Shentel Selected As Broadband Services Provider For Prestigious Preston Lake Community

March 20, 2007 at 12:00 AM EDT
Shentel Selected As Broadband Services Provider For Prestigious Preston Lake CommunityEDINBURG, Virginia, March 20, 2007 – Shenandoah Telecommunications Company (Shentel NASDAQ: SHEN), a leading provider of advanced media and communications solutions, announced today that it will provide broadband video, data and voice services to the residents of Preston Lake, developed by The Hine Group. Preston Lake will be an upscale, residential, retail and office development, located one mile east of Harrisonburg, Virginia.

Shentel’s state-of-the-art broadband services over fiber optics to each home in Preston Lake will enable each resident to enjoy a full range of advanced media and communications solutions. Shentel will provide an extensive broadband video line-up including High Definition TV and pay-per-view, as well as a full featured broadband phone service, home security monitoring options, and broadband Internet with the advantage of scalable bandwidth for telecommuters and home offices. Shentel will additionally provide wireless hotspots at the Waterfront Clubhouse and in the Main Street area.

“Preston Lake provides an excellent opportunity for us to showcase the latest telecom services over a superior delivery platform,” said Shenandoah Telecommunications Company President Christopher E. French. “Serving upscale communities like Preston Lake promotes Shentel’s strategy of continued growth and diversification. We look forward to working with The Hine Group in creating this vibrant community.”

“Collaborating with Shentel enables us to provide premier telecommunications services to Preston Lake residents today and ensures they will be able to readily take advantage of future technology as it becomes available,” said Richard Hine, President of The Hine Group. “We believe this level of service clearly sets Preston Lake apart from other new developments and communities. The residents of Preston Lake will find themselves at the forefront of the technological revolution.”



Preston Lake , a new urbanist master planned community, will combine retail and office space along with a mix of more than 500 residential condominiums, traditional rowhouses, cottages and estate homes. The residences will be complemented by recreational facilities including a swim and racquet club, waterfront clubhouse, athletic facilities and a fishing lake. Upscale retail and dining destinations will be located on ‘ Main Street’ along with a 40,000 square foot fitness center with indoor pool and spa.

Shenandoah Telecommunications Company is a holding company that provides a comprehensive portfolio of telecommunications products and 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.

The Hine Group is a full service design, construction and development firm that operates in Florida, New York and Virginia. For more than 38 years, The Hine Group has built an unchallenged reputation for integrity, quality workmanship and professionalism. Specializing in custom luxury residences, they have become known throughout the Eastern United States for innovative designs that incorporate the latest conveniences technology has to offer. The Hine Group has expanded their portfolio with the addition of Preston Lake.

Earle A. MacKenzie

Chief Financial Officer

 

Some of the statements in this press release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as “will”, “expects”, “believes” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

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