October 17, 2005
For Immediate Release
Alpine Electronics, Inc.
Notice Concerning Exercise of Call Option on Convertible Bonds.
Alpine Electronics, Inc. ("Alpine" or "the Company") announced on October 17 its decision to exercise its right to prematurely redeem the entire balance of its Second Series of Unsecured Convertible Bonds on November 25, 2005.
This decision is after the requirements for the 130% call option on the aforementioned Second Series of Unsecured Convertible Bonds (with financial covenants that entitle bondholders to an equal claim to collateral) ("the Bonds"), issued on February 14, 2002, provided under Article 8.3 of the Bond Agreement, were met on October 11, 2005 as detailed in a press release dated October 11, 2005.
|Bonds to be Redeemed||Alpine Electronics, Inc. Second Series of Unsecured Convertible Bonds with a 130% call operation (and financial covenants that entitle bondholders to an equal claim to collateral)|
|Amount for Redemption
|\5,369 million (As of October 14, 2005)|
|Redemption Date||November 25, 2005 (Friday)|
|Redemption Amount||\100 per par value of \100|
|Final Conversion Date||November 24, 2005 (Thursday)|
Bondholders have the right to convert their bonds into shares until the final conversion date. Any bondholder wishing to do so, should forward the relevant documents by the final conversion date to the following address:
Transfer Agent Department
Mitsubishi UFJ Trust and Banking Corporation
1-4-5 Marunouchi, Tokyo 100-8212
TEL: 0120-707-696 (free dial)