Acquirer of Verizon Affiliates Changes Name to MainStream PCS; New Company Funded by $2.4 Billion to Close Deal in Fall 2000.

Business Editors/Hi-Tech Writers

BERWYN, Pa.--(BUSINESS WIRE)--Sept. 18, 2000

BGV PCS Acquisition Company, LLC ("BGV"), the newly created investment consortium that recently entered into definitive agreements to acquire the businesses containing the personal communication services licenses, operations and related assets of the Chicago and Cincinnati Major Trading Areas ("MTA's") from affiliates of Verizon Communications announced today that it is being renamed MainStream PCS, LLC ("MainStream").

MainStream, which will become one of the top independent wireless providers in the nation following the acquisition of the Midwest Verizon affiliates sometime this fall, is backed by more than $900 million of equity committed by an investor group led by J.P. Morgan Capital Corporation, in partnership with Arlington Capital Partners, The Carlyle Group, First Union Capital Partners, Green Leaf Ridge Company, and Odyssey Investment Partners, LLC.

In addition to the aforementioned investors, Berkshire Partners, LLC, CIVC Partners, LLC, Columbia Capital Partners, LLC III, and Duff, Ackerman, Goodrich & Associates, L.P. have also made significant investments into the entity.

This capital, along with committed debt facilities of $1.45 billion arranged by Deutsche Bank Securities, Inc., who also acted as a financial advisor on the transaction, will be used to effect the acquisition, fund an accelerated network capital expenditure plan, and provide capital for future acquisitions of other wireless properties.

The Chicago and Cincinnati MTA's are ranked the 3rd and 18th most populous markets for wireless service in the United States, respectively, and combined include 20 Basic Trading Areas ("BTA's"). The acquired markets cover a population of more than 16 million and currently provide service to over 400,000 subscribers.

Other key markets acquired in the acquisitions include Dayton-Springfield, Ohio, Fort Wayne, Ind., South Bend, Ind., Springfield, Ill., Peoria, Ill., and Rockford, Ill.

This purchase is the first for MainStream, which was founded by the investor group, the former management team of Triton Cellular Partners, L.P., a cellular service provider whose operating assets were sold to Rural Cellular Corporation earlier in the year, and FirstCall Telephone Corporation ("FirstCall"), a minority owned and controlled telecommunications company.

"We are excited to acquire wireless businesses in some of the top markets in the country," said James Akerhielm, MainStream's president and chief executive officer and the former president and chief executive officer of Triton Cellular Partners. "In addition, we firmly believe that the talented, committed and experienced employees who are currently operating these markets significantly enhance our opportunity for ongoing success. Finally, the strong financial support we received from our investors will facilitate significant capital investment in our network and will support the addition of new employees as we expand on the current sales and customer care efforts," Akerhielm concluded.

MainStream PCS, LLC is headquartered in Berwyn, Pennsylvania.