For Immediate Release: September 5, 2000
Mebane, North Carolina
MADISON RIVER COMUNICATION ANNOUNCES ADDITIONAL INTEGRATED COMMUNICATIONS DIVISION ORGANIZATIONAL CHANGES
Contact: Paul Sunu, Chief Financial Officer at (919) 563-8222 or
Kevin Hancock, Marketing Manager at (919) 563-8227
Madison River Communications today announced the following organizational changes to support the accelerated growth plans of the Integrated Communications Division.
Ned Maliski, currently Director of IT Applications, is promoted to the position of Vice President of Information Technology and will be responsible for all MIS and IT functions for Madison River Communications. Maliski will report to Bruce J. Becker, Executive Vice President and Chief Technology Officer of Madison River Communications.
Founded in 1996, Madison River has experienced dramatic and sustained growth since its inception. As of July 31, 2000, Madison River's access lines total is now over 201,000. Madison River provides long distance services to over 56,000 customers and Internet access service to over 29,000 customers. The addition of these network access points will further the company's goal to provide integrated communications services to customers through Madison River's 2,163 route mile Fiber Optic network spanning the southern United States, connecting Atlanta, New Orleans, Houston and Dallas.
The statements, other than statements of historical fact, included in this press release are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as ''may,'' ''will,'' ''expect,'' ''intend,'' ''estimate,'' ''anticipate,'' ''plan,'' ''seek'' or ''believe.'' We believe that the expectations reflected in such forward-looking statements are accurate. However, we cannot assure you that such expectations will occur. Our actual future performance could differ materially from such statements. Factors that could cause or contribute to such differences include, but are not limited to, the following:
· the uncertainties and potential delays associated with integrating the operations of Gulf Coast Services and Coastal Communications;
· the uncertainties and potential delays associated with our planned expansion into competitive local service;
· the passage of legislation or court decisions adversely affecting the telecommunications industry;
· our ability to repay our outstanding indebtedness;
· competition in the telecommunications industry; and
· the advent of new technology.
For more information, see the "Risk Factors" section beginning on page 11 of our Registration Statement on Form S-4 (Registration No. 333-36804) filed with the Securities and Exchange Commission.
You should not unduly rely on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, we are not obligated to publicly release any revisions to these forward-looking statements to reflect events or circumstances occurring after the date of this press release or to reflect the occurrence of unanticipated events.
Madison River Capital, LLC operates as Madison River Communications and is a wholly owned subsidiary of Madison River Telephone Company, LLC. Madison River Communications operates and enhances rural telephone companies and uses advanced technology to provide competitive communications services in nearby markets. Madison River Telephone Company, LLC is owned by affiliates of Madison Dearborn Partners Inc., Goldman, Sachs & Co., Providence Equity Partners and members of management.