Bernstein Liebhard & Lifshitz Commences Class Action on Behalf of Purchasers of Able Telecom Common Stock.

NEW YORK--(BUSINESS WIRE)--Oct. 12, 1998--A securities class action lawsuit has been commenced on behalf of purchasers of the common stock of Able Telecom Holding Corp. (Nasdaq:ABTE) ("Able Telecom" or the "Company"), between December 4, 1997, and September 1, 1998, inclusive (the "Class Period"), in the United States District Court for the Southern District of Florida.

The lawsuit alleges violations of the federal securities laws and names as defendants the Company and certain of its officers and directors.

The complaint charges Able Telecom and certain of its officers and directors with violations of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges that the defendants made material misrepresentations in the Company's public statements and public filings regarding the Company's revenues, earnings, financial condition and its growth prospects.

In particular the complaint alleges that, among other things, defendants (i) failed to timely and fully disclose the financial condition of one of the companies it had acquired; (ii) misrepresented that following Able Telecom's acquisition of MFS Network Technologies, Inc. ("NT"), certain key senior executives of NT would stay on to work for Able Telecom when defendants knew that they would not stay on; (iii) failed to timely and fully disclose the dilution of shareholder value due to the Company's issuance of "bottomless" convertible bonds to finance the NT acquisition and (iv) failed to disclose that the Company's financing of the NT acquisition violated Able Telecom's prior debt arrangements, causing the Company to become immediately liable for the repayment of its long term debt.

Plaintiff seeks to recover damages on behalf of all purchasers of Able Telecom common stock during the Class Period.

If you purchased Able Telecom stock during the Class Period, and either lost money on the transaction or still hold the stock, you may wish to join in the action to serve as lead plaintiff.

In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers within 60 days from September 10, 1998. This early notice to class members is being made pursuant to applicable law.

Plaintiff has selected Bernstein Liebhard & Lifshitz as one of the law firms to represent the Class. The attorneys at Bernstein Liebhard & Lifshitz have extensive experience in securities class action cases, and have played lead roles in major cases over the past several years which have resulted in recoveries of tens of millions of dollars to investors.

The attorneys at Bernstein Liebhard & Lifshitz have been recognized by courts for the high quality of their legal representation of defrauded investors. The firm also has extensive experience in corporate and shareholder litigation, consumer protection and other areas of complex litigation.

If you would like to discuss this action or if you have any questions regarding this Notice or your rights as a potential class member or lead plaintiff, you may contact: Robert J. Berg, Esq. or Michael S. Egan, Esq., at Bernstein Liebhard and Lifshitz, 274 Madison Avenue, Suite 702, NewYork, New York 10022, [phone] or [phone]; Fax: [phone], or by e-mail at [e-mail].