Microsoft to Discuss New Dividend and Stock Buyback Plans

July 20, 2004

What: Microsoft Corp. will hold a teleconference to discuss its announcement of a transition to a quarterly dividend, a four-year stock buyback plan and a special dividend to shareholders.

Transcript: Read a transcript of the teleconference.

NOTE: The company will be discussing quarterly results for the fourth quarter of fiscal year 2004 or guidance for fiscal year 2005. The company will be announcing its quarterly earnings after market close on July 22, and all discussion of those topics will be deferred until that time.

Who: Bill Gates, chairman of the board and chief software architect; Steve Ballmer, chief executive officer; John Connors, senior vice president and chief financial officer; and Brad Smith, senior vice president and general counsel

When: Tuesday, July 20, 2004

The news conference call will begin at 2 p.m. PDT (5 p.m. EDT).

News Conference Call-In Information

United States: (888) 315-6116 Pass code: Microsoft

International: (712) 257-2114 Pass code: Microsoft

Reporters and editors should visit http://www.microsoft.com/presspass/ for frequent updates from Microsoft.

Audio Replay Information

An audio replay of the news conference will be available approximately one hour after the conference call has ended, until 11:59 p.m. PDT (2:59 a.m. EDT) July 28, 2004.

Replay Call-In Numbers

United States: (866) 465-1311

International: (203) 369-1427

(No pass code is required for either of the replay numbers.)

Feed Information

Domestic Feed

16:30–16:45 Eastern

KU — AMC 9/Transponder 17 — downlink frequency = 12040 (V)

C-Band — Intelsat A-5 (formerly Telstar 5)/Transponder 23 — downlink frequency = 4160 (V)

International Feed

20:30 GMT (13:30 Pacific, 16:30 Eastern)

Note: This is a digital feed, and all this information will be needed to downlink the signal.

Satellite: Intelsat 60 degrees east — digital

Transponder: 38/38 Ch1-A

Downlink frequency: 4161.5 Mhz

Downlink polarization: left-hand circular

Bandwidth: 9 Mhz

Symbol rate: 5.632 Ms/S

Fec: 3/4

Encoding: Tiernan Mpeg2-Nds-compatible

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Microsoft is a registered trademark of Microsoft Corp. in the United States and/or other countries.

For more information, print and online media only:

Rapid Response Team, Waggener Edstrom, (503) 443-7070, [email protected]

For more information, broadcast media only:

Media Relations, Global Communications & Television, (212) 339-9920, [email protected]

For more information, financial analysts only:

Curt Anderson, Microsoft Investor Relations, (425) 706-3703

Note to editors: If you are interested in viewing additional information on Microsoft, please visit the Microsoft®
Web page at http://www.microsoft.com/presspass/ on Microsoft’s corporate information pages. Web links, telephone numbers and titles were correct at time of publication, but may since have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at http://www.microsoft.com/presspass/contactpr.asp

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