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Charys Holding Company Subsidiary to Acquire Florida Tel-Con.


ATLANTA -- Ayin a·yin  
n.
The 16th letter of the Hebrew alphabet. See Table at alphabet.



[Hebrew 'ayin, eye, ayin; see
 Holding Company, Inc. ("Ayin"), a wholly-owned subsidiary of Charys Holding Company, Inc. ("Charys") (OTC Bulletin Board OTC Bulletin Board

An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system.
: CHYS) announced today that it executed a definitive agreement, dated December 20, 2006, whereby it will acquire all of the common stock of Florida Tel-Con, Inc. ("FTC FTC

See Federal Trade Commission (FTC).
"). FTC, headquartered in Green Cove Springs, FL, which will operate as a wholly-owned subsidiary of Ayin working in tandem Adv. 1. in tandem - one behind the other; "ride tandem on a bicycle built for two"; "riding horses down the path in tandem"
tandem
 with Viasys Services, Inc. ("Viasys") to augment Charys' growth in Telecom Services Business.

Pursuant to the terms of the amended agreement, Ayin today paid 456,147 shares of Charys common stock, as a deposit, as well as entered into a Seller's Note for $3.35 million. Closing is anticipated on or before March 19, 2007.

FTC was established in 1994 as a turn-key telecommunications construction company providing infrastructure deployment, integration and tower maintenance for wireless communications wireless communications

System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data.
. Under the direction of its President and founder, Edwin Rock, FTC has successfully positioned itself as one of the elite contractors for many of the leading wireless telecom carriers, such as Verizon, Nextel, Sprint, Cingular Wireless as well as top design firms, such as Lucent Technologies and Bechtel. FTC recorded revenues of $10.1 million in 2004 and $11.8 million in 2005 with income from operations of $362,000 in 2004 and $700,000 in 2005 on their unaudited financial statements.

Billy Ray, Jr., Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Charys commented, "Ed has put together a versatile team of general contractors that cover all facets of telecommunication infrastructure services. From site inspection, tower erection and building Fiber Optic and switching facilities, they deliver 100% customer satisfaction in a timely and cost-effective manner. FTC is the latest component in our continuing approach of meeting the demand driven market for wireless telecommunications. With LFC LFC Liverpool Football Club
LFC Lake Forest College (Lake Forest, IL)
LFC Level of Free Convection (meteorology)
LFC Large Format Camera
LFC Load Frequency Control
, CTSI CTSI Census Tract Street Index (US Census Bureau)
CTSI California Traffic Safety Institute
CTSI Corbett Technology Solutions, Inc. (Chantilly, VA)
CTSI Central Terminal Signaling Interface
, MSAI MSAI Malaysian Society of Allergy and Immunology  and the anticipated acquisition of FTC, we have now expanded our tower platform to cover the entire southeastern United States. In addition the anticipated acquisition of FTC will facilitate the transition of Viasys' sales mix sales mix

See product mix.
 to a more telecom oriented high-margin business."

Edwin Rock, CEO and founder of Florida Tel-Con stated, "We are delighted to have the opportunity to become a part of Charys Holding Company. The business strategy and execution of their plans is a great match for FTC, and their corporate values and focus on customer service matches our business traditions perfectly."

Mr. Ray added, "Florida Tel-Con is expected to add another critical dimension to our ongoing strategy of becoming a complete solution provider. Our customers continue to ask us to perform more functions in more areas, and FTC will allow us to immediately meet more of that demand. Ed has built a great company in FTC, and we couldn't be happier to have him, and his entire professional team join Charys."

About Charys Holding Company, Inc.

Headquartered in Atlanta, Georgia, Charys Holding Company, Inc. (OTC Bulletin Board: CHYS.OB) is a publicly traded company publicly traded company

A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market.
 focusing on the Integrated Infrastructure Services Market. This market segment is fundamentally focused on environmental remediation and on upgrading the underpinning, infrastructure, and back office operations of the telecommunication, cable, electric, and Internet industries serving consumers, businesses and government entities. Charys' principal strategy is to acquire, through mergers and acquisitions, companies that support this underserved segment. Charys subsidiaries include: Cotton Companies, Crochet & Borel Services, Inc., Aeon Technologies, CCI CCI Chambre de Commerce et d'Industrie (France)
CCI CAM (Complementary and Alternative Medicine) Citation Index
CCI Chamber of Commerce and Industry (Western Australia) 
 Telecom, Inc., Viasys Services, Inc., Personnel Resources of Georgia, Inc., Method IQ, Inc., Digital Communication Services, Inc., Ayin Holding Company, Inc., Complete Tower Sources, Inc., and Mitchell Site Acq. Inc.

For more information about Charys visit http://www.charys.com and http://www.corporateevolutions.com/chys.php

NOTE: The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

Some statements in this release, including statements regarding management's expectations for future financial results and access to capital markets, are forward-looking statements. Investors are cautioned that these forward-looking statements regarding Charys Holding Company, Inc. and its subsidiaries and its and their operations and financial results involve risks and uncertainties, including without limitation risks of accessing capital markets on terms acceptable to Charys, downturns in economic conditions generally and in the telecommunications and data communications markets; risks in product development and market acceptance of and demand for Charys products; risks of failing to attract and retain key managerial and technical personnel; risks associated with competition and competitive pricing pressures; risks associated with investing in new businesses; risks related to intellectual property rights and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
; risks in technology development and commercialization.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Dec 20, 2006
Words:743
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