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DYCOM INDUSTRIES CONFIRMS SHAREHOLDER STOCK SALE TO BURNUP & SIMS

 DYCOM INDUSTRIES CONFIRMS SHAREHOLDER STOCK SALE TO BURNUP & SIMS
 WEST PALM BEACH, Fla., Feb. 24 /PRNewswire/ -- Dycom Industries, Inc. (NYSE: DY) today confirmed that its president and COO, William T. Stover, and a group of shareholders including Billy V. Ray Jr., Robert A. Jones, Robert A. Stoutt, Denny E. McCraw, J. Roland Kimsey, William M. Allen and Robert A. Stoutt Jr. have agreed to sell a part of their Dycom Industries, Inc. common shares to Burnup & Sims Inc. (NASDAQ: BSIM). The company understands that 833,301 shares, representing approximately 9.6 percent of its total outstanding common shares have been sold. Dycom has not been advised of the sales price or of the other particulars of the sale. The selling shareholders continue to own approximately 13.4 percent of Dycom's outstanding shares.
 In a news release issued earlier today, Burnup & Sims has indicated that they wish to acquire Dycom and that the shares in question were purchased as a part of that plan. Nick Caporella, president and CEO, met with Thomas R. Pledger, chairman and CEO of Dycom, on Sunday, Feb. 23, 1992, to advise him of the stock purchase and of Burnup & Sims' desire to acquire Dycom. Caporella requested that he be permitted to address the Dycom board of directors whose regularly scheduled quarterly meeting is in session. Dycom's board of directors has declined to meet with Caporella.
 Dycom's board of directors has appointed a committee of directors to address issues raised by Stover's stock sale and Burnup & Sims' announced interest in acquiring Dycom.
 -0- 2/24/92
 /CONTACT: Thomas R. Pledger, chairman and CEO of Dycom Industries, 407-659-6301/
 (DY BSIM) CO: Dycom Industries; Burnup & Sims ST: Florida IN: TLS SU: TNM


JJ-SS -- FL012 -- 1984 02/24/92 14:51 EST
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Publication:PR Newswire
Date:Feb 24, 1992
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