SUN Microsystems Responds To Mini-Tender Offer

HostReview.com
Thursday, July 15, 2004; 12:00 AM

July 15, 2004 – (Hostreview.com) — Sun Microsystems, Inc., (NASDAQ: SUNW) today announced that it has received a copy of an unsolicited "mini-tender" offer statement dated June 24, 2004, pursuant to which TRC Capital Corporation, a private Canadian investment company, has offered to purchase from Sun stockholders up to 25,000,000 shares, or less than one percent, of Sun's outstanding common stock. Sun does not recommend or endorse this offer, and Sun is not affiliated in any way with TRC Capital Corporation, the offer or the offer documentation.

Sun is but one of many companies that TRC has targeted for a "mini-tender." These offers seek less than 5 percent of a company's stock, thereby avoiding many disclosure and procedural requirements of the Securities and Exchange Commission (SEC). The SEC has issued an investor alert regarding "mini-tender" offers on its website at http://www.sec.gov/investor/pubs/minitend.htm. The SEC has said that mini-tender offers "have been increasingly used to catch investors off guard" and that investors "may end up selling their securities at below-market prices."

Stockholders are urged to obtain current market quotations for their shares, to consult with their own brokers or financial advisors, to give careful consideration before selling their shares under the terms of the TRC offer and to review the SEC's regulatory concerns about mini-tender offers.

Since its inception in 1982, a singular vision -- "The Network Is The Computer" -- has propelled Sun Microsystems, Inc. (Nasdaq: SUNW) to its position as a leading provider of industrial-strength hardware, software and services that make the Net work. Sun can be found in more than 100 countries and on the World Wide Web at http://sun.com