Richard L. Koontz Jr. Joins Board Of Directors Of Shenandoah Telecommunications Company Grover M. Holler Jr. Retires From Board
EDINBURG, VA, (May 2, 2006) - Shenandoah Telecommunications Company (Shentel; NASDAQ: SHEN) announced today that Richard L. “Rick” Koontz, Jr. was elected to a three-year term on Shentel’s Board of Directors at the Company’s Annual Shareholders Meeting. Also at the meeting, Noel M. Borden and Ken L. Burch were re-elected for three-year terms.
Since 1988, Mr. Koontz has served as Vice President of Holtzman Oil Corporation, a supplier and distributor of petroleum products located in Mt. Jackson, Virginia. In his current position, he oversees all day-to-day responsibilities of the corporation. He is currently a member and chairman of the Shenandoah County School Board.
Mr. Koontz fills the vacancy created by the retirement of Grover M. Holler, Jr. Mr. Holler’s term of office expired at the 2006 Annual Meeting, and he was not eligible to stand for re-election as director due to the Board’s mandatory retirement policy.
“Rick will further increase the range and depth of experience of our Board members,” said Christopher E. French, Shentel President. “We welcome him to the Board and look forward to working with him for the continued success of the organization. We also want to thank Grover Holler for his significant contributions to Shentel. During his 54 years of service on the Board, the Company has evolved from its roots as the Farmers Mutual Telephone System of Shenandoah County into today’s diversified telecommunications provider with services throughout the southeast United States.”
There were approximately 5.6 million shares represented at the meeting out of a total of 7.7 million shares outstanding.
At the Annual Meeting, Christopher French, President of Shentel, reviewed the highlights of the past year and reported on the issues the Company faces with its relationship with Sprint Nextel. Earle MacKenzie, Executive Vice President, reviewed previously announced financial results for 2005 and the first quarter of 2006 and gave a high-level review of information concerning acquisitions of affiliates by Sprint Nextel. These presentations are available on the Company’s website at www.shentel.com.
About Shenandoah Telecommunications
Shenandoah Telecommunications Company is a holding company that provides a broad range of telecommunications services through its operating subsidiaries. The Company is traded on the NASDAQ National Market under the symbol “SHEN.” The Company’s operating subsidiaries provide local and long distance telephone, Internet and data services, cable television, wireless voice and data services, alarm monitoring, and telecommunications equipment, along with many other associated solutions in the Mid-Atlantic and Southeastern United States.
______________________
Earle A. MacKenzie
Executive Vice President
& Chief Operating Officer
This release contains forward-looking statements that are subject to various risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of unforeseen factors. A discussion of factors that may cause actual results to differ from management's projections, forecasts, estimates and expectations is available in the Company filings with the SEC including the Company's 2005 Annual Report on Form 10-K. Those factors may include changes in general economic conditions, increases in costs, changes in regulation and other competitive factors. The Company expressly disclaims any obligation to update or review any forward-looking statements contained in this release.
