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Press Release -- July 13th, 2017
Source: Lumos Networks
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Lumos Networks Signs Multi-Year Enterprise Contract with Virginia Military Institute (“VMI”)

WAYNESBORO, Va.--(BUSINESS WIRE)--Lumos Networks Corp. (“Lumos Networks” or the “Company”) (NASDAQ:LMOS, news, filings), a leading fiber-based service provider in the Mid-Atlantic region signed a multi-year agreement with the Virginia Military Institute (“VMI”) to provide 1.5 Gigabit of Dedicated Internet to its campus, located in Lexington Virginia. Lumos Networks also will provide VMI with a 1 Gigabit Dedicated Internet connection at the Rockbridge Area Network Authority (RANA) Data Center. Lumos Networks previously announced RANA as a new Data Center connected to their network (Lumos Connects to Rockbridge Area Network Authority (“RANA”) Data Center in Lexington, VA).

Colonel Thomas Hopkins, Director of Information Technology at VMI said, “The highly secure fiber bandwidth solution that Lumos Networks provides will continue to grow with us as our demand grows. We are pleased with the performance and servicing of our network by Lumos Networks.”

“We are pleased to announce our partnership with VMI and are honored to provide secure and advanced connectivity to such a prominent higher education university right in the heart of our nearly 11,000 mile fiber network,” said Timothy G. Biltz, CEO of Lumos Networks, “Higher education is a key industry vertical within our Enterprise segment.”

“We appreciate the trust and confidence that the Virginia Military Institute has placed in us to provide this service,” said Joseph McCourt, Chief Revenue Officer for Lumos Networks. “We look forward to the opportunity to continue to add additional services, locations and increased bandwidth over time.”

About Virginia Military Institute

Founded in 1839 and located in Lexington, Virginia, Virginia Military Institute is the nation’s first state-supported military college. U.S. News & World Report has ranked VMI among the nation’s top undergraduate public liberal arts colleges since 2001. VMI’s engineering program is traditionally ranked in the Top 25 amongst all engineering schools whose highest degree is a bachelor’s or master’s degree.

About Lumos Networks

Lumos Networks is a leading fiber-based service provider in the Mid-Atlantic region serving Carrier, Enterprise and Data Center customers, offering end-to-end connectivity in 26 markets in Virginia, West Virginia, North Carolina, Pennsylvania, Maryland, Ohio and Kentucky. With a fiber network of 10,907 fiber route miles and 503,616 total fiber strand miles, Lumos Networks connects 1,306 unique Fiber to the Cell sites, 1,663 total FTTC connections, 2,125 on-net buildings and over 3,400 total on-net locations. The Company also connects 43 total data centers, including five data centers acquired from DC74, two acquired from Clarity Communications and seven company owned co-location facilities. In 2016, Lumos Networks generated over $123 million in Data revenue over our fiber network. Detailed information about Lumos Networks is available at www.lumosnetworks.com.

SPECIAL NOTE FROM THE COMPANY REGARDING FORWARD-LOOKING STATEMENTS

Any statements contained in this presentation that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. The words “anticipates,” “believes,” “expects,” “intends,” “plans,” “estimates,” “targets,” “projects,” “should,” “may,” “will” and similar words and expressions are intended to identify forward-looking statements. Such forward-looking statements reflect, among other things, our current expectations, plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. We do not undertake any obligation to update or review any forward-looking information, whether as a result of new information, future events or otherwise. Important factors with respect to any such forward-looking statements, including certain risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, include, but are not limited to: the successful closing of the announced transaction with EQT Infrastructure, including obtaining the requisite regulatory and governmental approvals and satisfying other closing conditions; the risk that required governmental and regulatory approvals may delay the transaction or result in the imposition of conditions that could cause the parties to abandon the transaction or materially impact the financial benefits of the transaction; the timing to consummate the proposed transaction; any disruption from the proposed transaction making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on transaction-related issues; the transaction may involve unexpected costs, liabilities or delays; the outcome of any legal proceedings related to the transaction; the failure by EQT Infrastructure to obtain the necessary financing arrangement set forth in commitment letters received in connection with the merger; the impact of our previous acquisitions of Clarity Communications and DC 74 on our operations; rapid development and intense competition with resulting pricing pressure in the telecommunications and high speed data transport industry; our ability to grow our data business on an organic or inorganic basis in order to offset expected revenue declines in legacy voice and access products; our ability to obtain new carrier contracts or expand services under existing carrier contracts at competitive pricing levels to offset churn and achieve revenue growth from our carrier businesses; our ability to separate our legacy business on a timely basis; our ability to effectively allocate capital and timely implement network expansion plans necessary to accommodate organic growth initiatives; our ability to complete customer installations in a timely manner; adverse economic conditions; operating and financial restrictions imposed by our senior credit facility and our unsecured debt obligations; our cash and capital requirements; our ability to maintain and enhance our network; the potential to experience a high rate of customer turnover; federal and state regulatory fees, requirements and developments; our reliance on certain suppliers and vendors; and other unforeseen difficulties that may occur. These risks and uncertainties are not intended to represent a complete list of all risks and uncertainties inherent in our business, and should be read in conjunction with the more detailed cautionary statements and risk factors included in our SEC filings, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2017.

Contacts

Lumos Networks Corp.
Will Davis
Senior Vice President of Marketing and Investor Relations
Chief of Staff
(c) 917-519-6994
davisw@lumosnet.com

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