Welcome to the website for the WorldCom Victim Trust, the official website for information about the U.S. Securities & Exchange Commission’s program to distribute the proceeds of its successful enforcement action against WorldCom, Inc. to investors victimized by WorldCom’s fraud.

As a result of its successful enforcement action against WorldCom for fraud and other violations of the federal securities laws, the U.S. Securities and Exchange Commission obtained a recovery from the former WorldCom, Inc. consisting of $500 million in cash and shares of common stock of the reorganized MCI, Inc. having a value of $250 million at the time of the reorganization (the “Monetary Settlement”). The WorldCom Victim Trust (“WVT”) was created by order of the U.S. District Court for the Southern District of New York (the “Court”) pursuant to the Fair Funds for Investors provisions of the Sarbanes-Oxley Act of 2002 to hold the proceeds of the Monetary Settlement for distribution to former WorldCom investors who satisfy certain eligibility requirements.

In 2004, the Court approved a distribution plan (“the Distribution Plan”) proposed by the SEC to govern the eligibility of claims made on the assets of the WVT for losses arising from transactions in eligible WorldCom securities. The Distribution Plan governs every aspect of the distribution process. You may obtain a copy of the Distribution Plan by clicking on the link below.

On February 23, 2010 the Court authorized the Distribution Agent to make a Final Distribution from the WorldCom Victim Trust. The amount of the Final Distribution will be approximately $127 million.

This final payment represents an additional recovery of approximately 1% of a claimant’s eligible fraud losses. After completion of the Final Distribution, claimants will have either received distributions of approximately 6% of their eligible fraud losses or the $100 Minimum Distribution. Claimants who received the Minimum Distribution in a previous distribution and are not eligible for any further recovery will not receive a payment in the Final Distribution.

All checks issued as part of the Final Distribution should be cashed as soon as possible after they are received. If a WVT check has not been cashed within 180 days of issuance, the check will become void and the underlying claim will be extinguished. If a replacement check is necessary for any reason, please contact our customer service department immediately. However, the replacement check must be deposited within 180 days from the date the original check was issued, not the replacement check.

Any uncashed check from an earlier distribution will be cancelled and the amount of that payment will be included in your Final Distribution.

Thank you for your patience during this process. If you have any further questions or concerns, please contact our customer service team at 866-894-8871. Set forth below are certain questions and answers regarding the distribution process.

1. Who will receive a final distribution?

Checks will be distributed to claimants who have submitted complete documentation for their claims and otherwise established their eligibility, and are entitled to receive a further distribution under the terms of the Distribution Plan.

2. How can I find out whether I will be receiving a check for the final distribution and the amount that I will receive?

Call WVT’s hotline (866-894-8871) and our customer service department will be happy to assist you.

3. How much will I receive from the final distribution?

The first three distributions totaled either 5% of the Eligible Loss Amount detailed in your Claim Determination Notice or your Final Determination Notice (if you received one) or the Minimum Distribution. The final distribution will bring your total distribution to the greater of approximately 6% of your Eligible Loss Amount or the Minimum Distribution. Thus, if your Eligible Loss Amount is $10,000, your final check will be for approximately $100, making your total distribution approximately $600. Some claimants who received a Minimum Distribution as described below (in the response to Question 10) will not receive a final distribution.

4. Will this be the final payment from WVT?

Yes, this will be the final distribution from the WVT.

5. Why are you making multiple distributions?

Performing the distribution in multiple phases enabled WVT to provide harmed investors with recoveries at the earliest opportunity, rather than waiting until all claim processing was completed and all administrative matters were resolved.

6. A payment of only 6% of my losses doesn’t seem like much of a recovery. Did legal and/or processing fees eat up money I could have received?

No, in fact, the opposite occurred. When WVT was formed, it had $690 million in assets. Even after paying all taxes and distribution fees and expenses, the assets of the WVT grew to just under $760 million during the period of time required to solicit and process all claims, due to interest earnings on the fund assets. So, you will receive a larger distribution than you would have if the distribution had commenced at the time WVT was created.

7. Why is the payout percentage so small?

The economic losses of all WorldCom investors were substantially larger than the assets of the WVT available to pay claims. Although the $750 million monetary penalty imposed by the SEC on WorldCom is a very significant amount, investors lost money due to WorldCom’s fraud on a vast and unprecedented scale. WorldCom investors lost nearly $150 billion on WorldCom common stock alone and tens of billions of dollars more on debt and other securities. After processing all potentially eligible claims submitted to WVT, the aggregate Eligible Loss Amount is more than $12 billion. Since WVT only had approximately $750 million to pay claims, the amount paid out to fraud victims is only a fraction of the total eligible losses.

8. Why is the amount of my “Eligible Loss Amount” less than the amount of money I really lost on my WorldCom investments?

The Distribution Plan is designed to enable investors to recover a portion of their losses directly attributable to the fraud itself, rather than all economic losses incurred on their WorldCom investments. The SEC’s Distribution Plan accomplishes this through use of “fraud inflation factors.” The guidelines for calculating Eligible Loss Amount in the Distribution Plan divides the overall Fraud Period (April 29, 1999 – June 25, 2002) into eight different time periods. For each Eligible Security covered by the Distribution Plan, economists determined the portion of the market price of the security during each period that was based on WorldCom’s true earnings and the portion that represented price inflation due to the cumulative effect of WorldCom’s earnings misstatements. The Distribution Plan provides that each claimant’s Eligible Loss Amount on each eligible transaction in eligible securities is determined by multiplying the purchase price by the fraud inflation factor applicable to the time period in which the purchase occurred. This approach results in larger proportional recoveries by investors who purchased later in the Fraud Period, when WorldCom’s fraudulently reported income was a predominant part of all reported earnings and the inflationary impact of the fraud on the stock price was at its greatest.

9. What is the Minimum Distribution?

The Court Order authorizing the first distribution provided that every claimant will receive a Minimum Distribution equal to the lesser of $100 or 100% of a claimant’s total monetary loss (not Eligible Fraud Loss). So, for example, a claim with an Eligible Fraud Loss of $1,000 has received a Minimum Distribution of $100 rather than the 5% (or $50) distribution to which the claimant otherwise would have been entitled under the terms of the Distribution Plan.

10. If I previously received the Minimum Distribution, will I receive a final distribution?

If your total distribution would be greater than $100 as a result of the additional distributions, you will receive a final distribution. If your final aggregate payment would be less than the Minimum Distribution you received, you will not receive any additional payment.

11. When will the final payment be made?

We expect to commence the final distribution in March of 2010.

12. How many claims did WVT receive?

WVT received over 450,000 claims covering approximately 9.5 million individual transactions in eligible securities. Total claimed losses amounted to hundreds of billions of dollars. The staff of WVT carefully reviewed all claims to verify the amounts claimed and to prevent false claims from participating and diluting the distribution of those with eligible claims. The final aggregate amount of Eligible Loss Amounts totaled more than $12 billion.

13. Can you wire money to my bank?

No.

14. How long do I have to cash my check?

As noted above, you must cash your check within 180 days of the date of the original check. If your check is not negotiated within this period, it will be voided. At such time, the Distribution Agent will instruct the financial institution issuing the check to stop payment, and your claim will be extinguished and all such funds will be returned to the Fair Fund. You should also consult your tax adviser to determine the tax consequences to you, if any, of this distribution.

15. What should I do if I need a replacement check for any reason?

Please contact our customer service department (866-894-8871) immediately and we will arrange for a replacement check. Remember the replacement check must be deposited within 180 days from the date the original check was issued, not the replacement check.

16. What should I do if I have an uncashed check from an earlier distribution?

As noted above, any uncashed check from an earlier distribution has been voided. The amount of that check has been included in the check issued to you as part of the Final Distribution.

17. My claim was filed electronically by my bank or other institution. When will those checks be issued?

Payments on claims filed by custodian banks and other intermediaries were included in the second and third distributions. These claims are also eligible to receive a final payment as described in question 3.

18. What should I do if I have any other questions about my check?

As always, you should feel free to call our customer service hotline at 866-894-8871 or email us at WVTinfo@breedenco.com.