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Citizens Communications Authorizes Purchase of Electric Lightwave Shares.


Business Editors

STAMFORD, Conn.--(BUSINESS WIRE)--Aug. 1, 2000

The Board of Directors of Citizens Communications Citizens Communications is the parent company of Frontier Telephone, providing telephone and internet access in 24 states.

The company headquarters are located at 3 High Ridge Park in Stamford, Connecticut.
 Company (NYSE NYSE

See: New York Stock Exchange
: CZN) announced today that it has authorized au·thor·ize  
tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es
1. To grant authority or power to.

2. To give permission for; sanction:
 the purchase by Citizens, from time to time, of up to 1 million shares of Electric Lightwave, Inc. (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
: ELIX), its 83%-owned subsidiary, on the open market or in negotiated transactions.

Citizens recently completed the purchase of $25 million of Electric Lightwave common stock, which was authorized in April.

The share purchase program will permit the grant of options and restricted shares to Electric Lightwave employees and will maintain Citizens' ownership position at a level permitting continued tax consolidation.

Citizens Communications provides telecommunications services In telecommunication, the term telecommunications service has the following meanings:

1. Any service provided by a telecommunication provider.

2.
 to more than 1 million customers in 14 states. In 1999 and 2000, Citizens agreed to purchase over 2 million additional access lines in 19 states. The first of these transactions, in Nebraska, closed on June 30; the remainder will continue to close throughout the next 12 months. Citizens also owns 83% of Electric Lightwave, Inc. (NASDAQ: ELIX), a facilities-based, integrated communications provider that offers a broad range of services to telecommunications-intensive businesses throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . More information about Citizens can be found at www.czn.net.

This document contains forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the statements. These and all forward-looking statements (including oral representations) are only predictions or statements of current plans that are constantly under review by the company. All forward-looking statements may differ from actual results because of, but not limited to, changes in the local and overall economy, changes in market conditions for debt and equity securities, the nature and pace of technological changes, the number and effectiveness of competitors in the company's markets, success in overall strategy, changes in legal or regulatory policy, changes in legislation, the company's ability to identify future markets and successfully expand existing ones, the mix of products and services offered in the company's target markets, the effects of acquisitions and dispositions and the ability to effectively integrate businesses acquired. These important factors should be considered in evaluating any statement contained herein and/or made by the company or on its behalf. The foregoing information should be read in conjunction with the company's filings with the U.S. Securities and Exchange Commission including, but not limited to, reports on Forms 10-K and 10-Q. The company does not intend to update or revise these forward-looking statements to reflect the occurrence of future events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact.
     2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or
.
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Publication:Business Wire
Date:Aug 1, 2000
Words:422
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