KANSAS CITY, Mo., Aug. 21 /PRNewswire-FirstCall/ -- DST Systems, Inc. (the "Company") announces that it will pay contingent interest for the period August 20, 2008 to February 14, 2009 in connection with $300 million aggregate principal amount of 3.625% Series B convertible senior debentures due 2023. The interest obligation arises under the Indenture, dated as of August 12, 2003, because the average trading price of the Series B debentures for the applicable five trading-day reference period exceeded 120% of the accreted principal amount of such debentures. The amount of contingent interest equals 0.19% of the average trading price for the reference period, or $2.55 per $1,000 principal amount of such debentures. The interest payment date is February 17, 2009.
As required by the terms and conditions of the debentures, the Company is issuing a press release for this contingent interest period, and will issue a press release on the interest payment date and in connection with each future period for which it has a contingent interest obligation. This press release does not constitute an offer to purchase or a solicitation of an offer to sell securities. The Company has described the contingent interest terms and conditions and other features of the debentures in its Annual Report on Form 10-K for the year ended December 31, 2007.
The information and comments in this press release may include forward-looking statements respecting DST and its businesses. Such information and comments are based on DST's views as of today, and actual actions or results could differ. There could be a number of factors, risks, uncertainties or contingencies that could affect future actions or results, including but not limited to those set forth in DST's periodic reports (Form 10-K or 10-Q) filed from time to time with the Securities and Exchange Commission. All such factors should be considered in evaluating any forward- looking statements. The Company will not update any forward-looking statements in this press release to reflect future events.
