Valor Communications Group, Inc. Files Amendment to Registration Statement for Proposed Initial Public Offering of Common Stock

Valor Communications Group, Inc. Files Amendment to Registration Statement for Proposed Initial Public Offering of Common Stock

IRVING, Texas, Dec. 10 /PRNewswire/ -- Valor Telecommunications, LLC ("VALOR") announced today that Valor Communications Group, Inc. ("Valor Communications"), a company formed to be the holding company for the operations of VALOR, filed an amendment December 9 to its registration statement originally filed April 8 with the Securities and Exchange Commission for an initial public offering of Valor Communication's common stock.

In connection with these offerings, VALOR expects to (i) repay all outstanding loans under its existing senior credit facility, (ii) repay all outstanding subordinated notes and (iii) to redeem equity securities from certain existing security holders of VALOR. Merrill Lynch & Co., Banc of America Securities, LLC and JP Morgan will be the joint lead book-running managers for the offering.

A preliminary prospectus for these offerings is not currently available. When available, interested persons may obtain a copy of the preliminary prospectus from Merrill Lynch & Co., 4 World Financial Center, New York, New York 10080.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

About Valor

Valor Communications will become the holding company for the operations of VALOR in a reorganization to occur in connection with the offerings. VALOR is a privately held telecommunications company, and its subsidiaries include VALOR Telecom, a Rural Incumbent Local Exchange Carrier. In addition to local telephone service, VALOR's operating units offer business and residential customers telecommunications services such as unlimited nationwide long distance, bundled calling plans, directory and online yellow pages, high-speed DSL, Internet access service, telephone equipment, data solutions, calling features and more. Formed in 1999, VALOR is based in Irving, Texas, and its operating subsidiaries own and operate approximately 550,000 local access lines in primarily rural areas within Texas, Arkansas, Oklahoma and New Mexico. Our major investors are: Welsh, Carson, Anderson & Stowe, Vestar Capital Partners, and Citicorp Venture Capital.

Forward-Looking Statements

Statements contained herein that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used herein, forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results performance or achievements of Valor Communications or VALOR to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Valor Communications' filings with the Securities and Exchange Commission. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.


Source: Valor Communications Group, Inc.

CONTACT: Cynthia Cruz of Valor Telecommunications, LLC,
+1-877-783-9700, ext. 1134, or ccruz@valortelecom.com

Web site: http://www.valortelecom.com/


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