CTC Communications Corp. Reports Financing Progress.WALTHAM, Mass.--(BUSINESS WIRE)--July 10, 1998--In response to investor inquiries, John Pittenger, Executive Vice President of CTC CTC - Cornell Theory Center Communications Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPTL CPTL Compagnie des Pétroles Total Libye (Total SA Group Affiliates) CPTL Center for Trade Policy and Law (Carleton University; Ottawa, Canada) ) reported today that the Company is actively engaged in the final stages of negotiations to complete arrangements for alternative sources of financing to its recently announced plans to provide necessary funds for its proposed expansion. Mr. Pittenger stated that the Company is highly optimistic that is will be successful in obtaining the financing required for expansion based upon the favorable responses received from the financial institutions with which its is dealing contrary to the report recently released by uninformed sources. CTC is a rapidly growing provider of integrated communications solutions to small and medium sized business customers in the Northeastern U.S.. It provides an extensive array of voice and data services including local, long distance, enhanced telephone services, frame relay, Internet access and T1and ISDN ISDN in full Integrated Services Digital Network Digital telecommunications network that operates over standard copper telephone wires or other media. services. The Company markets its services through its 170 members direct sales force throughout Massachusetts, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Connecticut, New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). , Vermont and Maine. CTC's headquarters is in Waltham, MA and can be found on the World Wide Web at http://www.ctcnet.com. The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risk and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are, accordingly, cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Additional information about these risks and uncertainties is set forth in the Company's most recent report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . CTC undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect results, events or circumstances after the date hereof.
CONTACT: CTC Communications Corp.
John D. Pittenger, (781) 466-1302
http//www.ctcnet.com
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