Electric Lightwave acquires TeleCard Services International Inc.

VANCOUVER, Wash.--(BUSINESS WIRE)--Nov. 8, 1996--Electric Lightwave Inc. (ELI), a Vancouver-based full-service communications provider, announced today that it has acquired TeleCard Services International (TCSI) of Portland, Ore.

Terms of the sale were not disclosed.

TCSI, which began in 1994, provides wholesale, prepaid calling card services to small and medium-sized businesses nationally and internationally.

"ELI was looking to enter the prepaid calling card business and do it in the most cost-effective way," ELI President Dave Sharkey said. "With this acquisition, we've accomplished that and gained an established name in a very young industry."

Russell Davis, founder and president of TCSI, will remain at the helm of ELI's new telecard division. Davis said the timing "couldn't have been better" from TCSI's perspective.

"We wanted to take this company to the next level," Davis said. "With ELI's local and long distance networks, marketing and sales resources and its solid reputation as a full-service communications company, there's no limit to what we can achieve."

TCSI's staff will remain intact and the company will continue operations at its current location near Portland International Airport.

ELI is a full-service communications company which owns and operates telecommunications systems in several western states. ELI is a subsidiary of Citizens Utilities (NYSE:CZNA/CZNB), a diversified growth company offering full-service telecommunications, gas, electric and water services to 1.8 million customers in 20 states.

Citizens also has a significant investment in Centennial Cellular Corp., a cellular telephone company, and an investment in Hungarian Telephone and Cable Corp.

CONTACT: Electric Lightwave

John Unverferth, 360/896-3217