COMPANY TOWN ANNEX

Viacom Won’t Extend Rights Maturity Date: The New York-based media company said it will not extend the July 7 maturity date on the roughly 57 million outstanding contingent value rights (CVRs) issued in connection with its merger with Paramount Communications Inc. Viacom said that, based on trading to date, the company’s payment to CVR holders is expected to be about $1.44 per CVR in cash, or a total of about $83 million. The company noted that the maximum exposure had declined from $12 per CVR, or a total of about $687 million at the time the CVRs were issued. Under terms of the CVRs, payment will be made through the paying agent, Harris Trust Co. of New York.