Marriott International, Inc. Announces Redemption Of All Of Its Outstanding Liquid Yield Option Note

Marriott International, Inc. (MAR/NYSE) announced today the redemption of all of its outstanding Liquid Yield Option(tm) Notes due 2011 (Zero coupon-Subordinated) (the “LYONs”). The redemption date will be November 8, 1999 and the redemption price will be $619.65 per $1,000 principal amount at maturity of LYONs. The LYONs are convertible on or prior to the redemption date into 17.52 shares of Marriott International Class A Common Stock and 2.19 shares of Sodexho Marriott Services, Inc. common stock (SDH/NYSE) for each $1,000 principal amount at maturity of LYONs. Assuming that none of the outstanding LYONs are converted, the aggregate redemption payment will be approximately $335 million.