Centennial Cellular Announces Record Results For the First Quarter Ended August 31, 1997.

NEW CANAAN, Conn.--(BUSINESS WIRE)--Oct. 7, 1997--Centennial Cellular Corp. announced record results for the quarter ending August 31, 1997 today.

Total revenues for the quarter were $52,853,000 up $20,488,000 or 63.3% over the revenues of $32,365,000 in the three month period ended August 31, 1996.

Operating income before depreciation and amortization for the three months ended August 31, 1997 was $22,934,000, an increase of $7,852,000 or 52.1% over the $15,082,000 recorded for the three month period ended August 31, 1996.

Revenue from Centennial's domestic wireless telephone business was $45,133,000 for the three months ended August 31, 1997, an increase of $12,768,000 or 39.5% over revenues of $32,365,000 recorded for the three months ended August 31, 1996. Operating income before depreciation and amortization for the quarter ended August 31, 1997 in Centennial's domestic wireless telephone business was $23,313,000, an increase of $6,853,000 or 41.6% above the quarter ended August 31, 1996.

The Puerto Rico Wireless Telephone System began operations on December 12, 1996. Revenue from the Company's Puerto Rico Wireless Telephone System for the three months ended August 31, 1997 was $7,720,000. The operating loss before depreciation and amortization in the Puerto Rico Wireless Telephone System for the three months ended August 31, 1997 was $379,000. This operating loss was significantly reduced as compared to the immediately preceeding quarter ended May 31, 1997 of $2,730,000. This dramatic improvement is the result of significant customer and revenue gains achieved in the August quarter.

The net loss for the quarter was $6,786,000 compared to a loss of $6,107,000 for the quarter ended August 31, 1996. After dividends payable on preferred stock, the Company's loss per common share was $(.41) and $(.36) for the quarters ended August 31, 1997 and 1996, respectively.

The Company's wireless telephone subscribers at August 31, 1997 were 231,600 as compared to 140,600 at August 31, 1996, an increase of 91,000 subscribers or 64.7%. Domestic wireless telephone subscribers increased by 58,200 or 41.4% from 140,600 subscribers at August 31, 1996, due primarily to internal growth of subscribers in systems which it owned and operated at August 31, 1996. Subscribers of the Company's Puerto Rico Wireless Telephone System totaled 32,800 at August 31, 1997 and represented 36.0% of the Company's total subscriber increase.

On August 13, 1997, the Company announced that its Board of Directors had authorized the repurchase, from time to time, in open market and privately negotiated transactions, of up to an additional 3,000,000 shares of its Class A Common Stock, depending on prevailing market conditions. The Company had previously authorized the repurchase of up to 1,000,000 shares of its Class A Common Stock. Through October 6, 1997 the Company has purchased 542,000 shares of such common Stock and after giving effect to these shares purchased, the Company is authorized to purchase 3,458,000 additional shares of Class A Common Stock.

Centennial Cellular Corp. acquires, operates, and invests in wireless telephone systems throughout the continental United States and the Commonwealth of Puerto Rico. The Company's current wireless telephone interests represent approximately 10.1 million Net Pops. Approximately 6.5 million of these Net Pops are represented by the Company's wireless telephone systems located in the continental United States, including approximately 1.1 million Net Pops related to the Company's minority equity investments in partnerships owning wireless telephone systems. The balance of approximately 3.6 million Net Pops represents the Company's interest in its wireless telephone systems in Puerto Rico. -0-

                       Centennial Cellular Corp.

                     Three Months          Three Months     % Change
                     Ended 8/31/97         Ended 8/31/96

Revenue from
 wireless telephone
 services             $ 52,189,000         $ 31,623,000      65.0%
Interest income            664,000              742,000     (10.5)%
Total revenues          52,853,000           32,365,000      63.3%
Operating income before
 deprec. & amortization 22,934,000           15,082,000      52.1%
Operating loss          (2,128,000)          (3,399,000)    (37.4)%
Interest expense        10,705,000            7,041,000      52.0%
Net Loss                (6,786,000)          (6,107,000)     11.1%
Net Loss per share(a)         (.41)                (.36)
Average number
 of shares              26,860,000           26,932,000

(a) After preferred stock dividends

CONTACT: Centennial Cellular Corp., New Caanan

Scott Schneider, CFO,

Senior Vice President and Treasurer

203/972-2000