Mpower Communications Extends Exchange Offer
ROCHESTER, NY - August 23, 2000 - Mpower Communications Corp. (Nasdaq:MPWR), a leading provider of broadband data, Internet and telephony services to business customers, today announced the extension of its Exchange Offer commenced on July 26, 2000 whereby $429,463,000 aggregate principal amount of the Issuers' registered 13% Senior Notes due 2010, Series B were to be exchanged for a like principal amount of the Issuers' unregistered 13% Senior Notes due 2010, Series A, pursuant to a prospectus dated as of July 25, 2000.
As of 5:00 p.m. Eastern Time, Tuesday, August 22, 2000, the date initially set by the Issuers for the expiration of the Exchange Offer, holders of Outstanding Notes had tendered $425,326,000 aggregate principal amount of Outstanding Notes in the Exchange Offer. The Issuers have extended the Exchange Offer to the earlier of 5:00 p.m. Eastern Time, Friday, August 25, 2000 or such time as holders of all $429,463,000 aggregate principal amount of Outstanding Notes tender their Outstanding Notes in the Exchange Offer.
During this extension, all Outstanding Notes tendered and not withdrawn prior to 5:00 p.m. Eastern Time on August 22, 2000 remain subject to the Exchange Offer.
About Mpower Communications Corp.
Mpower Communications Corp. (Nasdaq: MPWR) is 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. The company is quickly expanding its industry-leading Voice over Symmetrical Digital Subscriber Line (VoSDSL) footprint and plans to serve the top 50 metro markets in the country by mid 2001. Headquartered in Rochester, NY, the company employs more than 2,200 people nationwide. Mpower ranked 12th in the Bloomberg Tech 100 listing of the fastest growing technology companies in the United States based on sales growth for the 1999 fiscal year. Further information about the company can be found at
www.mpowercom.com.
Forward-Looking Statements
Certain statements contained in this press release that state Mpower Communications and/or 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 as a result of risks and uncertainties including, but not limited to, projections of future sales, returns on invested assets, regulatory approval processes, market conditions and other risks detailed from time to time in Mpower's Securities and Exchange Commission filings.
