NEW YORK, March 23, 2004 (PRIMEZONE) -- Parker & Waichman (www.worldcomstockfraud.com) expects that shares of MCI WorldCom (Other OTC:WCOEQ) (Other OTC:MCWEQ) (Other OTC:MCIAV) trading under the ticker symbols WCOEQ and MCWEQ will likely be cancelled some time within the next five weeks. Earlier this month MCI WorldCom announced that it expects to emerge from bankruptcy by the end April. When MCI WorldCom emerges from bankruptcy it is likely that shares trading under the symbols WCOEQ and MCWEQ will be cancelled, leaving these shareholders with little or no value. Parker & Waichman continues to encourage all current and former MCI WorldCom shareholders and employees to evaluate their legal options by visiting: (http://www.worldcomstockfraud.com) and (http://www.worldcomemployeelawsuit.com).
Parker & Waichman and affiliated counsel have been retained by additional MCI WorldCom shareholders and employees who were previously unaware that these shares would likely be cancelled. To date, Parker & Waichman and affiliated counsel represent over 3000 current and former MCI and WorldCom shareholders. Parker & Waichman continues to believe that many shareholders may benefit from opting out of the class action to pursue individual claims. The previous February 20, 2004 opt-out deadline has been extended - no new opt-out deadline has been announced by the court. Parker & Waichman will publish the new opt-out deadline on its websites as soon as it becomes available. Current and former WorldCom and MCI shareholders and employees can visit: (http://www.worldcomstockfraud.com) to view and download the WorldCom class action opt-out form entitled, "Notice of Class Action".
In February, MCI WorldCom filed an extension to emerge from bankruptcy sixty days after its scheduled February 28, 2004 deadline. When MCI WorldCom does emerge from bankruptcy, it is likely that the Company will issue new "post-bankruptcy" shares of stock. These shares are currently trading on a "when issued" basis under the symbol WCIAV. It is unlikely that existing MCI WorldCom shareholders will benefit significantly from the issuance of these new shares.
For more information on Parker & Waichman, LLP please visit: (http://www.yourlawyer.com) or call 1-800-LAW-INFO. Current and former shareholders are also encouraged to visit: (http://www.injurytalk.com).