EX-99.1 4 dex991.htm NEWS RELEASE DATED JUNE 26, 2002 Prepared by R.R. Donnelley Financial -- NEWS RELEASE DATED JUNE 26, 2002
EXHIBIT 99.1
 
[LOGO OF MELLON BANK]
 
       
News Release                    
Contact:    MEDIA:
  
                ANALYSTS:
  
Corporate Affairs              
                  Ken Hertz
  
                Steve Lackey
  
One Mellon Center             
                  (412) 234-0850
  
                (412) 234-5601
  
Pittsburgh, PA 15258-0001
   
                Andy Clark
    
   
                (412) 234-4633
    
 
FOR IMMEDIATE RELEASE
 
 
STATEMENT FROM MELLON FINANCIAL CORP. REGARDING WORLDCOM
 
PITTSBURGH, June 26, 2002—Mellon Financial Corporation’s policy is not to comment on individual borrower relationships, but the Corporation is releasing the following information regarding WorldCom, Inc. in view of apparently inaccurate information circulating in the marketplace.
 
Mellon currently has outstanding $100 million to WorldCom on an unsecured basis under a $2.65 billion, 364-day facility agented by JPMorgan Chase. In addition, Mellon has a $75 million commitment to WorldCom under a $3.75 billion, five-year facility agented by Bank of America. This latter facility by its terms will expire on June 30, 2002. The commitment under this latter facility is undrawn except for less than $1 million under a letter of credit issued at the request of WorldCom. Mellon does not expect any of the undrawn exposure to be drawn prior to expiration of this latter facility. Mellon does not participate in a $1.6 billion, five-year facility agented by Bank of America.            
 
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