SOURCE: Associated Network Partners Inc.

October 25, 2005 11:30 ET

Leading Provider of Toll Services to Independent Telcos, ANPI, Closes $4.84 Million in Financing

Capital Will Drive Development of Nationwide Network and Future IP Services

SPRINGFIELD, IL -- (MARKET WIRE) -- October 25, 2005 -- Associated Network Partners Inc., (ANPI) the leading provider of long-distance services to the Independent community announced the successful conclusion of its fundraising round.

The round was initiated to underwrite the organization's development of its next generation nationwide network and development of associated IP based services and applications. The organization's goal was to raise $4 million from the round, however industry response to the offering was much stronger than anticipated resulting in a sizeable oversubscription producing $4.84 million yield from 43 investors. Coupled with NRTC's one million dollar strategic investment, and ANPI's existing financial capabilities, the organization is well positioned to continue its long-standing tradition of leadership and innovation.

ANPI Chairman Leslie Greer noted how pleased the Board of Directors is with the results of the round stating, "We are reaching a point where operational collaboration is becoming a necessity if the Independent Community is going to survive and prosper in the future. Our funding round was designed to complement ANPI's unrivaled scale with the capital necessary to develop, deploy and integrate services that are crucial to the ongoing viability of the Independent community. By seeking to broadly fund the capital needs of the company from the members we serve, we achieve our desired goal to keep control of the organization in the hands of the Independent community, while also creating a foundation for value growth for the stockholders of the organization. We're thrilled that we have received such a strong endorsement of our vision as demonstrated through the level of subscription we've captured from this funding round."

Dave Lewis - CEO of ANPI added, "With the ongoing level of consolidation and volatility we're seeing in the communications space, it is vital that Independents secure the network resources necessary to further control their destiny, and employ scale to create an economically sustainable business model. The strength of this funding round will allow ANPI to effectively manage critical network functions and emerging services through internal resources owned by the Independent. A nationwide network owned by the Independents has been a long held dream. ANPI's existing stature, coupled with the funding received, and strategic relationships currently being forged with existing Independent owned network players, sets the stage for the realization of that dream."

About ANPI

ANPI is the undisputed leader of LD services to the Independent community. The organization serves in excess of 350 Independent telephone companies across 42 states, with compound annual growth rates of nearly 40% per year over its 9 year operating history. ANPI is the only nationwide operating consortium broadly owned by the Independent community. Its sole focus and aim is to provide state of the industry services vital to enhancing the Independent's strategic position while growing the value of the organization for its Independent stockholders.

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