CTE Board of Directors Authorizes Stock Repurchase Program.

Business Editors/High-Tech Writers

DALLAS, Pa.--(BUSINESS WIRE)--Nov. 13, 2003

Commonwealth Telephone Enterprises, Inc. ("CTE") (Nasdaq: CTCO), today announced that its Board of Directors has authorized a stock repurchase program of up to $100 million of CTE's common stock in open market, negotiated or block transactions. CTE currently has approximately 24 million shares of common stock outstanding.

Repurchased shares will be placed in Treasury and may be used for the Company's employee benefit plans or for other general corporate purposes. No time limit was set for the completion of the stock repurchase program. The repurchases will be executed at CTE's discretion, based on ongoing assessments of the Company's capital needs and the market value of CTE's common stock.

"This repurchase program is consistent with our commitment to increasing shareholder value, and reflects our confidence in the strength of our business and our future operating and financial success," said Michael J. Mahoney, CTE's president and chief executive officer. "We believe we have an opportunity to buy back our shares at attractive levels, and our strong cash position allows us to implement this program without impacting our long-term plans."

About CTE

Headquartered in Dallas, PA, Commonwealth Telephone Enterprises, Inc., serves a growing base of business and residential customers with the full array of technologically advanced data and voice telecommunications products and services, including broadband data services and high-speed Internet access, delivered over its 100% digitally switched, fiber-rich network.

CTE's primary operating segments are: Commonwealth Telephone Company ("CT"), the nation's 7th largest publicly held independent local exchange carrier, which has been operating in various rural Pennsylvania markets since 1897; and, CTSI, LLC ("CTSI"), a local exchange carrier operating in competitive markets outside CT's territory, that formally commenced operations in 1997. CTE's support businesses include epix(R)Internet Services (www.epix.net), one of the Northeast's largest rural Internet Service Providers ("ISPs"); and, Jack Flash(R), a broadband data service that uses DSL technology to offer high-speed Internet access and digital connectivity solutions. Additionally, CTE operates two other support businesses that provide products, services and expertise to its CT and CTSI operations. These businesses are Commonwealth Communications, a provider of telecommunications equipment and facilities management services; and, CLD, a long-distance reseller.

A web site featuring current information regarding Commonwealth Telephone Enterprises, Inc., can be found on the Internet at www.ct-enterprises.com.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release is forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect expected results in the future and cause them to be different from those expressed in any forward-looking statements made by, or on behalf of, the Company. These risks and uncertainties include, but are not limited to, uncertainties related to the Company's ability to further penetrate its markets and the related costs of that effort, economic conditions, acquisitions and divestitures, government and regulatory policies, the pricing and availability of equipment, materials and inventories, technological developments and changes in the competitive environment in which the Company operates and receipt of necessary approvals.