CSG SYSTEMS LOGO CSG Systems logo. (PRNewsFoto)[TK TC] ENGLEWOOD, CO USA

    ENGLEWOOD, Colo., June 2 /PRNewswire-FirstCall/ -- CSG Systems
(Nasdaq: CSGS) today announced the closing of its offering of $200 million of
2 1/2 % Senior Subordinated Convertible Contingent Debt Securities due 2024 in
a private placement to qualified institutional buyers pursuant to exemptions
from the registration requirements of the Securities Act of 1933.  In
addition, the initial purchasers of the Securities exercised their right to
purchase an additional $30 million aggregate principal amount of the
Securities, bringing the total offering to $230 million.
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20020627/CSGSLOGO)
    Concurrent with the Convertible Debt Offering, CSG Systems repurchased of
2.1 million shares of common stock.   In conjunction with the Convertible Debt
Offering, the company used the remainder of the net proceeds and a portion of
the company's available cash, cash equivalents and short-term investments to
repay and terminate its $199 million of outstanding debt.

    This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer, solicitation or
sale is unlawful.  The Securities and the common stock issuable upon
conversion of the Securities have not been registered under the Securities Act
of 1933 or applicable state securities laws and, unless so registered, may not
be offered or sold in the United States except pursuant to an exemption from
the registration requirements of the Securities Act and applicable state
securities laws.

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