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[PENTASTAR COMMUNICATIONS, INC. LOGO]
PENTASTAR COMMUNICATIONS, INC. SECURES
$10 MILLION CREDIT FACILITY
* * *
NEW CREDIT FACILITY PROVIDES ENHANCED FLEXIBILITY TO
PURSUE STRATEGIC ACQUISITIONS AND OPERATIONAL INITIATIVES
Denver, Colorado (July 19, 2000) - PentaStar Communications, Inc. (NASDAQ:
PNTA), the largest communications services agent in the country, announced today
the closing of a $10 million credit facility from Wells Fargo Bank West,
National Association.
Since January 2000, PentaStar has competed six acquisitions, establishing
PentaStar as the largest communications services agent in the country. PentaStar
has coverage in 22 metropolitan markets and services over 40,000 small to
medium-sized business customers.
PentaStar intends to use the $10 million credit facility to fund its strategy of
acquiring communications services agents and to support various operational
initiatives.
"This facility helps PentaStar build upon the successful execution of our
business strategy since our IPO in October 1999. It also provides PentaStar with
attractive debt funding as we continue to gain market coverage and support our
expanding customer base," said David L. Dunham, Chief Financial Officer.
ABOUT PENTASTAR COMMUNICATIONS, INC.
PentaStar designs, procures and facilitates the installation and use of
communications services solutions that best meet customers' specific
requirements and budgets. PentaStar was formed in March 1999 to become a
national communications services agent and specializes in being the single
source provider of total communication solutions for its business customers.
PentaStar's common stock is traded on the Nasdaq SmallCap Market under the
ticker symbol PNTA. For more complete information about PentaStar, contact
PentaStar Communications, Inc., 1522 Blake Street, Denver, Colorado 80202, (303)
825-4400, visit the company's website at www.pentastarcom.com or send an e-mail
to [email protected].
This press release may contain forward-looking statements. Such forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results or outcomes to differ materially from those currently
anticipated. Factors that could affect actual results or outcomes include those
described in PentaStar's Registration Statement on Form SB-2, its Form 10-KSB
dated March 30, 2000, its Form 8-K dated March 31, 2000, its Form 8-K dated
April 17, 2000, its Form 10Q-SB dated May 15, 2000 and all other Securities and
Exchange Commission filings submitted as of this date.
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CONTACT INFORMATION:
Nancy Shipp
PentaStar Communications Inc.
E-mail: [email protected]
Phone: 303-825-4400
