---------- Forwarded message ----------
Date: Thu, 27 Sep 2001 09:18:58 -0700
From: WaiLi B. Wong <[EMAIL PROTECTED]>
Subject: FW: THURSDAY SEPT-27 10AM - Customer Call-In Session With Exodus
Chairman & CEO Bill Krause
> Special Customer Call-In Session With Exodus Chairman & CEO Bill Krause
>
> Thursday, Sept. 27, 2001
> 10 a.m. PDT
>
> Call-In Phone #: Domestic: 800.263.9161
> Call-In Phone #: International: 415.537.1811
> Call Name: "Customer call in session"
>
> This session will be available for replay for 10 days;
> watch this spot for replay information.
> September 26, 2001
> Dear Valued Exodus Customer:
> You are a valued customer of Exodus and a integral member of our
> community. The purpose of this letter is to inform you about an action we
> have taken that will enable us to restore financial stability to Exodus.
> Today, Exodus filed voluntary petitions for reorganization under Chapter
> 11 of the U.S. Bankruptcy Code. After reviewing various alternatives, we
> concluded that reorganization under Chapter 11 provides us the most
> effective and expedient means to restructure the Company in a process that
> will allow us to continue uninterrupted service to you our valued
> customer. This action will enable us to strengthen our balance sheet by
> reducing our debt, eliminating unneeded facilities, and achieving cash
> flow breakeven, thereby providing sufficient liquidity to continue to
> operate and grow our business.
> In conjunction with this filing, Exodus has received a commitment for up
> to $200 million in debtor-in-possession (DIP) financing from GE Capital to
> provide funding for our operations during the restructuring. This
> financing, in addition to our cash from operations going forward, enables
> Exodus to assure you that daily operations of our Internet Data Centers
> (IDCs) and offices will continue uninterrupted.
> It is important to emphasize that Exodus is not going out of business.
> Chapter 11 means reorganization, not liquidation. Reorganization under
> Chapter 11 gives us the time to restructure and take the steps necessary
> to restore financial stability to Exodus while we continue day-to-day
> operations. You, our valued customer, continue to be our number one
> priority. We remain dedicated to serving your needs by providing you with
> the highest quality managed web hosting, network and other Internet
> related services in the industry.
> In connection to today's announcement, information regarding our
> voluntary filing for Chapter 11 reorganization can be found on our
> external web site (www.exodus.net). There is also an informational
> hotline you may call: 1.800.284.9440.
> As your Account Manager, I will provide you with best -in-class service
> from the industry's leading provider of complex hosting services. If you
> have any questions concerns please contact me direct at 408-346-2548.
>
> Sincerely,
>
> WaiLi B. Wong
> ------------------
> <<...OLE_Obj...>>
> Western Area & Asia Pacific
> Service Provider Account Manager
> Direct: 408.346.2548 Cell: 650.302.6262
> Toll Free: 1.888.239.6387 ext.2548 e-Fax: 240.368.0692
> E-mail: [EMAIL PROTECTED] http://www.exodus.net
> ===========================================
> The Infrastructure for the Digital Economy
> ===========================================
>
>
>
