mail the notice of redemption on or after Feb. 4.

Up to the redemption date, holders whose notes are called may convert them into Arris stock at a price of $5.00 per share. Arris stock closed at $9.85 Tuesday.

Any notes converted will be redeem at par plus accrued interest.

All holders, whether they convert or not, will also receive an interest make-whole payment in stock.

Arris originally issued $125 million of the notes on March 18, 2003.

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