Falcon Communications Solutions, Inc. acquires Compu-Phone, Inc. of Maryland

Wednesday, August 08, 2001

Manassas, Virginia, August 08, 2001- Falcon Communications Solutions, Inc., announced today they have closed on the acquisition of Compu-Phone, Inc., of Maryland. Terms of the sales were not disclosed.

Falcon's president and CEO Creston M. Owen made the following statement, "Today is a big day for the Falcon and Compu-phone family. After several months of negotiations, I am pleased to announce that the deal has been consummated. With this acquisition, Falcon will be one of the largest privately owned telecommunications products and services companies in the Mid Atlantic Region."

 
As a result of the acquisition, the company's revenues are projected to be in excess of 10 million dollars annually. Falcon will retain a large presence in Maryland as well as operating service depots in Suburban Maryland, Warrenton Virginia, and Fredericksburg Virginia.

Compu-Phone's President and CEO, Dawn Spain commented, "When I decided to sell our business I was most concerned about my 5000 customers that had placed their trust in us for over 17 years. Falcon has clearly established themselves as a leader in this industry and I felt that Creston and his team would work the hardest to keep my customers serviced."

Owen said, "Dawn's retirement does not mean she is done. She will stay active in the business for several months wrapping up loose ends with the business. She has also agreed to serve on Falcon's Board Of Advisors. Her extensive industry knowledge and contacts will be a great asset to Falcon for years to come. I am proud that she has selected Falcon as her partner."

Owen added, "Falcon's growth over the past five years has been nothing short of spectacular. In FY 2000, Falcon achieved new heights in sales and profitability. In these current economic times, it is good to know that businesses are continuing to grow and prosper. We are please to bring many of the Compu-Phone employees into the Falcon family, and look forward to adding even more jobs in the next 6 months."

About Falcon Communications Solutions, Inc.

Falcon Communications Solutions, Inc is a full service telecommunications company that offers high-end communications products and services. This client-focused company has received numerous prestigious awards and enjoys partnership with industry top names.