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Exhibit 99.3
ALASKA COMMUNICATIONS SYSTEMS
SIGNS STOCK PURCHASE AGREEMENT TO ACQUIRE
INTERNET ALASKA, INC.
Anchorage, Alaska--(BUSINESS WIRE)--June 13, 2000
Alaska Communications Systems Group, Inc. ("ACS") (NASDAQ: ALSK) announces a
conference call at 1:00PM Eastern Daylight Savings Time on June 14th to discuss
its forthcoming acquisition of Internet Alaska, Inc. for cash and assumption of
debt. Conference call participants may dial in on 1-800-553-0358 and ask for the
Alaska Communications Systems Conference. ACS, through its subsidiary ATU
Communications, Inc., has executed a stock purchase agreement with Internet
Alaska, Inc. ("IAI") and each of the other shareholders to purchase one hundred
percent (100%) of the outstanding and issued stock, which is not already owned
by ACS. Prior to the acquisition, ACS owned approximately 29% of the outstanding
shares of IAI. The Board of Directors of IAI has approved the transaction, which
is expected to close on the 16th of June.
IAI has annual revenues of approximately $8 million and more than 25,000
customers. The combination of the IAI customers with the existing customers of
ACS Internet will more than double the ACS Internet Service Provider (ISP)
customer base. In addition to the increased customer base, this acquisition
represents a significant springboard for ISP business opportunities with a
leading name in the marketplace.
Chuck Robinson, ACS Chairman and Chief Executive Officer, said, "The acquisition
of IAI will significantly enhance and expand the ISP portion of ACS' business.
In particular, this acquisition will greatly enhance sales of our Digital
Subscriber Line (DSL) product, currently marketed as The Pipe."
The Pipe is a best-of-breed, next generation, high-speed Internet access
technology, which utilizes Asymmetric Digital Subscriber Line (ADSL) technology
to deliver high-speed, secure, Internet access at speeds of up to 1.2 megabits
per second. DSL technology enables the simultaneous transmission of voice and
high-speed Internet traffic utilizing the customer's existing copper phone line.
The Pipe is a dedicated access line that is always available, allowing the user
to completely avoid busy signals and eliminate the need for a second phone line
for Internet access.
ACS is the leading diversified, facilities based telecommunications provider in
Alaska, offering local service, wireless, long distance, data, and Internet
services to business and residential customers throughout Alaska. ACS currently
serves approximately 327,000 access lines and 73,000 cellular customers
throughout the state. Members of the ACS senior management team have played
significant roles in bringing advanced technology to Alaska for more than four
decades. ACS is traded on NASDAQ under the symbol "ALSK."
Statements contained in this press release, which are not historical fact, are
"forward-looking statements" that involve a number of known and unknown risks or
uncertainties. Additional factors, which may affect actual results, are
contained in the Company's filings with the SEC, including the Company's reports
on Forms S-4, S-1, 10-K and 10-Q. Forward-looking statements in this release are
made pursuant to the safe harbor provisions contained in the Private Securities
Litigation Reform Act of 1995.
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Additional Contacts:
Michael E. Holmstrom, Senior Vice President and CFO
Mary Ann Pease, Vice President, External Relations
Alaska Communications Systems Group, Inc.
(907) 297-3000
e-mail: [email protected]
or
World Wide Web address: http://www.acsalaska
