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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
e.spire STRENGTHENS FINANCE ORGANIZATION;
INTERIM CFO BRADLEY E. SPARKS ACCEPTS PERMANENT ROLE AND
BANK OF AMERICA VETERAN DONALD W. BUSH
FILLS VP AND TREASURER POSITION
HERNDON, VA, JUNE 26, 2000 -- e.spire COMMUNICATIONS, INC. (NASDAQ: ESPI),
THE COMMUNICATIONS COMPANY FOR THE NETWORKED ECONOMY, TODAY ANNOUNCED THAT ITS
INTERIM CHIEF FINANCIAL OFFICER, BRADLEY E. SPARKS, HAS ACCEPTED THE POSITION
ON A PERMANENT BASIS.
"SINCE JOINING e.spire IN APRIL OF THIS YEAR, BRAD ALREADY HAS MADE
SIGNIFICANT CONTRIBUTIONS TO OUR FINANCE GROUP BY CREATING A MORE STABLE
ENVIRONMENT AS WE UNDERTAKE THE NEXT PHASE OF THE COMPANY'S GROWTH AND
FINANCING EFFORTS," SAID GEORGE SCHMITT, e.spire CHAIRMAN AND ACTING CHIEF
EXECUTIVE OFFICER. "BRAD IS BUILDING A SOLID TEAM CAPABLE OF MEETING
THESE CHALLENGES BY ATTRACTING TOP-NOTCH TALENT IN THE INDUSTRY WHILE
RECOGNIZING THE CONSIDERABLE SKILLS AND CONTRIBUTIONS OF THE TALENTED
PEOPLE IN HIS CURRENT ORGANIZATION."
SPARKS' MOST RECENT APPOINTMENT IS THAT OF DONALD W. BUSH TO VICE PRESIDENT
AND TREASURER, WHO WILL ASSUME RESPONSIBILITY FOR NEW FINANCING, CAPITAL
STRUCTURE, BANK RELATIONS, INSURANCE AND CASH MANAGEMENT. BUSH, WHO HAS MORE
THAN 24 YEARS OF EXPERIENCE IN FINANCE, MOST RECENTLY SERVED AS A MANAGING
DIRECTOR AT BANC OF AMERICA SECURITIES' MEDIA AND TELECOMMUNICATIONS.
WHILE AT BANC OF AMERICA SECURITIES AND BANK OF AMERICA, HE ARRANGED
FINANCING FOR SEASONED AND STARTUP TELECOMMUNICATIONS COMPANIES SUCH AS
OMNIPOINT, GTE, BELL ATLANTIC, MCI, INTELSAT AND TELIGENT.
"Don brings to e.spire broad financial expertise and extensive management
experience," said Sparks. "His understanding of financial markets and the
telecommunications industry will help us significantly as we concentrate on
profitability, continued steady, but aggressive growth, and regaining the
confidence of the financial marketplace."
In recent months, the Company also promoted Sean Scarlis, former Assistant
Controller and Director, to Vice President, Controller and Chief Accounting
Officer, and named Linda DeNicola as Vice President of Planning and Business
Analysis.
Scarlis joined the Company in 1997 as manager of Financial Reporting. He assumed
increasing areas of responsibilities, including Assistant Controller and
Director, and in November 1999, became Acting Controller. In that position, he
led a short-staffed finance team successfully through E.SPIRE'S year-end audit
and reporting process.
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In May, DeNicola was appointed to the position of Vice President of Planning and
Business Analysis. Prior to e.spire, she served as Senior Director of Business
Planning for WinStar Communications, Inc. DeNicola brings nearly 15 years of
business planning, strategic planning, reporting and financial analysis in
telecommunications, having also held management positions at Concert, COMSAT and
Contel.
-more-
e.spire STRENGTHENS FINANCE ORGANIZATION/PAGE 2
e.spire Communications, Inc. is a leading integrated communications provider,
offering traditional local and long distance, dedicated Internet access and
advanced data solutions, such as ATM and frame relay. e.spire also provides
dial-up Internet through its wholly-owned Internet service provider (ISP),
CyberGate, Inc., and Web-hosting services through CyberGate's subsidiary
ValueWeb. In addition, e.spire's subsidiary, ACSI Network Technologies, Inc.,
provides third parties, including other communications concerns, municipalities
and corporations, with turnkey fiber-optic design, construction and project
management expertise. More information about e.spire is available on e.spire's
Web site, www.espire.net.
Certain statements regarding the development of the Company's businesses, the
markets for the Company's services and products, the Company's anticipated
capital expenditures, anticipated EBITDA and other statements are
forward-looking statements (as such term is defined in the Private Securities
Litigation Reform Act of 1995) which can be identified as any statement that
does not relate strictly to historical or current facts. Forward-looking
statements use such words as plans, expects, will, will likely result, are
expected to, will continue, is anticipated, estimate, project, believes,
anticipates, intends and expects, may, should, continue, seek, could and other
similar expressions. Although the Company believes that its expectations are
based on reasonable assumptions, it can give no assurance that its expectations
will be achieved. The important factors that could cause actual results to
differ materially from those in the forward-looking statements herein (the
"Cautionary Statements") include, without limitation, the Company's degree of
financial leverage, risks associated with debt service requirements and interest
rate fluctuations, risks associated with acquisitions and the integration
thereof, the impact of restriction under the Company's financial instruments,
dependence on availability of transmission facilities, regulation risks
including the impact of the Telecommunications Act of 1996, contingent
liabilities, the impact of competitive services and pricing, the ability of the
Company to successfully implement its strategies, as well as the other risks
referenced from time to time in the Company's filings with the SEC, including
the Company's Form 10-K for the year ended December 31, 1999. All subsequent
written and oral forward-looking statements attributable to the Company or
persons acting on its behalf are expressly qualified in their entirety by the
Cautionary Statements. The Company does not undertake any obligation to release
publicly any revisions to such forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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Contact:
Media Relations
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Peggy Disney
703.639.6738
[email protected]
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