Cox announces redemption price for Prizes, Premium Phones

New York, May 28 - Cox Communications Inc. announced the redemption price for its remaining exchangeable subordinated debentures due 2029 in the Prizes structure and 3% exchangeable subordinated debentures due 2030 in the Premium Phones structure.

The Atlanta broadband communications company will pay $88.50 for each of the 164,424 remaining Prizes, or $14.55 million in total. It will also pay accrued interest.

The price was calculated as the greater of the $88.50 principal amount and the $17.64 average market value of the 1 share of Sprint common stock associated with each of the Prizes.

Cox will pay $1,000 for each of the 107 remaining Premium Phones or $104,000 in total. It will also pay accrued interest.

The price was calculated as the greater of the $1,000 principal amount and the $143.59 average market value of the 8.14 shares of FON Stock associated with each of the Phones.

The securities will be redeemed on June 7.

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