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LCI INTERNATIONAL ANNOUNCES DRAMATIC IMPROVEMENT IN THIRD QUARTER AND YEAR-TO-DATE RESULTS

 LCI INTERNATIONAL ANNOUNCES DRAMATIC IMPROVEMENT
 IN THIRD QUARTER AND YEAR-TO-DATE RESULTS
 DUBLIN, Ohio, Oct. 21 /PRNewswire/ -- LCI International today reported third quarter 1992 revenues of $67 million versus $56.6 million for the same quarter in 1991 (an 18.5 percent increase) and operating income of $5.9 million vs. $1.3 million, respectively for the same periods. The 1991 operating income included a one-time restructuring charge of $2.4 million. On a comparable basis, quarterly operating income showed a 59 percent increase over 1991.
 Similarly, LCI has continued to generate significant growth in volume: switched minutes of use, frequently used by the industry as a measure of operating performance, increased 28.6 percent for the same period, from 336 million minutes in the third quarter of 1991 to 432 million this year.
 LCI's growth has been driven by a variety of new programs and promotions including the company's new nationwide origination, simplified pricing approaches and a focused sales attack on both its existing market and new cities in the east, midwest and southeast areas of the country.
 "LCI's strong performance in the third quarter demonstrates that the company has made a major turnaround from its 1991 results and is achieving


significant growth in 1992," said H. Brian Thompson, LCI International's chairman and chief executive officer. "Billed minutes of use have risen dramatically during the first nine months of the year due to both the company's expansion into new national and international markets as well as our introduction of a quality residential service to our broad portfolio of existing commercial telecommunications services."
 LCI International has made a variety of aggressive changes in its marketing strategy to position itself within the telecommunications industry to become one of the premier full-service, long-distance carriers in the nation.
 During the last half of 1991 and early 1992, LCI's lead equity investors, E.M. Warburg, Pincus & Co., Inc. and Primus Venture Partners, made additional equity investments in LCI of $18 million. In January, the company and its affiliates, formerly LiTel Telecommunications Corporation, began doing business as LCI International to better reflect its overall capabilities and the focus of its service, enabling its customers to complete calls throughout the U.S. and to 178 foreign countries.
 More recently, LCI entered the residential market with its new Simple, Fair and Inexpensive calling plan, and has begun a major and national account program to appeal to larger and more sophisticated users of telecommunications.
 "With LCI's operational turnaround now complete and these significant improvements in financial and operational performance, the company has built a base from which it will be able to grow and prosper in the years ahead. Indeed, even with our extraordinary debt burden(A), we expect 1993 to be the first profitable year in the company's history," Thompson said.
 3 Months Ended Sept. 30(B)
 1992 1991
 Revenues $ 67,040,000 $ 56,551,000
 Operating Income 5,933,000 1,336,000
 Net Income (Loss) (2,483,000) (7,901,000)
 9 Months Ended Sept. 30(B)
 Revenues $ 191,908,000 $ 171,045,000
 Operating Income 14,510,000 7,888,000
 Net Income (Loss) (10,777,000) (16,465,000)
 (A) LCI's interest payment on debt will total approximately $31 million in 1992.
 (B) Though LCI's debt is publicly traded, its equity is privately held, therefore, earnings per share are not presented.
 LCI International is a worldwide, facilities-based telecommunications company that provides a full line of voice, data and video transmission services to meet both business and residential customer's needs through its state-of-the-art fiber optic network. LCI International is a privately-held company whose majority shareholders include New York-based E.M. Warburg, Pincus & Co., Inc., the largest venture banking firm in the United States, and Primus Venture Partners, Cleveland, one of the largest venture capital firms in the Midwest.
 -0- 10/21/92
 /CONTACT: Larry E. Wolfe, CFO, 614-798-6444, or Shawn E. Endsley, Controller, 614-798-6267, both of LCI International/ CO: LCI International ST: Ohio IN: TLS SU: ERN


KK -- CL004 -- 2753 10/21/92 10:04 EDT
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Date:Oct 21, 1992
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