DYCOM INDUSTRIES, INC.
4440 PGA Boulevard / Palm Beach Gardens, Florida 33410-6542
First Union Center / Suite 500 / Telephone (561) 627-7171
NEWS RELEASE
FOR IMMEDIATE RELEASE Contact: Steven E. Nielsen, President and CEO
Richard L. Dunn, Senior Vice President
and CFO
(516) 627-7171
Palm Beach Gardens, Florida November 27, 2000
DYCOM INDUSTRIES, INC. ENTERS INTO AN AGREEMENT
TO ACQUIRE POINT TO POINT COMMUNICATIONS, INC.
Dycom Industries, Inc. (NYSE:"DY") announced today that is has entered into a
Stock Purchase Agreement with the stockholders of Point to Point Communications,
Inc. whereby Point to Point Communications will become a wholly-owned subsidiary
of Dycom Industries, Inc. Dycom is acquiring Point to Point Communications for
approximately $65,000,000, including a cash payment of $52,000,000 and the
issuance of 288,090 shares of its common stock. The agreement is subject to
satisfaction of customary closing conditions, including completion of due
diligence procedures and approval under the Hart-Scott-Rodino Improvement Act.
Point to Point Communications, based in Lafayette, Louisiana, provides central
office engineering, equipment, installation, testing and maintenance services
for telecommunication providers throughout the United States.
In conjunction with Dycom's first quarter earnings release earlier today, a
Tele-Conference call to discuss this acquisition, review the Company's results
and address its outlook will be hosted at 9:00 a.m. EST, Tuesday, November 28,
2000; Call 1-800-230-1085 and request "Dycom Earnings Report." A live webcast of
the conference call will be available at http://www.dycomind.com. If you are
unable to attend the conference call at the scheduled time, a replay of the live
webcast will also be available at http//:www.dycomind.com until the second
quarter's conference call is posted on the website.
Dycom is a leading provider of engineering, construction, and maintenance
services to telecommunication providers throughout the United States.
Additionally, the Company provides similar services related to the installation
of integrated voice, data, and video local and wide area networks within office
buildings and similar structures. Dycom also provides underground utility
locating and mapping and electric utility construction services.
