FOR IMMEDIATE RELEASE

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

AKAMAI TO REDEEM ALL OUTSTANDING 5.5% BONDS

CAMBRIDGE, MA – August 4, 2005 – Akamai Technologies, Inc. (NASDAQ: AKAM) today announced it will redeem all of its outstanding 5.5% Convertible Subordinated Notes Due 2007.

Under the terms of the Indenture governing the 5.5% Notes, all of the $56.6 million in principal amount of the 5.5% Notes outstanding on September 7, 2005 will be redeemed at a redemption price of 101.571% plus accrued interest to September 7, 2005. The notice of redemption is expected to be delivered by the Trustee for the 5.5% Notes, U.S. Bank National Association, not later than August 8, 2005.

“Based on Akamai’s recent financial performance and continued improvement in our profitability, we believe this is an excellent time to retire the remaining portion of our 5.5% notes