CII Financial Announces Redemption of All Outstanding 9 1/2% Senior Debentures Due Sept. 15, 2004.Business Editors LAS VEGAS--(BUSINESS WIRE)--May 5, 2003 CII CII Confederation of Indian Industry CII Chartered Insurance Institute (UK) CII Construction Industry Institute (University of Texas) CII Council of Institutional Investors Financial Inc. today announced that a Notice of Redemption for all its outstanding 9 1/2% Senior Debentures due Sept. 15, 2004 (CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. No. 12551LAC5) was mailed to registered debenture holders. As of May 5, 2003, $14,963,000 aggregate principal amount of the Senior Debentures was outstanding. The redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. will be June 3, 2003. The total redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. is $1,045.58333 per $1,000 principal amount of Senior Debentures. This price includes the applicable redemption premium redemption premium See call premium. of $25.00 plus $20.58333 accrued interest to the redemption date. The redemption price will become due and payable upon each such Senior Debenture to be redeemed on June 3, 2003. Interest on the Senior Debentures will cease to accrue on and after June 3, 2003. In order to collect the redemption price, registered holders must surrender their Senior Debentures at one of the addresses listed below. By Registered or Certified Mail: Wells Fargo Bank Minnesota, N.A. Attn: Corporate Trust Operations MAC N9303-121 P.O. Box 1517 Minneapolis, MN 55480-1517 If in person, by hand: Wells Fargo Bank Minnesota, N.A. 608 Second Avenue South Corporate Trust Operations, 12th Floor Minneapolis, MN 55402 By Air Courier: Wells Fargo Bank Minnesota, N.A. Attn: Corporate Trust Operations MAC Code: N9303-121 Sixth and Marquette Minneapolis, MN 55479 Wells Fargo policy will not allow its Corporate Trust Services to hold any securities longer than 30 days. Additionally, a $25.00 wire transfer fee will be deducted from each payment requested to be made by wire. When inquiring about this redemption, holders of the Senior Debentures must have the bond number available and must inform the Wells Fargo customer service representative of the CUSIP number. Wells Fargo customer service can be reached at 612/667-9764 or toll free at 800/344-5128. Senior Debentures that are held in "street name" will be notified via the Depository Trust Company Depository Trust Company (DTC) DTC is the world's largest central securities depository. It accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executes book-entry deliveries (valued at over $116 trillion System. CII Financial is a holding company primarily engaged in writing workers' compensation insurance in nine western and mid-western states through its wholly owned subsidiaries, California Indemnity Insurance Co., Commercial Casualty Insurance Co., Sierra Insurance Co. of Texas and CII Insurance Co. CII Financial is a wholly owned subsidiary of Sierra Health Services Inc. (NYSE NYSE See: New York Stock Exchange :SIE SIE Sierra Health (stock symbol) SIE Serial Interface Engine SIE Serviciul de Informatii Externe (Romanian: Intelligence Service for the Exterior) SIE Società Italiana di Endocrinologia ), a diversified health care services company based in Las Vegas. |
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