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NuVox Communications Names Ronald D. Webster CFO

Submitted by: John Warner on Sep 05, 2002 at 5:00 am Tagged with: General Archives Source:

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NuVox Communications Names Ronald D. Webster CFO

Business Editors/High Tech Writers

ST. LOUIS--(BUSINESS WIRE)--Sept. 5, 2002--NuVox Communications, a rapidly
growing, facilities-based integrated communications provider, announced today
that Ronald D. Webster has been elected Executive Vice President and Chief
Financial Officer.
Mr. Webster brings more than 19 years of telecommunications financial
leadership experience to NuVox. He will have responsibility for directing its
finance, accounting and treasury functions.
"Ron's extensive background in financial affairs and his demonstrated
leadership abilities in developing, financing, and operating high-growth
telecommunications companies make him a very strong addition to the NuVox
team," said David L. Solomon, Chairman and Chief Executive Officer of NuVox.
Most recently, Webster served as Executive Vice President and CFO of
o2wireless Solutions, a wireless network infrastructure services provider.
Prior to o2wireless, he served as CFO and in other senior leadership positions
at RCN Corporation, 21st Century Telecom Group, and Telephone and Data Systems.
"NuVox is an exciting, growing company that has been able to post solid
high-growth results during the most turbulent times in telecom," said Webster.
"I look forward to joining this outstanding team and being a part of its
ongoing success," Webster said.
Webster has a Bachelor of Science degree in Accounting from the University
of Illinois and a Masters of Business Administration in Finance from the
University of Chicago.
NuVox provides reliable, integrated communications services to
approximately 15,000 on-net business customers in 30 markets in 13 contiguous
states across the Midwest and Southeast United States. NuVox ended the second
quarter of 2002 with $139 million of annualized revenues (a 70 percent
year-to-year increase) and all of its markets reporting positive gross margins.
Annualized broadband revenues increased 110 percent from $58 million and 71
percent of total revenues in June 2001 to $122 million and 88 percent of total
revenues in June 2002. Core broadband revenues include revenues from NuVox's
Broadband Bundle, an integrated local, long distance, and high-speed Internet
access product, and its broadband data communications services.
On August 14, 2002, NuVox announced that it had raised $78.5 million of
additional capital to finance its operations and had reduced its outstanding
debt under its credit facility to $26.3 million principal amount of senior
secured notes due 2006 and a junior unsecured discount note due 2008 with an
initial accreted value of $10.3 million and an accreted value at maturity of
$21.7 million. On a pro-forma basis as of June 30, 2002, giving effect to the
additional financing and the repayment of indebtedness, NuVox's cash and cash
equivalents totaled approximately $65.5 million. NuVox estimates that this
amount will be sufficient to fully fund its operations in accordance with its
business plan.

About NuVox Communications

NuVox Communications is the integrated communications provider of choice,
delivering superior broadband services and customer care to business customers
in 30 markets in 13 Southeast and Midwest states. NuVox offers businesses and
other end-users advanced integrated voice, data, and Internet products and
services. The Company provides dedicated and dial-up high-speed Internet
access; Web page design, development and hosting; "traditional" local and long
distance telephone services; and unified voice, e-mail, and fax messaging as
well as advanced data services. NuVox's growing product portfolio also includes
LAN and WAN management, virtual private networks, audio conferencing, and
remote access. NuVox provides its integrated voice and data services to
approximately 15,000 on-net customers with approximately 210,000 on-net access
lines in service. NuVox, Inc. is privately held, and its headquarters are
located at 16090 Swingley Ridge Road, Suite 500, in Chesterfield, MO 63017. The
NuVox Communications Web site URL is www.nuvox.com.

Forward-Looking Statements

Some of the statements contained in this press release that are not
historical facts are "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and are subject to known and
unknown risks, uncertainties and other factors that could cause actual results
to differ materially from those contemplated by these statements. These
forward-looking statements are based on various factors and have been derived
using numerous assumptions. These forward-looking statements generally can be
identified by the use of forward-looking terminology such as "will," "may,"
"should," "believe," "intend," "expect," "anticipate," "project," "estimate" or
"predict" or the negative thereof or other variations thereon or comparable
terminology. NuVox wishes to caution readers of this press release that these
forward-looking statements regarding matters that are not historical facts are
only our predictions, assumptions and estimates regarding future events and
circumstances. Accordingly, NuVox can give no assurance that these predictions
and estimates will be realized. Actual events or results may differ materially
as a result of risks and uncertainties facing us, including risks and
uncertainties regarding the continued development of our business and the
markets for our services and products, the negative impacts of the downturn in
the economy and the sufficiency of our capital.

--30--SOS/ch*

CONTACT: NuVox Communications
Randy McDougald, 864/331-8133; rmcdougald@nuvox.com

KEYWORD: MISSOURI FLORIDA SOUTH CAROLINA NORTH CAROLINA GEORGIA
TENNESSEE KENTUCKY OHIO INDIANA ILLINOIS ARKANSAS OKLAHOMA KANSAS
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS INTERNET NETWORKING
TELECOMMUNICATIONS MANAGEMENT CHANGES
SOURCE: NuVox Communications