To: SMALL FRY who wrote (89158 ) 3/20/2000 8:53:00 AM From: Gabriel Respond to of 120523
Monday March 20, 7:00 am Eastern Time Company Press Release Critical Path To Offer $250 Million Subordinated Notes SAN FRANCISCO--(BUSINESS WIRE)--March 20, 2000--Critical Path, Inc. (Nasdaq: CPTH - news), the dominant global provider of business-to-business Internet messaging and collaboration solutions, today announced its intention to raise approximately $250 million, subject to market and other conditions, through a Rule 144A offering of convertible subordinated notes. The notes will be convertible, at the option of the holder, into shares of Critical Path's common stock and will be non-callable for three years. Critical Path expects to use the net proceeds for general corporate purposes. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The notes will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under such act. About Critical Path, Inc. Critical Path, Inc. (Nasdaq: CPTH - news) is the dominant global provider of complete end-to-end Internet messaging and collaboration solutions for corporations, Internet service providers (ISPs), Web hosting companies and Web portals. Through its Allsourcing strategy, Critical Path is the only advanced messaging provider to offer businesses the flexibility to outsource, midsource or insource all or part of their messaging and collaboration applications. Critical Path has built an industry-leading global infrastructure with data centers connected to key Internet exchange points and currently reaches more than 55 million end-users through its customer relationships. Critical Path provides reliable, secure, and scalable e-mail and a flexible suite of enhanced messaging services to partners such as E*TRADE, CompuServe, Network Solutions, U S West, Sprint, France Telecom, British Telecommunications, and ICQ. Critical Path is headquartered in San Francisco, with offices in locations nationwide and in Germany, England, Ireland, France, Denmark, Italy, Switzerland, and Argentina. More information on Critical Path can be found at www.cp.net. Critical Path and the Critical Path logo are the trademarks of Critical Path, Inc. All other trademarks are the property of their holders. NOTE TO EDITORS: The Name E*TRADE should appear with an asterisk between `E' and `TRADE'. This symbol may not transmit properly in all systems. -------------------------------------------------------------------------------- Contact: Critical Path, San Francisco Stefanie Elkins, 415/344-5503 selkins@cp.net