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WorldCom to Sell Ebbers Ranch

Douglas Lake Ranch, 'the largest working cattle ranch in Canada,' will be sold. Strapped for cash?

January 28, 2003

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CLINTON, Miss. -- WorldCom, Inc. (WCOEQ, MCWEQ) today announced that Douglas Lake Ranch, the largest working cattle ranch in Canada and a premier recreational property, will be sold. WorldCom obtained control of the ranch in January 2003 through the exercise of certain rights arising under financing agreements entered into between WorldCom and Bernard J. Ebbers, the company's former CEO. Located in Nicola Valley in British Columbia's southern interior, the Douglas Lake Ranch is world-renowned for the quality of its cattle and horses. As the largest privately owned ranch in Canada, and reputedly one of the largest ranches in the world, the Douglas Lake Ranch is an integral part of Canada's ranching history. While the cattle operation remains a significant focus, the ranch in recent years has diversified and broadened its base of operations to include world-class fly-fishing, recreation facilities, timber and logging operations and other related businesses. Hilco Real Estate, LLC and Colliers International are jointly marketing the property for sale. "The purchase presents an opportunity for a buyer of the Douglas Lake Ranch to participate in a unique piece of Canada's ranching heritage and to own one of the most stunning and pristine pieces of land in North America," said Mitchell Kahn, President of Hilco Real Estate. To inquire about the purchase of the property, please contact Mark Lester at Colliers in Vancouver, British Columbia at (604) 661-0890 or Al Lieberman at Hilco at (847) 504-2453. WorldCom Inc.

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