Mpower Completes Sale of Michigan and Ohio Operations to LDMI
ROCHESTER, NY—March 19, 2003—Mpower Communications Corp. (AMEX:MPE), a provider of integrated data and voice services to business customers, today completed the sale of its Detroit, Cleveland and Columbus assets and customer bases to LDMI Telecommunications, an integrated communications provider serving primarily business customers in the Great Lakes region.
Mpower announced agreements to sell these markets to LDMI on January 8, 2003. Terms were not disclosed. LDMI has retained the majority of Mpower employees in these markets and is transitioning Mpower customers to LDMI with no interruption or change in their service.
About Mpower Holding Corporation
Mpower Holding Corporation (AMEX:MPE) is the parent company of Mpower Communications, a facilities-based broadband communications provider offering a full range of data, telephony, Internet access and Web hosting services for small and medium-size business customers. Further information about the company can be found at www.mpowercom.com.
Forward-Looking Statements
Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Mpower Holding Corporation cautions investors that certain statements contained in this press release that state management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. Management wishes to caution the reader these forward-looking statements are not historical facts and are only estimates or predictions. Actual results may differ materially from those projected as a result of risks and uncertainties including, but not limited to, the consummation of the remaining previously announced asset sales, the expected financial and operational improvements from the transactions described herein, market makers independent decisions to create a market in the common stock of the company, future sales growth, market acceptance of our product offerings, our ability to secure adequate financing or equity capital to fund our operations, network expansion, our ability to manage rapid growth and maintain a high level of customer service, the performance of our network and equipment, our ability to enter into strategic alliances or transactions, the cooperation of incumbent local exchange carriers in provisioning lines and interconnecting our equipment, regulatory approval processes, changes in technology, price competition and other market conditions and risks detailed from time to time in our Securities and Exchange Commission filings. The company undertakes no obligation to update publicly any forward-looking statements, whether as a result of future events, new information, or otherwise.
