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CHARYS AND CCI COMPLETE MERGER
ATLANTA -- March 4, 2005 -- Charys Holding Company, Inc. "Charys" (OTC BB:CHYS.OB), a Delaware corporation, today announced that its acquisition of CCI-Telecom, Inc.
(CCI) has been completed. The companies had previously signed a binding letter of intent on February 7, 2005.
CCI enjoys a reputation for high quality and dependability in the wireless, wireline and radar industries. Its customers include essentially every major wireless
company in the U.S. and various major defense contractors. The company is licensed in 11 states and is currently performing on contracts in nine states.
The holders of CCI common stock will receive one share of Charys common stock for approximately 26.88 shares of CCI common stock. In total, Charys will issue 747,710
shares to CCI shareholders. In addition to the common shares, CCI shareholders will be eligible to receive certain other deferred, contingent payments over the
next 24 months.
"Our Board of Directors and our management team welcome CCI to the Charys family of companies," said Billy Ray, CEO of Charys. "CCI has a culture and tradition of
excellence - an ability to build customer intimacy that results in more business orders for a trusted partner. We are very fortunate to have CCI as a platform company
forging our expansion."
Charys also closed an agreement to acquire real estate, which comprises the principle office of CCI, in San Antonio, Texas. This transaction entails a purchase of
the assets and assumption of liabilities of CCI Associates, Ltd., a company related to CCI. This transaction will be completed by Charys issuing 250,000 shares of
common stock in an exchange for the property.
"We have found a partner that is specifically aligned with our vision and has interests that reflect the interests of CCI," said Mike Novak, CEO, CCI-Telecom,
Inc. "With Charys, we will be able to attain the performance levels and growth that we have imagined for several years."
"We set out a year ago to build an organization comprised of companies that want to make a difference," said Ray. "After sorting through some potential
partners in this business segment, we believe CCI is a perfect fit for our company, our philosophy and our growth," he concluded.
About Charys Holding Company, Inc.
Headquartered in Atlanta, Georgia, Charys Holding Company, Inc. (OTC BB:CHYS.OB) is a publicly traded company focusing on the fragmented and underserved segment
referred to as The Integrated Infrastructure Services Segment. This segment varies widely in scope, but is fundamentally focused on upgrading the underpinning,
infrastructure, and back office operations of the telecommunication, cable, electric, and Internet industries serving consumers, businesses and government entities.
Charys's principle strategy is to acquire, through mergers and acquisitions, companies that support this underserved segment. For more information about Charys
visit http://www.charys.com.
About CCI-Telecom, Inc.
CCI is a telecommunications infrastructure services business. Headquartered in San Antonio, Texas, the company has 135 employees and satellite offices in Dallas, Houston,
and Lee, Massachusetts. CCI specializes in the development and construction of cellular towers, telephone switching facilities, and advanced radar installations. The
services provided by the company span a broad range of capabilities including telephone system installation, structured cabling, long-haul fiber, telecom equipment
maintenance, as well as installation and services related to microwave, satellite, radar, cellular, and wireless broadband systems. CCI has been in business since
1980 and has won many awards, including six annual recognitions as a "Top Fifty" company by the San Antonio Business Journal. CCI enjoys a reputation for high
quality and dependability in the wireless, wireline, and radar industries. Its customers include essentially every major wireless company in the U.S. and various
major defense contractors. For more information about CCI visit http://www.ccitele.com
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Forward-looking statements in this release, including statements regarding management's expectations for future financial results and access to capital
markets, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these
forward-looking statements regarding Charys Holding Company, Inc., its operations and its 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; risks in technology
development and commercialization.
Media contact:
Stuart Smith
Red Nine PR
404 261-0707
ssmith@redninePR.com
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