Citibank to Arrange for Prodigy Financing.Business Editors/Banking/Hi-Tech Writers WHITE PLAINS, N.Y.--(BUSINESS WIRE)---March 14, 2000 Prodigy Communications Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PRGY) announced today it has engaged Citibank N.A., a subsidiary of Citigroup, Inc. (NYSE NYSE See: New York Stock Exchange :C), to arrange for up to $150 million in financing. When completed, the funds will be used to finance cash needs of the company. The financing is expected to be finalized during 2Q 2000. About Prodigy Communications Corporation (www.prodigy.com): Prodigy Communications Corporation is a leading Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. delivering fast and reliable Internet access See how to access the Internet. and user-friendly Internet-based products, services and information resources (1) The data and information assets of an organization, department or unit. See data administration. (2) Another name for the Information Systems (IS) or Information Technology (IT) department. See IT. . Prodigy utilizes a nationwide network covering more than 750 cities in all 50 states allowing 90% of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. population to access the Prodigy Internet(R) service with a local telephone call. Prodigy tailors its services and technology to three fast-growing Internet markets: consumers, small business owners and the U.S. Hispanic population. Prodigy Biz Corporation, one of the largest small business Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. companies in the U.S., offers a powerful suite of specially-designed Internet products and services for small businesses. Prodigy(R) en espanol, the first-ever, fully-bilingual Internet service, is a 100% Spanish-language Internet service created for the nation's Spanish speaking population. This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the expected benefits from the potential agreement with Citibank or its early termination, intense competition in the Company's industry, subscriber turnover, disruption in the Company's network services or in other services provided by third parties, as well as the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission. |
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