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EXHIBIT 20.2
CAPROCK COMMUNICATIONS CONTINUES SEARCH FOR CHIEF
FINANCIAL OFFICER
DALLAS, Aug. 1/PRNewswire/-- CapRock Communications Corp. (Nasdaq: CPRK-news)
today announced that it is continuing its search for a Chief Financial Officer.
"Today, we learned that the CFO candidate who had signed an employment
agreement with CapRock on July 24, 2000 will not be joining the Company due to
the candidate's concerns about non-compete issues with his current employer,"
commented Jere W. Thompson, Jr., chairman and CEO of CapRock. "We are continuing
our search for this position. Until the new CFO joins CapRock, I will assume
those responsibilities."
CapRock owns and operates a scalable long-haul fiber network that upon
completion is expected to extend 7,500 miles throughout Texas, Louisiana,
Arkansas, Oklahoma, New Mexico and Arizona. This network will connect almost
every primary, secondary and tertiary market in the region and will provide the
backbone for CapRock's facilities-based local, long distance, data, Internet and
bandwidth services. At June 30, 2000, CapRock had 4,500 miles of network
substantially completed, as well as 12 voice and 17 data switches installed and
operational. The Company currently has over 250 sales people operating in
Dallas, Fort Worth, Houston, San Antonio, Austin, Victoria, Tyler, McAllen and
Corpus Christi, Texas; Oklahoma City, Oklahoma; Lafayette and New Orleans,
Louisiana; and Phoenix, Arizona.
Statements contained in this news release regarding expected financial results
and other planned events are forward-looking statements, subject to
uncertainties and risks. Among many factors that could cause actual results to
differ materially from those expected include, but are not limited to, the
following: the substantial indebtedness of the Company including the interest
charges associated therewith and the financial covenants imposed upon the
Company by such indebtedness; the Company's ability to successfully, timely and
cost-effectively fund and complete its planned growth, including its fiber
network; and, competition in the various segments of the communications industry
in which the Company seeks to participate. For an expanded discussion on these
and additional risks associated with CapRock's business, please see the
documents filed by CapRock Communications Corp. with the U.S. Securities and
Exchange Commission.
