Mpower Communications Completes Exchange Offer
ROCHESTER, NY - August 28, 2000 - Mpower Communications Corp. (Nasdaq:MPWR), a leading provider of broadband data, Internet and telephony services to business customers, today announced the completion of its Exchange Offer and the issuance of $429,463,000 aggregate principal amount of Exchange Notes in exchange for a like principal amount of Outstanding Notes.
Mpower commenced an offer to exchange up to $429,463,000 aggregate principal amount of the company's registered 13% Senior Notes due 2010, Series B for a like principal amount of the company's unregistered 13% Senior Notes due 2010, Series A, pursuant to a prospectus dated July 25, 2000. The Exchange Offer expired at 5:00 p.m. Eastern Time, Friday, August 25, 2000.
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.
