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EXHIBIT 99.1
LETTER OF TRANSMITTAL
BOYD GAMING CORPORATION
$200,000,000
OFFER TO EXCHANGE
9 1/4% SENIOR NOTES DUE 2009,
WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
FOR ANY AND ALL OUTSTANDING 9 1/4% SENIOR NOTES DUE 2009
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PURSUANT TO THE PROSPECTUS DATED , 2001
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THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON
, 2001, UNLESS EXTENDED (SUCH TIME AND DATE, AS THE SAME MAY BE
EXTENDED FROM TIME TO TIME, THE "EXPIRATION DATE"). TENDERS MAY BE WITHDRAWN AT
ANY TIME PRIOR TO THE EXPIRATION DATE.
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The Exchange Agent is:
THE BANK OF NEW YORK
<Table>
BY REGISTERED OR CERTIFIED MAIL, FOR ADDITIONAL
HAND OR OVERNIGHT DELIVERY: INFORMATION:
The Bank of New York FACSIMILE TRANSACTIONS: The Bank of New York
101 Barclay Street (212) 815-6339 Santino Ginocchietti
Bond Redemption Unit 101 Barclay Street, 21W
Lobby Level TO CONFIRM BY TELEPHONE: New York, NY 10286
New York, NY 10286 (212) 815-6331 (212) 815-6331
Attention: Santino Ginocchietti
</Table>
DELIVERY OF THIS LETTER OF TRANSMITTAL TO AN ADDRESS OTHER THAN AS SET
FORTH ABOVE OR TRANSMISSION TO A FACSIMILE NUMBER OTHER THAN THE ONE LISTED
ABOVE WILL NOT CONSTITUTE VALID DELIVERY TO THE EXCHANGE AGENT.
THE INSTRUCTIONS SET FORTH IN THIS LETTER OF TRANSMITTAL SHOULD BE READ
CAREFULLY BEFORE THIS LETTER OF TRANSMITTAL IS COMPLETED.
By execution hereof, the undersigned acknowledges receipt of the prospectus
dated , 2001 (the "Prospectus"), of Boyd Gaming Corporation, a Nevada
corporation (the "Company"), and this letter of transmittal and the instructions
hereto (the "Letter of Transmittal"), which together constitute the Company's
offer to exchange (the "Exchange Offer") an aggregate principal amount of up to
$200 million 9 1/4% senior notes due 2009 that have been registered under the
Securities Act of 1933, as amended (the "Exchange Notes") for any and all
outstanding 9 1/4% senior notes due 2009 that we issued on July 26, 2001 (the
"Old Notes"). Recipients of the Prospectus should read the requirements
described in the Prospectus with respect to eligibility to participate in the
Exchange Offer. Capitalized terms used but not defined herein have the meaning
given to them in the Prospectus.
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PLEASE READ THIS ENTIRE LETTER OF TRANSMITTAL CAREFULLY BEFORE CHECKING ANY
BOX BELOW.
This Letter of Transmittal is to be used by a holder of Old Notes:
- if certificates representing tendered Old Notes are to be forwarded
herewith;
- if a tender of certificates for Old Notes is to be made by book-entry
transfer to the account maintained by the Exchange Agent at the
Depository Trust Company ("DTC") pursuant to the procedures set forth in
the "Exchange Offer" section of the Prospectus; or
- if a tender is made pursuant to the guaranteed delivery procedures in the
section of the Prospectus entitled "The Exchange Offer -- Guaranteed
Delivery Procedures."
Holders of Old Notes that are tendering by book-entry transfer to the
account maintained by the Exchange Agent at DTC can execute the tender through
the Automated Tender Offer Program ("ATOP") for which the Exchange Offer will be
eligible. DTC participants that are accepting the Exchange Offer must transmit
their acceptance to DTC which will verify the acceptance and execute a
book-entry delivery to the Exchange Agent's account at DTC. DTC will then send
an agent's message forming part of a book-entry transfer in which the
participant agrees to be bound by the terms of the Letter of Transmittal (an
"Agent's Message") to the Exchange Agent for its acceptance.
In order to properly complete this Letter of Transmittal, a holder of Old
Notes must:
- complete the box entitled, "Description of Old Notes Tendered;"
- if appropriate, check and complete the boxes relating to book-entry
transfer, guaranteed delivery, Special Issuance Instructions and Special
Delivery Instructions;
- sign the Letter of Transmittal by completing the box entitled "Sign Here
to Tender Your Old Notes in the Exchange Offer;" and
- complete the substitute Form W-9.
Each holder of Old Notes should carefully read the detailed instructions
below prior to completing the Letter of Transmittal.
Holders of Old Notes who desire to tender their Old Notes for exchange,
but:
- such holder's Old Notes are not immediately available;
- such holder cannot deliver their Old Notes, this Letter of Transmittal
and all other documents required hereby to the Exchange Agent; or
- such holder cannot complete the procedures for book-entry transfer on or
prior to the Expiration Date,
must tender the Old Notes pursuant to the guaranteed delivery procedures set
forth in the section of Prospectus entitled "The Exchange Offer -- Guaranteed
Delivery Procedures." See Instruction 2.
DELIVERY OF DOCUMENTS TO DTC DOES NOT CONSTITUTE DELIVERY TO THE EXCHANGE
AGENT. IN ORDER TO ENSURE PARTICIPATION IN THE EXCHANGE OFFER, OLD NOTES MUST BE
PROPERLY TENDERED PRIOR TO THE EXPIRATION DATE.
Holders of Old Notes who wish to tender their Old Notes for exchange must
complete columns (1) through (3) in the box below entitled "Description of Old
Notes Tendered," and sign the box below entitled "Sign Here to Tender Your Old
Notes in the Exchange Offer." If only those columns are completed, such holder
of Old Notes will have tendered for exchange all Old Notes listed in column (3)
below. If the holder of Old Notes wishes to tender for exchange less than all of
such Old Notes, column (4) must be completed in full. In such case, such holder
of Old Notes should refer to Instruction 5.
The Exchange Offer may be extended, terminated or amended, as provided in
the Prospectus. During any such extension of the Exchange Offer, all Old Notes
previously tendered and not validly withdrawn pursuant to the Exchange Offer
will remain subject to such Exchange Offer.
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The undersigned hereby tenders for exchange the Old Notes described in the
box entitled "Description of Old Notes Tendered" below pursuant to the terms and
conditions described in the Prospectus and this Letter of Transmittal.
<Table>
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DESCRIPTION OF OLD NOTES TENDERED
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(1) (2) (3) (4)
AGGREGATE PRINCIPAL PRINCIPAL AMOUNT
NAME(S) AND ADDRESS(ES) OF REGISTERED OWNER(S) CERTIFICATE AMOUNT REPRESENTED BY TENDERED FOR EXCHANGE
(PLEASE FILL IN, IF BLANK) NUMBER(S) CERTIFICATE(S)(A) (IF LESS THAN ALL)(B)
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TOTAL PRINCIPAL AMOUNT OF OLD NOTES TENDERED
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</Table>
(A) Unless otherwise indicated in this column, any tendering holder will be
deemed to have tendered the entire principal amount represented by the
Old Notes indicated in the column labeled "Aggregate Principal Amount
Represented by Certificate(s)."
(B) The minimum permitted tender is $1,000 in principal amount of Old
Notes. All other tenders must be integral multiples of $1,000. See
Instruction 5.
[ ] CHECK HERE IF TENDERED OLD NOTES ARE ENCLOSED HEREWITH.
[ ] CHECK HERE IF TENDERED OLD NOTES ARE BEING DELIVERED BY DTC TO THE EXCHANGE
AGENT'S ACCOUNT AT DTC AND COMPLETE THE FOLLOWING:
Name of Tendering Institution:
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DTC Book-Entry Number:
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Transaction Code Number:
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[ ] CHECK HERE IF TENDERED OLD NOTES ARE BEING DELIVERED PURSUANT TO A NOTICE OF
GUARANTEED DELIVERY AND COMPLETE THE FOLLOWING (FOR USE BY ELIGIBLE
INSTITUTIONS ONLY):
Name(s) of Registered Holders:
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Window Ticket Number (if any):
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Date of Execution of Notice of Guaranteed Delivery:
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Name of Eligible Institution (as defined below) that Guaranteed Delivery:
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Name of Tendering Institution:
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DTC Book-Entry Number:
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Transaction Code Number:
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[ ] CHECK HERE IF YOU ARE A BROKER-DEALER WHO HOLDS OLD NOTES ACQUIRED FOR YOUR
OWN ACCOUNT AS A RESULT OF MARKET-MAKING OR OTHER TRADING ACTIVITIES AND
WISH TO RECEIVE COPIES OF THE PROSPECTUS AND COPIES OF ANY AMENDMENTS OR
SUPPLEMENTS THERETO FOR USE IN CONNECTION WITH RESALES OF EXCHANGE NOTES
RECEIVED FOR YOUR OWN ACCOUNT IN EXCHANGE FOR SUCH OLD NOTES.
Name:
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Address:
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Aggregate Principal Amount of Old Notes so Held:
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Only registered holders are entitled to tender their Old Notes for exchange
in the Exchange Offer. Any financial institution that is a participant in DTC's
system and whose name appears on a security position listing as the record owner
of the Old Notes and who wishes to make book-entry delivery of Old Notes as
described above must complete and execute a participant's letter (which will be
distributed to participants by DTC) instructing DTC's nominee to tender such Old
Notes for exchange.
Persons who are beneficial owners of Old Notes but are not registered
holders and who seek to tender Old Notes should:
- promptly contact the registered holder of such Old Notes and instruct
such registered holder to tender on his or her behalf;
- obtain and include with this Letter of Transmittal, Old Notes properly
endorsed for transfer by the registered holder or accompanied by a
properly completed bond power from the registered holder, with signatures
on the endorsement or bond power guaranteed by a bank, broker, dealer,
credit union, savings association, clearing agency or other institution,
each an "Eligible Institution" that is a member of a recognized signature
guarantee medallion program within the meaning of Rule 17Ad-15 under the
Exchange Act; or
- effect a record transfer of such Old Notes from the registered holder to
such beneficial owner and comply with the requirements applicable to
registered holders for tendering Old Notes prior to the Expiration Date.
See the section entitled "The Exchange Offer -- Procedures for Tendering
Old Notes" in the Prospectus.
SIGNATURES MUST BE PROVIDED BELOW.
PLEASE READ THE ACCOMPANYING INSTRUCTIONS CAREFULLY.
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Ladies and Gentlemen:
Upon the terms and subject to the conditions of the Exchange Offer, the
undersigned hereby tenders to the Company for exchange the aggregate principal
amount of Old Notes indicated in this Letter of Transmittal. Subject to, and
effective upon, the acceptance for exchange of the Old Notes tendered herewith,
the undersigned hereby sells, assigns, transfers and exchanges to, or upon the
order of, the Company all right, title and interest in and to all such Old Notes
tendered for exchange hereby. The undersigned hereby irrevocably constitutes and
appoints the Exchange Agent as the true and lawful agent and attorney-in-fact of
the undersigned (with full knowledge that the Exchange Agent also acts as agent
of the Company) with respect to such Old Notes, with full power of substitution
and resubstitution (such power of attorney being deemed to be an irrevocable
power coupled with an interest) to:
- deliver such Old Notes in registered certificated form, or transfer
ownership of such Old Notes through book-entry transfer at the book-entry
transfer facility, to or upon the order of the Company, upon receipt by
the Exchange Agent, as the undersigned's Agent, of the same aggregate
principal amount of the Exchange Notes;
- present and deliver such Old Notes for transfer on the books of the
Company; and
- receive all benefits or otherwise exercise all rights and incidents of
beneficial ownership of such Old Notes, all in accordance with the terms
of the Exchange Offer.
The undersigned represents and warrants that it has full power and
authority to tender, sell, assign, exchange, and transfer the Old Notes tendered
hereby and that the Company will acquire good, marketable and unencumbered title
to the tendered Old Notes, free and clear of all security interests, liens,
restrictions, charges and encumbrances, conditional sale agreements or other
obligations relating to their sale or transfer, and not subject to any adverse
claim when the same are accepted by the Company. The undersigned also warrants
that it will, upon request, execute and deliver any additional documents deemed
by the Exchange Agent or the Company to be necessary or desirable to complete
the exchange, assignment and transfer of tendered Old Notes or transfer
ownership of such Old Notes on the account books maintained by the book-entry
transfer facility. The undersigned further agrees that acceptance of any and all
validly tendered Old Notes by the Company and the issuance of Exchange Notes in
exchange therefor shall constitute performance in full by the Company of its
obligations under the registration rights agreement entered into with the
initial purchasers named therein on July 26, 2001 (the "Registration Rights
Agreement").
By tendering, each holder of Old Notes represents that:
- the Exchange Notes to be acquired in connection with the Exchange Offer
by the holder and each beneficial owner of the Old Notes are being
acquired by the holder and each beneficial owner in the ordinary course
of business of the holder and each beneficial owner;
- the holder and each beneficial owner are not participating, do not intend
to participate, and have no arrangement or understanding with any person
to participate, in the distribution of the Exchange Notes;
- the holder and each beneficial owner acknowledge and agree that any
person participating in the Exchange Offer for the purpose of
distributing the Exchange Notes must comply with the registration and
prospectus delivery requirements of the Securities Act in connection with
a secondary resale transaction of the Exchange Notes acquired by such
person and cannot rely on the position of the staff of the Commission set
forth in the applicable no-action letters; see "The Exchange
Offer -- Resales of Exchange Notes" in the Prospectus;
- that if the holder is a broker-dealer that acquired Old Notes as a result
of market making or other trading activities, it will deliver a
Prospectus in connection with any resale of Exchange Notes acquired in
the Exchange Offer;
- the holder and each beneficial owner understand that a secondary resale
transaction described above should be covered by an effective
registration statement containing the selling security holder information
required by Item 507 or 508, as applicable, of Regulation S-K of the
Securities and Exchange Commission (the "Commission");
- neither the holder nor any beneficial owner is an "affiliate," as defined
under Rule 144 of the Securities Act, of ours; and
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- in connection with a book-entry transfer, each participant will confirm
that it makes the representations and warranties set forth in this Letter
of Transmittal.
The undersigned has read and agrees to all of the terms of the Exchange Offer.
The undersigned also acknowledges that the Company is making this Exchange
Offer in reliance on the position of the staff of the Securities and Exchange
Commission (the "Commission"), as set forth in certain interpretive letters
issued to third parties in other transactions. Based on the Commission
interpretations, the Company believes that the Exchange Notes issued in exchange
for the Old Notes pursuant to the Exchange Offer may be offered for resale,
resold and otherwise transferred by holders thereof (other than a broker-dealer
who purchased Old Notes directly from the Company for resale pursuant to Rule
144A under the Securities Act or any other available exemption under the
Securities Act or any such holder that is an "affiliate" of the Company within
the meaning of Rule 405 under the provisions of the Securities Act) without
further compliance with the registration and prospectus delivery provisions of
the Securities Act; provided that such Exchange Notes are acquired in the
ordinary course of such holders' business and such holders are not engaged in,
and do not intend to engage in, a distribution of such Exchange Notes and have
no arrangement with any person to participate in the distribution of such
Exchange Notes. However, the Company does not intend to request the Commission
to consider, and the Commission has not considered, the Exchange Offer in the
context of an interpretive letter, and there can be no assurance that the staff
of the Commission would make a similar determination with respect to the
Exchange Offer as in other circumstances.
If the undersigned is not a broker-dealer, the undersigned represents that
it is not engaged in, and does not intend to engage in, a distribution of
Exchange Notes and has no arrangement or understanding to participate in a
distribution of Exchange Notes. If any holder is an affiliate of the Company, is
engaged in or intends to engage in or has any arrangement or understanding with
respect to the distribution of the Exchange Notes to be acquired pursuant to the
Exchange Offer, such holder (i) could not rely on the applicable interpretations
of the staff of the Commission and (ii) must comply with the registration and
prospectus delivery requirements of the Securities Act in connection with any
resale transaction. If the undersigned is a broker-dealer holding Old Notes that
were acquired for its own account as a result of market-making activities or
other trading activities, it acknowledges that it will deliver a prospectus
meeting the requirements of the Securities Act in connection with any resale of
Exchange Notes received in respect of such Old Notes pursuant to the Exchange
Offer, however, by so acknowledging and by delivering a prospectus in connection
with the exchange of Old Notes, the undersigned will not be deemed to admit that
it is an "underwriter" within the meaning of the Securities Act. By its
acceptance of the Exchange Offer, any broker-dealer that receives Exchange Notes
pursuant to the Exchange Offer agrees to notify the Company before using the
Prospectus in connection with the sale or transfer of Exchange Notes.
The Company has agreed that, subject to the provisions of the Registration
Rights Agreement, the Prospectus, as it may be amended or supplemented from time
to time, may be used by a broker-dealer in connection with resales of Exchange
Notes received in exchange for Old Notes which were acquired by such
broker-dealer for its own account as a result of market-making or other trading
activities, for a period ending 180 days after the Expiration Date or, if
earlier, when all such Exchange Notes have been disposed of by such
broker-dealer. In that regard, each broker-dealer by tendering such Old Notes
and executing this Letter of Transmittal, agrees that, upon receipt of notice
from the Company of the occurrence of any event or the discovery of any fact
which makes any statement contained or incorporated by reference in the
Prospectus untrue in any material respect or which causes the Prospectus to omit
to state a material fact necessary in order to make the statements contained or
incorporated by reference therein, in light of the circumstances under which
they were made, not misleading, such broker-dealer will suspend the sale of
Exchange Notes pursuant to the Prospectus until the Company has amended or
supplemented the Prospectus to correct such misstatement or omission and has
furnished copies of the amended or supplemented Prospectus to the broker-dealer
or the Company has given notice that the sale of the Exchange Notes may be
resumed, as the case may be. If the Company gives such notice to suspend the
sale of the Exchange Notes, it shall extend the 180-day period referred to above
during which broker-dealers are entitled to use the Prospectus in connection
with the resale of Exchange Notes by the number of days during the period from
and including the date of the giving of such notice to and including the date
when broker-dealers shall have received copies of the supplemented or amended
Prospectus necessary to permit resales of the Exchange Notes or to and including
the date on which the Company has given notice that the sale of Exchange Notes
may be resumed, as the case may be.
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All authority conferred or agreed to be conferred pursuant to this Letter
of Transmittal and every obligation of the undersigned hereunder shall be
binding upon the successors, assigns, heirs, executors, administrators, trustees
in bankruptcy, and personal and legal representatives of the undersigned and
shall not be affected by, and shall survive, the death or incapacity of the
undersigned. Old Notes properly tendered may be withdrawn at any time prior to
the Expiration Date in accordance with the terms of this Letter of Transmittal.
The Exchange Offer is subject to certain conditions, each of which may be
waived or modified by the Company, in whole or in part, at any time and from
time to time, as described in the Prospectus under the caption "The Exchange
Offer -- Conditions to the Exchange Offer." The undersigned recognizes that as a
result of such conditions the Company may not be required to accept for
exchange, or to issue Exchange Notes in exchange for, any of the Old Notes
properly tendered hereby. In such event, the tendered Old Notes not accepted for
exchange will be returned to the undersigned without cost to the undersigned at
the address shown below the undersigned's signature(s) unless otherwise
indicated under "Special Issuance Instructions" below.
Unless otherwise indicated under "Special Issuance Instructions" below,
please return any certificates representing Old Notes not tendered or not
accepted for exchange in the name(s) of the holders appearing under "Description
of Old Notes Tendered." Similarly, unless otherwise indicated under "Special
Delivery Instructions," please mail any certificates representing Old Notes not
tendered or not accepted for exchange (and accompanying documents as
appropriate) to the address(es) of the holders appearing under "Description of
Old Notes Tendered." In the event that both the "Special Issuance Instructions"
and the "Special Delivery Instructions" are completed, please issue the
certificates representing the Exchange Notes issued in exchange for the Old
Notes accepted for exchange in the name(s) of, and return any Old Notes not
tendered or not accepted for exchange to, the person or persons so indicated.
Unless otherwise indicated under "Special Issuance Instructions," in the case of
a book-entry delivery of Old Notes, please credit the account maintained at DTC
with any Old Notes not tendered or not accepted for exchange. The undersigned
recognizes that the Company does not have any obligation pursuant to the Special
Issuance Instructions, to transfer any Old Notes from the name of the holder
thereof if the Company does not accept for exchange any of the Old Notes so
tendered or if such transfer would not be in compliance with any transfer
restrictions applicable to such Old Notes.
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SPECIAL ISSUANCE INSTRUCTIONS
(SEE INSTRUCTIONS 1, 6, 7 AND 8)
To be completed ONLY if (i) Exchange Notes issued for Old Notes,
certificates for Old Notes in a principal amount not exchanged for Exchange
Notes, or Old Notes (if any) not tendered for exchange are to be issued in the
name of someone other than the undersigned, or (ii) Old Notes tendered by
book-entry transfer which are not exchanged are to be returned by credit to an
account maintained at DTC other than the account indicated above.
Issue to:
Name: ---------------------------------------------------
(PLEASE PRINT)
Address: ------------------------------------------------
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(INCLUDE ZIP CODE)
Taxpayer Identification or Social Security Number:
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Credit Old Notes not exchanged and delivered by book-entry transfer to the
DTC account set forth below:
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(ACCOUNT NUMBER)
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SPECIAL DELIVERY INSTRUCTIONS
(SEE INSTRUCTIONS 1, 6, 7 AND 8)
To be completed ONLY if the Exchange Notes issued for Old Notes,
certificates for Old Notes in a principal amount not exchanged for Exchange
Notes, or Old Notes (if any) not tendered for exchange are to be sent to someone
other than the undersigned or to the undersigned at an address other than that
shown above.
Mail to:
Name: ---------------------------------------------------
(PLEASE PRINT)
Address: ------------------------------------------------
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(INCLUDE ZIP CODE)
Taxpayer Identification or Social Security Number:
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SIGN HERE TO TENDER YOUR OLD NOTES IN THE EXCHANGE OFFER
SIGNATURE(S) OF HOLDERS OF OLD NOTES
<Table>
X Date:
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X Date:
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SIGNATURE OF OWNER
</Table>
This Letter of Transmittal must be signed by the registered holders of Old
Notes exactly as the name(s) appear(s) on certificate(s) representing the Old
Notes or on a security position listing or by person(s) authorized to become
registered holders by certificates and documents transmitted herewith. If
signature is by attorney-in-fact, executor, administrator, trustee, guardian,
officer of a corporation or other person acting in a fiduciary or representative
capacity, please provide the following information and see Instruction 6.
<Table>
Name(s): Address:
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(PLEASE PRINT) (INCLUDE ZIP CODE)
Capacity: Telephone
-------------------------------------------------- Number: ------------------------------------------
(FULL TITLE) (INCLUDE AREA CODE)
</Table>
GUARANTEE OF SIGNATURE(S)
(IF REQUIRED -- SEE INSTRUCTIONS 1 AND 6)
Signature (s) Guaranteed by:
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(AUTHORIZED SIGNATURE)
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(TITLE OF OFFICER SIGNING THIS GUARANTEE)
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(NAME OF ELIGIBLE INSTITUTION GUARANTEEING SIGNATURES -- PLEASE PRINT)
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(ADDRESS AND TELEPHONE NUMBER OF ELIGIBLE INSTITUTION GUARANTEEING SIGNATURES)
Date:
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<Table>
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IMPORTANT: COMPLETE AND SIGN THE SUBSTITUTE FORM W-9
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PAYOR'S NAME: THE BANK OF NEW YORK
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SUBSTITUTE PART 1--PLEASE PROVIDE YOUR TIN IN THE
FORM W-9 BOX AT RIGHT AND CERTIFY BY SIGNING ______________________________
AND DATING BELOW TIN
(Social Security Number or
Employer Identification Number)
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DEPARTMENT OF PART 2--FOR PAYEES EXEMPT FROM BACKUP WITHHOLDING PLEASE WRITE "EXEMPT" HERE (SEE
THE TREASURY INSTRUCTIONS)
INTERNAL
REVENUE SERVICE ________________________________
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PART 3--CERTIFICATION UNDER PENALTIES OF PERJURY, I CERTIFY THAT:
(1) The number shown on this form is my correct TIN (or I am waiting for a number
to be issued to me); and
PAYOR'S REQUEST FOR
TAXPAYER IDENTIFICATION (2) I am not subject to backup withholding because: (a) I am exempt from backup
NUMBER ("TIN") withholding, or (b) I have not been notified by the Internal Revenue Service (the
AND CERTIFICATION "IRS") that I am subject to backup withholding as a result of a failure to
report all interest or dividends or (c) the IRS has notified me that I am no
longer subject to backup withholding.
THE INTERNAL REVENUE SERVICE DOES NOT REQUIRE YOUR CONSENT TO ANY PROVISION OF
THIS DOCUMENT OTHER THAN THE CERTIFICATIONS REQUIRED TO AVOID BACK-UP
WITHHOLDING.
SIGNATURE _________________________________________________
DATE ________________
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</Table>
You must cross out item (2) of Part 3 above if you have been notified by
the IRS that you are currently subject to backup withholding because of
underreporting interest or dividends on your tax return.
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YOU MUST COMPLETE THE FOLLOWING CERTIFICATE IF YOU WROTE
"APPLIED FOR" IN PART 1 OF THE SUBSTITUTE FORM W-9
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CERTIFICATE OF AWAITING TAXPAYER IDENTIFICATION NUMBER
I certify under penalties of perjury that a taxpayer identification number
has not been issued to me, and that I mailed or delivered an application to
receive a taxpayer identification number to the appropriate Internal Revenue
Service Center or Social Security Administrative Office (or I intend to mail or
deliver an application in the near future). I understand that if I do not
provide a taxpayer identification number to the Payor within sixty (60) days,
the Payor is required to withhold 31% of all reportable payments made to me
thereafter until I provide a number.
Signature ______________________________________ Date ______________
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NOTE: FAILURE TO COMPLETE AND RETURN THIS FORM MAY RESULT IN BACKUP WITHHOLDING
OF UP TO 31% OF ANY REPORTABLE PAYMENTS. PLEASE REVIEW THE ENCLOSED
GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION NUMBER ON
SUBSTITUTE FORM W-9 FOR ADDITIONAL DETAILS.
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INSTRUCTIONS
FORMING PART OF THE TERMS AND CONDITIONS OF THE EXCHANGE OFFER
1. GUARANTEE OF SIGNATURES. Signatures on this Letter of Transmittal need
not be guaranteed if:
- tendered Old Notes are registered in the name of the signer of the Letter
of Transmittal, unless such holder has completed either the box entitled
"Special Issuance Instructions" or the box entitled "Special Delivery
Instructions";
- the Exchange Notes to be issued in exchange for the Old Notes are to be
issued in the name of the holder; and
- any untendered Old Notes are to be reissued in the name of the holder.
In any other case:
- the certificates representing the tendered Old Notes must be properly
endorsed for transfer by the registered holder or be accompanied by a
properly completed bond power from the registered holder or appropriate
powers of attorney, in form satisfactory to us;
- the tendered old notes must be duly executed by the holder; and
- signatures on the endorsement, bond power or powers of attorney must be
guaranteed by an Eligible Institution.
If the Exchange Notes and/or Old Notes not exchanged are to be delivered to
an address other than that of the registered holder appearing on the note
registrar for the Old Notes, the signature in the Letter of Transmittal must be
guaranteed by an Eligible Institution.
Persons who are beneficial owners of Old Notes but are not the registered
holder and who seek to tender Old Notes for exchange should:
- promptly contact the registered holder of such Old Notes and instruct
such registered holders to tender on his or her behalf;
- obtain and include with this Letter of Transmittal, Old Notes properly
endorsed for transfer by the registered holder or accompanied by a
properly completed bond power from the registered holder, with signatures
on the endorsement or bond power guaranteed by an Eligible Institution;
or
- effect a record transfer of such Old Notes from the registered holder to
such beneficial owner and comply with the requirements applicable to
registered holders for tendering Old Notes prior to the Expiration Date.
See Instruction 6.
DO NOT SEND THIS LETTER OF TRANSMITTAL OR ANY OLD NOTES TO THE COMPANY.
2. DELIVERY OF THIS LETTER OF TRANSMITTAL AND CERTIFICATES FOR OLD NOTES
OR BOOK-ENTRY CONFIRMATIONS; GUARANTEED DELIVERY PROCEDURES. This Letter of
Transmittal is to be completed by registered holders if certificates
representing Old Notes are to be forwarded herewith. All physically delivered
Old Notes, as well as a properly completed and duly executed Letters of
Transmittal (or manually signed facsimiles thereof) and any other required
documents, must be received by the Exchange Agent at its address set forth on
the cover of this Letter of Transmittal prior to the Expiration Date or the
tendering holder must comply with the guaranteed delivery procedures set forth
below. Delivery of the documents to DTC does not constitute delivery to the
Exchange Agent.
THE METHOD OF DELIVERY OF THIS LETTER OF TRANSMITTAL, OLD NOTES AND ALL
OTHER REQUIRED DOCUMENTS TO THE EXCHANGE AGENT IS AT THE ELECTION AND RISK OF
THE HOLDER THEREOF. IF SUCH DELIVERY IS BY MAIL, IT IS SUGGESTED THAT HOLDERS
USE PROPERLY INSURED REGISTERED MAIL, RETURN RECEIPT REQUESTED, AND THAT THE
MAILING BE SUFFICIENTLY IN ADVANCE OF THE EXPIRATION DATE, TO PERMIT DELIVERY TO
THE EXCHANGE AGENT PRIOR TO SUCH DATE. EXCEPT AS OTHERWISE PROVIDED BELOW, THE
DELIVERY WILL BE DEEMED MADE WHEN ACTUALLY RECEIVED OR CONFIRMED BY THE EXCHANGE
AGENT. THIS LETTER OF TRANSMITTAL AND OLD NOTES TENDERED FOR EXCHANGE SHOULD BE
SENT ONLY TO THE EXCHANGE AGENT, NOT TO THE COMPANY.
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If a holder desires to tender Old Notes pursuant to the Exchange Offer and
such holder's Old Notes are (i) not immediately available; (ii) such holder
cannot deliver their Old Notes, this Letter of Transmittal and all other
documents required hereby to the Exchange Agent prior to the Expiration Date; or
(iii) such holder cannot complete the procedures for book-entry transfer on or
prior to the Expiration Date, such holder may effect a tender of such Old Notes
in accordance with the guaranteed delivery procedures set forth in the
Prospectus under "The Exchange Offer -- Guaranteed Delivery Procedures."
Pursuant to the guaranteed delivery procedures:
- your tender of Old Notes must be made by or through an Eligible
Institution and you must properly complete and duly execute a Notice of
Guaranteed Delivery;
- on or prior to the Expiration Date, the Exchange Agent must have received
from you and the Eligible Institution a properly completed and duly
executed Notice of Guaranteed Delivery (by facsimile transmission, mail
or hand delivery) setting forth the name and address of the holder, the
certificate number or numbers of the tendered Old Notes, and the
principal amount of tendered Old Notes, stating that the tender is being
made thereby and guaranteeing that, within three (3) business days after
the date of delivery of the Notice of Guaranteed Delivery, the tendered
Old Notes, a duly executed Letter of Transmittal and any other required
documents will be deposited by the Eligible Institution with the Exchange
Agent; and
- such properly completed and executed documents required by the Letter of
Transmittal and the tendered Old Notes in proper form for transfer (or
confirmation of a book-entry transfer of such Old Notes into the Exchange
Agent's account at DTC) must be received by the Exchange Agent within
three (3) business days after the Expiration Date.
Any holder who wishes to tender their Old Notes pursuant to the guaranteed
delivery procedures described above must ensure that the exchange agent receives
the notice of guaranteed delivery relating to such Old Notes prior to 5:00 p.m.,
New York City time, on the Expiration Date.
Unless Old Notes being tendered by the above-described method are deposited
with the Exchange Agent, a tender will be deemed to have been received as of the
date when the tendering holder's properly completed and duly signed Letter of
Transmittal, or a properly transmitted agent's message, accompanied by the Old
Notes or a confirmation of book-entry transfer of the Old Notes into the
Exchange Agent's account at the book-entry transfer facility is received by the
Exchange Agent.
Issuances of Exchange Notes in exchange for Old Notes tendered pursuant to
a notice of guaranteed delivery will be made only against deposit of this Letter
of Transmittal and any other required documents and the tendered Old Notes or a
confirmation of book-entry and an agent's message.
All tendering holders, by execution of this Letter of Transmittal, waive
any right to receive any notice of the acceptance of their Old Notes for
exchange.
3. INADEQUATE SPACE. If the space provided in the box entitled
"Description of Old Notes Tendered" above is inadequate, the certificate numbers
and principal amounts of Old Notes tendered should be listed on a separate
signed schedule affixed hereto.
4. WITHDRAWAL OF TENDERS. A tender of Old Notes may be withdrawn at any
time prior to the Expiration Date by delivery of written or facsimile (receipt
confirmed by telephone) notice of withdrawal to the Exchange Agent at the
address set forth on the cover of this Letter of Transmittal. To be effective, a
notice of withdrawal must:
- specify the name of the person having tendered the Old Notes to be
withdrawn (the "Depositor");
- identify the Old Notes to be withdrawn (including the certificate number
or numbers and principal amount of such Old Notes);
- specify the principal amount of Old Notes to be withdrawn;
- include a statement that such holder is withdrawing his or her election
to have such Old Notes exchanged;
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- be signed by the holder in the same manner as the original signature on
the Letter of Transmittal by which such Old Notes were tendered or as
otherwise described above (including any required signature guarantees)
or be accompanied by documents of transfer sufficient to have the trustee
under the Indenture register the transfer of such Old Notes into the name
of the person withdrawing the tender; and
- specify the name in which any such Old Notes are to be registered, if
different from that of the Depositor.
The Exchange Agent will return the properly withdrawn Old Notes promptly
following receipt of notice of withdrawal. If Old Notes have been tendered
pursuant to the procedure for book-entry transfer, any notice of withdrawal must
specify the name and number of the account at the book-entry transfer facility.
All questions as to the validity of notices of withdrawals, including, time of
receipt, will be determined by the Company and such determination will be final
and binding on all parties.
Any Old Notes so withdrawn will be deemed not to have been validly tendered
for exchange for purposes of the Exchange Offer. Any Old Notes which have been
tendered for exchange but which are not exchanged for any reason will be
returned to the holder thereof without cost to such holder (or, in the case of
Old Notes tendered by book-entry transfer into the Exchange Agent's account at
the book-entry transfer facility pursuant to the book-entry transfer procedures
described above, such Old Notes will be credited to an account with such
book-entry transfer facility specified by the holder) as soon as practicable
after withdrawal, rejection of tender or termination of the Exchange Offer.
Properly withdrawn Old Notes may be retendered by following one of the
procedures described under the caption "The Exchange Offer -- Procedures for
Tendering Old Notes" in the Prospectus at any time prior to the Expiration Date.
5. PARTIAL TENDERS (NOT APPLICABLE TO HOLDERS OF OLD NOTES THAT TENDER BY
BOOK-ENTRY TRANSFER). Tenders of Old Notes will be accepted only in integral
multiples of $1,000 principal amount. If a tender for exchange is to be made
with respect to less than the entire principal amount of any Old Notes, fill in
the principal amount of Old Notes which are tendered for exchange in column (4)
of the box entitled "Description of Old Notes Tendered," as more fully described
in the footnotes thereto. In the case of a partial tender for exchange, a new
certificate, in fully registered form, for the remainder of the principal amount
of the Old Notes, will be sent to the holders of Old Notes unless otherwise
indicated in the boxes entitled "Special Issuance Instructions" or "Special
Delivery Instructions" above, as soon as practicable after the expiration or
termination of the Exchange Offer.
6. SIGNATURES ON THIS LETTER OF TRANSMITTAL; BOND POWERS AND
ENDORSEMENTS. If this Letter of Transmittal is signed by the registered holder
of the Old Notes tendered for exchange hereby, the signature(s) must correspond
exactly with the name(s) as written on the face of the certificate(s) without
alteration, enlargement or any change whatsoever.
If any of the Old Notes tendered hereby are owned of record by two or more
joint owners, all such owners must sign this Letter of Transmittal. If any
tendered Old Notes are registered in different names on several certificates, it
will be necessary to complete, sign and submit as many separate copies of this
Letter of Transmittal and any necessary or required documents as there are names
in which certificates are held.
If this Letter of Transmittal or any certificates or bond powers are signed
by trustees, executors, administrators, guardians, attorneys-in-fact, officers
of corporations or others acting in a fiduciary or representative capacity, such
persons should so indicate when signing, and proper evidence satisfactory to the
Company of their authority so to act must be submitted, unless waived by the
Company.
If this Letter of Transmittal is signed by the registered holder of the Old
Notes listed and transmitted hereby, no endorsements of certificates or separate
bond powers are required unless certificates for Old Notes not tendered or not
accepted for exchange are to be issued or returned in the name of a person other
than for the registered holder thereof. Signatures on such certificates must be
guaranteed by an Eligible Institution (unless signed by an Eligible
Institution).
If this Letter of Transmittal is signed by a person other than the
registered holder of the Old Notes, the certificates representing such Old Notes
must be properly endorsed for transfer by the registered holder or be
accompanied by a properly completed bond power from the registered holder or
appropriate powers of attorney, in any case signed by such registered holder
exactly as the name(s) of the registered holder of the Old Notes appear(s) on
the certificates. Signatures on the endorsement or bond power must be guaranteed
by an Eligible Institution (unless signed by an Eligible Institution).
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7. TRANSFER TAXES. Except as set forth in this Instruction 7, the Company
will pay or cause to be paid any transfer taxes applicable to the exchange of
the Old Notes pursuant to the Exchange Offer. If, however, a transfer tax is
imposed for any reason other than the exchange of Old Notes pursuant to the
Exchange Offer, then the amount of any transfer taxes (whether imposed on the
registered holders or any other persons) will be payable by the tendering
holder. If satisfactory evidence of the payment of such taxes or exemptions
therefrom is not submitted with this Letter of Transmittal, the amount of such
transfer taxes will be billed directly to such tendering holder.
8. SPECIAL ISSUANCE AND DELIVERY INSTRUCTIONS. Tendering holders of Old
Notes should indicate in the applicable box the name and address to which the
Exchange Notes issued pursuant to the Exchange Offer and any substitute
certificates evidencing the Old Notes not exchanged are to be issued or sent, if
different from the name or address of the person signing this Letter of
Transmittal. In the case of issuance in a different name, the Employer
Identification or Social Security Number of the person named must also be
indicated. A holder of Old Notes tendering Old Notes by book-entry transfer may
request that the Exchange Notes and the Old Notes not exchanged be credited to
such account maintained at the DTC as such holder of Old Notes may designate. If
no such instructions are given, such Exchange Notes and Old Notes not exchanged
will be returned to the name or address of the person signing this Letter of
Transmittal or credited to the account listed beneath the box entitled
"Description of Old Notes."
9. IRREGULARITIES. All questions as to the forms of all documents and the
validity of (including time of receipt) and acceptance of the tenders and
withdrawals of Old Notes will be determined by the Company, in its sole
discretion, which determination shall be final and binding. The Company reserves
the absolute right to reject any or all tenders of Old Notes that are not in
proper form or the acceptance of which would, in the Company's opinion or the
judgment of the Company's counsel, be unlawful. The Company also reserves the
right to waive any defects, irregularities or conditions of tender as to
particular Old Notes. The Company's interpretations of the terms and conditions
of the Exchange Offer (including the instructions in this Letter of Transmittal)
will be final and binding. Any defect or irregularity in connection with tenders
of Old Notes must be cured within such time as the Company determines, unless
waived by the Company. Tenders of Old Notes shall not be deemed to have been
made until all defects or irregularities have been waived by the Company or
cured. Neither the Company, the Exchange Agent, nor any other person will be
under any duty to give notice of any defects or irregularities in tenders of Old
Notes, or will incur any liability to registered holders of Old Notes for
failure to give such notice.
10. WAIVER OF CONDITIONS. To the extent permitted by applicable law, the
Company reserves the right to waive any and all conditions to the Exchange Offer
as described under "The Exchange Offer -- Conditions to the Exchange Offer" in
the Prospectus, and accept for exchange any Old Notes tendered.
11. TAX IDENTIFICATION NUMBER AND BACKUP WITHHOLDING. Federal income tax
law generally requires that a holder of Old Notes whose tendered Old Notes are
accepted for exchange or such holder's assignee (in either case, the "Payee"),
provide the Exchange Agent (the "Payor") with such Payee's correct Taxpayer
Identification Number ("TIN"), which, in the case of a Payee who is an
individual, is such Payee's social security number. If the Payor is not provided
with the correct TIN or an adequate basis for an exemption, such Payee may be
subject to a $50 penalty imposed by the Internal Revenue Service and payments
made with respect to the Old Notes may be subject to backup withholding in an
amount of up to 31%. If withholding results in an overpayment of taxes, a refund
may be obtained.
To prevent backup withholding, each Payee must provide such Payee's correct
TIN by completing the "Substitute Form W-9" set forth herein, certifying that
the TIN provided is correct (or that such Payee is awaiting a TIN) and that:
- the Payee is exempt from backup withholding;
- the Payee has not been notified by the Internal Revenue Service that such
Payee is subject to backup withholding as a result of a failure to report
all interest or dividends; or
- the Internal Revenue Service has notified the Payee that such Payee is no
longer subject to backup withholding.
If the Payee does not have a TIN, such Payee should consult the enclosed
Guidelines for Certification of Taxpayer Identification Number on Substitute
Form W-9 (the "W-9 Guidelines") for instructions on applying for a TIN, write
"Applied For" in the space for the TIN in Part 1 of the Substitute Form W-9, and
sign and date the Substitute Form W-9 and the Certificate of Awaiting Taxpayer
Identification Number set forth herein. If the Payee does not provide such
Payee's TIN to the Payor within sixty (60) days, backup withholding will begin
and continue until such Payee furnishes
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such Payee's TIN to the Payor. Note: Writing "Applied For" on the form means
that the Payee has already applied for a TIN or that such Payee intends to apply
for one in the near future.
If Old Notes are held in more than one name or are not in the name of the
actual owner, consult the W-9 Guidelines for information on which TIN to report.
Exempt Payees (including, among others, all corporations and certain
foreign individuals) are not subject to these backup withholding and reporting
requirements. To prevent possible erroneous backup withholding, an exempt Payee
must enter its correct TIN in Part I of the Substitute Form W-9, write "Exempt"
in Part 2 of such form and sign and date the form. See the W-9 Guidelines for
additional instructions. In order for a nonresident alien or foreign entity to
qualify as exempt, such person must submit a completed Form W-8, "Certificate of
Foreign Status," signed under penalty of perjury attesting to such exempt
status. Such form may be obtained from the Payor.
12. MUTILATED, LOST, STOLEN OR DESTROYED OLD NOTES. Any holder whose Old
Notes have been mutilated, lost, stolen or destroyed should contact the Exchange
Agent at the address or telephone number set forth on the cover of this Letter
of Transmittal for further instructions.
13. REQUESTS FOR ASSISTANCE OR ADDITIONAL COPIES. Requests for assistance
relating to the procedure for tendering, as well as requests for additional
copies of the Prospectus, this Letter of Transmittal, the Notice of Guaranteed
Delivery and the Guidelines for Certification of Taxpayer Identification Number
on Substitute Form W-9 may be directed to the Exchange Agent at its address set
forth on the cover of this Letter of Transmittal.
14. NO CONDITIONAL TENDERS. No alternative, conditional, irregular or
contingent tenders will be accepted. All tendering holders of Old Notes, by
execution of this Letter of Transmittal, shall waive any right to receive notice
of the acceptance of their Old Notes for exchange.
15. NO NOTICE OF DEFECT. Neither the Company, the Exchange Agent nor any
other person is obligated to give notice of any defect or irregularity with
respect to any tender of Old Notes nor shall any of them incur any liability for
failure to give any such notice.
IMPORTANT -- THIS LETTER OF TRANSMITTAL, TOGETHER WITH CERTIFICATES FOR
TENDERED OLD NOTES AND ALL OTHER REQUIRED DOCUMENTS, WITH ANY REQUIRED SIGNATURE
GUARANTEES AND ALL OTHER REQUIRED DOCUMENTS MUST BE RECEIVED BY THE EXCHANGE
AGENT PRIOR TO THE EXPIRATION DATE.
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