Columbia Point Limited Extends Tender Offer to Acquire the Outstanding Notes of Airlie CDO I Until November 10, 2010

Oct 27, 2010, 20:16 ET from Elliott Management

NEW YORK, Oct. 27 /PRNewswire/ -- Columbia Point Limited (the "Offeror"), a wholly owned subsidiary of Elliott International, L.P., has extended its previously announced tender offer for the Class B Floating Rate Deferrable Notes Due 2014 (CUSIP No. 00936KAB0), the Class C Floating Rate Deferrable Notes Due 2014 (CUSIP Nos. 00936KAC8 and G0134PAC0) and the Class D Floating Rate Deferrable Notes Due 2014 (CUSIP Nos. 00936KAD6, 00936KAH7 and G0134PAD8) co-issued by Airlie CDO I, Ltd. and Airlie CDO I, Corp. (the "Notes").

The Offeror is extending its offer to purchase all of the Notes upon the terms and subject to the conditions set forth in an Offer to Purchase for Cash dated September 28, 2010, as supplemented on October 28, 2010.  The new expiration date of the offer is at 12:00 midnight at the end of November 10, 2010.  In addition, the Offeror is removing entirely the minimum condition that at least 65% of the principal balance of the Notes must be properly tendered and not withdrawn.

The offer remains subject to satisfaction of certain other conditions set forth in the Offer to Purchase for Cash.  As of 5:00 pm on October 27, 2010, no Class B Notes, $5,000,000 principal amount of the Class C Notes and $7,500,000 principal amount of the Class D Notes have been properly tendered and not withdrawn pursuant to the offer and the Offeror and its affiliates continue to hold approximately 71% of the Class B Notes, 37% of the Class C Notes and 6% of the Class D Notes.

IMPORTANT NOTICE: This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any of the Notes.  The Offer to Purchase for Cash, Letter of Transmittal and related documents are available  from the Offeror at: Columbia Point Limited, c/o Elliott Management Corporation; 712 Fifth Avenue, 35th floor; New York, NY, 10019; Attention: Mr. Daniel Wang; Telephone: +1 212 506 2999; Email: dwang@elliottmgmt.com.  The solicitation of offers to buy the Notes will only be made pursuant to the Offer to Purchase for Cash, Letter of Transmittal and related documents.  The tender offer will expire at 12:00 midnight (New York time) at the end of November 10, 2010, unless extended in the manner set forth in the Offer to Purchase for Cash. Investors and noteholders should seek legal or other professional advice before acting or relying on any of the information provided above.

SOURCE Elliott Management