With Revenues Down 25% Since Bankruptcy, Whistleblower Blasts "Premature and Unjustified" U.S. Reversal on MCI Contracting

Market Wire

January 8, 2004

JACKSONVILLE, FL, Jan. 08, 2004 (MARKET WIRE via COMTEX) -- Mitch Marcus, a WorldCom whistleblower and founder of the independent BoycottMCI.com, issued the following statement today in the wake of the U.S. government's decision to allow MCI/WorldCom to renew existing federal contracts and pursue new contracts:

"As someone who witnessed firsthand the deception and corruption at WorldCom, I am appalled that the United States government has blundered into this premature and unjustified decision to let MCI off the debarment hook. It is also suspect that the government should reinstate WorldCom just as its largest government telecom contract -- the Federal Technology Service 2001contract awarded by the General Services Administration -- is set to expire on Saturday.

The reality is that businesses and consumers are walking away from WorldCom/MCI and the United States government should be leading the way. MCI revenues are down a total of 25 percent since it filed for bankruptcy in July 2002. In nearly every month during that period, the company now known as MCI reported that it was steadily losing revenues. Why? The answer is obvious: Residential and business consumers do not want to do business with one of the most notorious poster children for corporate fraud in the 1990s.

Our boycott has been a successful effort and it is disheartening to see the federal government rush in to save MCI by lavishing taxpayer dollars on a company that does not deserve such a de facto bail out. There is absolutely no reason to believe that this leopard has changed its spots: I see no proof anywhere that the same corporate culture that ruled at the anything-goes WorldCom has been rooted out as the result of a handful of token window-dressing changes at MCI.

I urge Congress to look into this matter and to put pressure on the Bush Administration to stop doing business with a company that should be kicked off the line of those who have their hat in hand for a federal dole."

ABOUT BOYCOTTMCI.COM

Mitch Marcus is a former WorldCom account manager turned whistleblower who resigned before the company acknowledged its $11 billion accounting scheme. Since its founding in May 2002, the Web site now known as www.BoycottMCI.com has supported a variety of steps to highlight problems at the former WorldCom. Marcus has called for the debarment of the troubled telecommunications company from future federal contracts.

BoycottMCI.com also has opposed efforts by the SEC to let WorldCom off the hook with no meaningful penalty. Earlier this year, Marcus highlighted financial issues that were buried in reports issued by the former WorldCom.

BoycottMCI.com was established in May 2002 to: dissuade consumers, businesses, and governmental entities from purchasing Internet/data/telecom services and equipment from WorldCom, Inc. or any of its owned companies or subsidiaries; encourage retail and institutional investors to divest of all MCI/WorldCom equities and initiate class action; and organize grassroots efforts to encourage Federal and State investigations into WorldCom's business practices. BoycottMCI.com founder Mitch Marcus is a former WorldCom account relations manager, who resigned his position due to concerns about company operations.

(A chart of WorldCom month-by-month revenue losses is available upon request.)

CONTACT: Mitch Marcus (443) 604-2785 mitch@boycottworldcom.com.

SOURCE: BoycottMCI.com

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