Charys Holding Company Reports 2007 Fiscal Third Quarter Results of Operations.

ATLANTA -- Charys Holding Company, Inc. ("Charys" or the "Company") (OTC Bulletin Board: CHYS), a company focused on the high growth Remediation and Reconstruction and Wireless Communications and Data Infrastructure sectors, today announced its financial results for the three and nine month periods ended January 31, 2007. These reported results do not include revenues reflecting the recently completed acquisition of 100% interest in Cotton Companies ("Cotton"). The results also do not include revenues from the acquisitions of Complete Tower Sources, Inc. ("CTSI") and Mitchell Site Acquisition, Inc. ("MSAI"), the completion of which took place in the 2007 fourth fiscal quarter. Also included in this release are pro forma non-GAAP financial results which reflect the impact of previously announced acquisitions and adjustments for certain charges to demonstrate the business operations' managed earnings.

Third Quarter Financial Highlights:

Highlights of the 2007 third quarter performance, as compared to the 2006 third quarter, are:

* GAAP net revenue decreased for the quarter due to strategic sales mix changes:

        -- The restructuring of CCI services to eliminate low margin
           construction projects and re-focus on higher margin
           telecommunications services increasing overall gross margin
           from 12% to 25% incremental margins.

        -- Transition of the Viasys sales mix from transportation and
           industrial maintenance to a greater telecommunications
           focus offering higher growth and increased gross margins.

* Pro forma non-GAAP revenue increased 85% to $40.4 million compared with $21.8 million for the third quarter 2006. The increased revenue is attributable to the inclusion of acquisitions previously announced.

* Financing activity generated non-cash interest expense charges of $22.1 million and the Company incurred $526,000 in redemption premiums.

* GAAP operating income was negative $32.6 million or $0.87 per share on a basic and diluted basis.

* Operating income on a pro forma non-GAAP basis increased 81% to $2.2 million or $0.06 per share on a basic and fully diluted basis.

* EBITDA of negative $4.7 million and pro forma non-GAAP EBITDA of $6.2 million.

"With the completion of the financing necessary to finalize the CTSI, MSAI and Cotton transactions at the start of our fourth quarter, Charys will finally be able to include the results of these wholly owned subsidiary operations as reported numbers rather than pro forma. The fourth quarter will also be impacted by the payment of redemption premiums on the convertible debentures and write-offs of financing cost that were being amortized over the life of the debentures. Charys continues to recognize significant non-cash charges associated with its warrants and options as a result of the Black-Scholes calculations as required by FASB 123R. As we move forward with the integration of the Disaster Remediation and Telecommunication divisions we expect to see a clearer picture of the operations of Charys." said Billy V. Ray, Jr., Chairman and CEO of Charys.

Nine Month Financial Highlights:

Highlights for the nine months ending January 31, 2007 as compared to the nine months ending January 31, 2006, are:

* GAAP net revenue of $57 million increased 73% from $33 million, attributable to the inclusion of the acquisitions made in the third and fourth quarters of fiscal 2006 as well as the inclusion of Crochet and Borel Services, Inc. ("C&B"), LFC, Inc. ("LFC"), and Digital Communication Services, Inc. ("DCS") in the first fiscal quarter of 2007.

* Pro forma non-GAAP revenue increased to $136.3 million for the nine months, reflecting the impact for the full period of revenues from the Company's acquisition of 100% interest in Cotton Companies ("Cotton"), Florida Tel Con ("FTC"), Complete Tower Sources, Inc. ("CTSI") and Mitchell Site Acq. Inc. ("MSAI") in the fourth fiscal quarter of 2007.

* Financing activity generated non-cash interest expense charges of $29 million and the Company incurred $1.7 million in redemption premiums for the nine months.

* GAAP operating income was negative $67.7 million or $2.22 per share on a basic and diluted basis.

* Operating income on a pro forma non-GAAP basis increased $6.7 million or $0.22 per share on a basic and fully diluted basis.

* EBITDA was negative $8 million and pro forma non-GAAP EBITDA increased to $24.7 million.

Selected GAAP results of operations for the three and nine month periods ending January 31, 2007 are as follows:

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Selected Balance Sheet information as of January 31, 2007, October 31, 2006, July 31, 2006 and April 30, 2006.

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For the nine months ended January 31, 2007, Charys incurred a non-cash charge of $17.2 million for impairment to goodwill based on the annual evaluation for MIQ and Viasys. SFAS No. 142 requires the Company to review the recorded values of our goodwill for impairment on an annual basis. Goodwill arises from the purchase price exceeding the assigned value of net assets of acquired businesses, and represents the value attributable to unidentifiable intangible elements being acquired. The evaluation methodology is inherently complex, and involves significant management judgment in the use of estimates and assumptions. The evaluation was prepared using the help of independent appraisers using the discounted cash-flow method.

For the quarter ended January 31, 2007 Charys financing activity generated non-cash charges, reported as interest expense of $22.1 million for the current quarter and $29.0 million for the nine month period ended January 31, 2007. In addition the Company incurred redemption premiums of $526,000 and $1.7 million for the quarter and nine month ended January 31, 2007. Net earnings after interest and amortization expense for the quarter and nine month period ended January 31, 2007 were negative $32.6 million or $0.87 per share on a basic and diluted basis and $67.7 or $2.22 per share on a basic and diluted basis respectively. For the quarter and nine month period ended January 31, 2006, the Company reported net earnings of $364,000 or $0.03 per share on a basic basis and $0.02 on a diluted basis and $1.3 million or $0.13 per share on a basic basis and $0.11 on a diluted basis respectively.

"The results on a pro-forma comparative basis continue to show our significant gains in revenues for Charys, while the reported revenue levels for the quarter were impacted by several factors which the Company continues to positively address. The delay in funding of awarded post Katrina projects and the lower than anticipated revenues from the absence of a significant hurricane season become offset with the less seasonally sensitive business volume from Cotton, CTSI and MSAI, as well as the continued successful integration of the Wireless Communications and Data Infrastructure line of business and the transition to a higher value sales mix. Our strategy continues to center on our customers, and increasing the total value we provide to them. Our customers tell us they are pleased with our progress. And then, for the increased value they receive from us, they continue to award us more of their key business opportunities," stated Mr. Ray.

An earnings report conference call is being scheduled, with the date, time and call in number to be announced at a later time.

About Charys Holding Company, Inc.

Headquartered in Atlanta, Georgia, Charys is a publicly traded company providing infrastructure services in two primary markets. In the remediation and reconstruction markets, Charys services include emergency planning and coordination, response to catastrophic losses, reconstruction and restoration and environmental remediation. In the wireless communications and data infrastructure markets Charys provides an array of services including engineering, program management, construction, installation and maintenance, tower services, radio and advanced technology implementation and integration services to large service providers and other business enterprises.

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon Charys' current expectations and speak only as of the date hereof. Actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including uncertainties as to the nature of the industry, including changing customer demand, the impact of competitive products and pricing, dependence on existing management and general economic conditions. Charys' Annual Report on Form 10-KSB, recent and forthcoming Quarterly Reports on Form 10-QSB, recent Current Reports on Form 8-K and other SEC filings discuss some of the important risk factors that may affect Charys' business, results of operations and financial condition. Management undertakes no obligation to revise or update publicly any forward-looking statements for any reason.