CAIS Internet Comments On Microsoft Closing.Business Editors/Hi-Tech Writers WASHINGTON--(BUSINESS WIRE)--Aug. 4, 2000 CAIS CAIS - California Association of Independent Schools CAIS - Campus Advanced Information System (University of Nevada, Reno, Nevada) CAIS - Canadian Agricultural Income Stabilization (Canada) CAIS - Canadian Agricultural Income Support CAIS - Canadian Association for Information Science (Edmonton, Alberta, Canada) CAIS - Canadian Association for Interoperable Systems CAIS - Canadian Association for Irish Studies (Montreal, Canada) Internet (Nasdaq"CAIS") today announced the closing of a previously announced $40 million cash investment Cash Investment Short-term obligations, usually ninety days or less, that provide a return in the form of interest payments.Notes: Examples are money-market funds and short-term CDs. See also: Cash, Money Market by Microsoft Corp. in newly issued shares of CAIS convertible preferred stock. CAIS and Microsoft have been working together on several strategic initiatives including the development of a co-branded MSN portal that will distribute Internet content via CAIS's broadband networks in the hospitality industry, with an option for Microsoft to participate with CAIS in multifamily dwelling unit industries. We will further highlight our company's performance in conjunction the issuance of our second quarter financial results after the market closes on Monday, August 7th. About CAIS Internet CAIS Internet, Inc. (Nasdaq:CAIS) is a leading broadband access solutions company. CAIS provides the mobile workforce with comprehensive high speed Internet solutions while at home in apartments, at work during the day in small-to-medium businesses, or on-the-go at airports, travel plazas, cruise ships, retail stores, and in hotel guest and meeting rooms. Whether it's creating a low cost in-building network and content service for multiple users with proprietary and patented technologies, providing a public area Internet kiosk, or giving businesses daytime connectivity with DSL & leased-line dedicated access, the company delivers a cost-effective, easy and convenient Internet experience for customers. The customer experience is the result of a one-stop, integrated solutions package of innovative CAIS network access and technologies, IPORT software, customer support, portal content and systems. |
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