Exhibit 99.1
Citizens Communications
3 High Ridge Park
Stamford, CT 06905
203.614.5600
Web site: www.czn.net
FOR IMMEDIATE RELEASE
Contacts:
Financial Community: Media:
Alan H. Oshiki, Assistant Vice President Brigid M. Smith, Assistant Vice
Investor Relations President Corporate Communications
(203) 614-5629 (203) 614-5042
[email protected] [email protected]
Citizens Communications Completes Purchase of Nebraska Telephone Properties
STAMFORD, Conn., June 30, 2000 - Citizens Communications (NYSE:CZN) announced
today that it has completed the purchase of 61,000 telephone access lines in
Nebraska from GTE Corporation (NYSE:GTE).
In 1999, Citizens agreed to purchase nearly one million telephone access lines
from GTE and USWEST Inc. (NYSE:USW) in transactions valued at $2.8 billion. The
Nebraska transaction is the first of these purchases to close. The remainder
will close over the next twelve months.
Citizens Communications provides telecommunications services to more than 1
million customers in 14 states. Citizens also owns 82% of Electric Lightwave,
Inc. (NASDAQ:ELIX), a facilities-based, integrated communications provider that
offers a broad range of services to telecommunications-intensive businesses
throughout the United States. More information about Citizens can be found at
www.czn.net.
This document contains forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from those
expressed or implied in the statements. These and all forward-looking statements
(including oral representations) are only predictions or statements of current
plans that are constantly under review by the company. All forward-looking
statements may differ from actual results because of, but not limited to,
changes in the local and overall economy, changes in market conditions for debt
and equity securities, the nature and pace of technological changes, the number
and effectiveness of competitors in the company's markets, success in overall
strategy, changes in legal or regulatory policy, changes in legislation, the
company's ability to identify future markets and successfully expand existing
ones, the mix of products and services offered in the company's target markets,
the effects of acquisitions and dispositions and the ability to effectively
integrate businesses acquired. These important factors should be considered in
evaluating any statement contained herein and/or made by the company or on its
behalf. The foregoing information should be read in conjunction with the
company's filings with the U.S. Securities and Exchange Commission including,
but not limited to, reports on Forms 10-K and 10-Q. The company does not intend
to update or revise these forward-looking statements to reflect the occurrence
of future events or circumstances.
