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             [IMAGE] [IMAGE]   [IMAGE] [IMAGE] Upgrades  [IMAGE] DownGrades  [IMAGE] Coverage Initiated  [IMAGE] Stock Splits  [IMAGE] Buybacks  [IMAGE] Pos Pre-Announce  [IMAGE] Neg Pre-Announce  [IMAGE] Todays IPOs  [IMAGE] IPO - Quiet Periods   [IMAGE] IPO - Postponements  [IMAGE] IPO - Withdrawals  [IMAGE] IPO - Latest Pricing  [IMAGE] IPO - Lockup Period     [IMAGE]   [IMAGE]   [IMAGE]  [IMAGE]  [IMAGE] Unsubscribe  [IMAGE] Update my Membership / Profile  [IMAGE] Forgot Username / Password  [IMAGE] Add / Edit Alerts  [IMAGE] View My Alerts   [IMAGE] [IMAGE] [IMAGE] [IMAGE]   [IMAGE]  [IMAGE]    [IMAGE] [IMAGE] [IMAGE] 	  As requested, your News Alert for CMGI  follows from EquityAlert.com.     CMGI Retires Series C Preferred Stock, Substantially Strengthening Capital Structure   ANDOVER, Mass., Nov 20, 2001 (BUSINESS WIRE) -- CMGI, Inc. (Nasdaq: CMGI) today announced that it has retired its Series C Convertible Preferred Stock under the terms of an agreement with the Series C stockholders. The agreement represents successful conclusion of CMGI's focused efforts to eliminate outstanding debt and convertible preferred instruments.   In June 1999, CMGI completed a $375 million private placement of newly issued Series C Convertible Preferred Stock, the June 2002 maturity value of which is estimated to be approximately $398 million. Under the terms of the agreement, the Series C stockholders retired the obligation in full in exchange for aggregate consideration consisting of: 1) approximately $100.3 million in cash; 2) an obligation to deliver approximately 448.3 million ordinary shares of Pacific Century Cyberworks (PCCW) owned by CMGI no later than December 2, 2002, and, 3) approximately 34.7 million shares of CMGI common stock, which shares shall be subject to certain volume and other trading restrictions.   The Series C stock retirement is the second of two major financial restructuring initiatives focused on improving CMGI's capital structure. Earlier this month, the company and two of its subsidiaries, NaviSite, Inc. and AltaVista Company, announced the successful completion of an agreement with Compaq Computer Corporation and Compaq Financial Services to retire, restructure and realign key financial obligations.   "With today's agreement, we've effectively closed the second chapter of our financial restructuring initiatives and significantly improved our capital structure in line with the company's long-term goals," said George McMillan, chief financial officer, CMGI, Inc. "The successful retirement of both the Compaq and Series C obligations now frees CMGI and its subsidiaries to focus our resources on strengthening our fiscal management and executing on an operating plan to grow our businesses in 2002 and beyond. We expect that this capital restructuring, coupled with our ongoing fundamental restructuring and alignment of our business, will enable us to focus our resources on ongoing initiatives to accelerate recurring operating profitability and position the company for growth-focused activities."   About CMGI and @Ventures  CMGI, Inc. (Nasdaq: CMGI), a leading global Internet operating and development company, is comprised of established and emerging companies, including both CMGI operating businesses and investments made through its venture capital affiliate, @Ventures. CMGI companies span a range of vertical market segments including search and portals; infrastructure and enabling technologies; e-business and fulfillment; marketing software and services; and Internet professional services. Compaq, Pacific Century CyberWorks and Sumitomo hold minority positions in CMGI.   CMGI's majority-owned operating companies include Engage (Nasdaq: ENGA), NaviSite (Nasdaq: NAVI), AltaVista, Equilibrium, SalesLink, Tallan, uBid and yesmail.com. @Ventures has ownership interests in more than 40 companies, with a focus on identifying, investing in and developing emerging technology companies and eBusinesses.   CMGI's corporate headquarters is located at 100 Brickstone Square, Andover, MA 01810. @Ventures has offices there, as well as at 3000 Alpine Road, Menlo Park, CA 94028. For additional information, see http://www.cmgi.com and http://www.ventures.com.   This release contains forward-looking statements which address a variety of subjects including, for example, the expected benefits of the agreement with certain of CMGI's equityholders to retire all of the outstanding shares of CMGI's Series C Convertible Preferred Stock, efforts to accelerate recurring operating profitability and the results of growth-focused activities. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: CMGI's success, including its ability to decrease its cash burn rate, improve its cash position and revenue run rate and reach profitability, depends on its ability to execute on its business strategy and the continued and increased demand for and market acceptance of CMGI's products and services and the Internet in general; CMGI may experience difficulties integrating technologies, operations and personnel in accordance with its business strategy; and increased competition and technological changes in the markets in which CMGI competes. For a detailed discussion of cautionary statements that may affect CMGI's future results of operations and financial results, please refer to CMGI's filings with the Securities and Exchange Commission, including CMGI's Annual Report on Form 10-K filed October 29, 2001.   CONTACT:          CMGI Corporate Communications    CMGI Investor Relations                   Deidre Moore                     Catherine Taylor                   (978) 684-3655                   (978) 684-3832                   dmoore@cmgi.com                  ctaylor@cmgi.com URL:              http://www.businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page.  Copyright (C) 2001 Business Wire.  All rights reserved.  -0-   KEYWORD:          MASSACHUSETTS INDUSTRY KEYWORD: BANKING                   COMPUTERS/ELECTRONICS                   INTERNET                   SOFTWARE                   SOURCE:                   CMGI    [IMAGE]    ***IMPORTANT NOTICE AND DISCLAIMER REGARDING THIS COURTESY EMAIL***  At your request, as a subscriber to our service, this email alert is being sent to you as a courtesy and is for information purposes only. We are a financial news re-distributor. 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