CTCI CT Communications (MM)

CONCORD, N.C., Aug. 16 /PRNewswire-FirstCall/ -- CT Communications, Inc. (NASDAQ:CTCI), today announced that the Federal Communications Commission has approved its proposed merger with Windstream Corporation (NYSE:WIN). This completes all required regulatory approvals for the merger. The parties anticipate that the transaction will close by the end of August 2007. The merger is, however, still subject to shareholder approval and certain customary closing conditions. CT Communications, Inc., headquartered in Concord, N.C., is a growing provider of integrated telecommunications and related services to residential and business customers located primarily in North Carolina. CT Communications, Inc. offers a comprehensive package of telecommunications services, including broadband high-speed Internet services, local and long- distance telephone services, and digital wireless voice and data services. Safe Harbor Certain statements contained in this press release are "forward-looking statements," within the meaning of federal securities laws. CT Communications, Inc. intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and assumptions made by management about CT Communications, Inc., including, among other things, changes in industry conditions and related state and federal legislation and regulations, the ability to obtain necessary shareholder approvals for the transaction with Windstream, the impact of economic conditions related to financial performance of customers, business partners, competitors and peers within the telecommunications industry, the recovery of the substantial costs incurred in connection with expansion into new businesses, retention of CT Communications' existing customer base and the ability to attract new customers, the ability to control pricing and product offerings in a highly competitive industry, the ability to attract and retain key personnel, the performance of investments, rapid changes in technology, the ability to manage capital expenditures related to changes in technology, actions of our competitors, the impact of economic and political events on the business, operating regions and customers, including terrorist attacks. In some cases, these forward-looking statements can be identified by the use of words such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "project," "intend" or "potential" or the negative of those words or other comparable words. These forward-looking statements may differ materially from actual events or results because they involve estimates, assumptions and uncertainties and should be viewed with caution. CT Communications, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as the result of new information, future events or otherwise. Readers are also directed to consider the risks, uncertainties and other factors discussed in documents filed by CT Communications, Inc. with the Securities and Exchange Commission, including those matters summarized under the caption "Risk Factors" in CT Communications' Annual Report on Form 10-K for the year ended December 31, 2006. Additional Information and Where to Find It In connection with the proposed Merger, CT Communications has filed with the Securities and Exchange Commission ("SEC") a definitive proxy statement for the CT Communications special meeting of shareholders, which was mailed to the shareholders of CT Communications. CT Communications' shareholders are urged to read the definitive proxy statement and other relevant materials because they contain important information about the transaction and CT Communications. Investors and security holders may obtain a free copy of the proxy statement and other documents filed by CT Communications with the SEC, at the SEC's web site at http://www.sec.gov/. Free copies of the proxy statement and CT Communications' other filings with the SEC may also be obtained from CT Communications by directing a request to CT Communications, Inc., 1000 Progress Place, NE, Post Office Box 227, Concord, North Carolina 28026-0227, Attention: David H. Armistead, Corporate Secretary. CT Communications, Windstream and their respective officers and directors may be deemed to be participants in the solicitation of proxies from CT Communications' shareholders with respect to the transaction. Information about CT Communications' executive officers and directors and their ownership of CT Communications stock is set forth in the definitive proxy statement, which was filed with the SEC on June 6, 2007. Investors and security holders may obtain more detailed information regarding the direct and indirect interests of such potential participants by reading the definitive proxy statement. DATASOURCE: CT Communications, Inc. CONTACT: Jim Hausman, +1-704-722-2410, or Ron Marino, +1-704-722-2212, both of CT Communications, Inc. Web site: http://www.ctc.net/

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