i700, LLC Acquires 700MHz Spectrum

April 2008

i700, LLC has successfully acquired 700MHz frequency for 2 million PoP’s in eight markets in the Midwest. i700, LLC consists of four Illinois independent telephone companies and Anderson Pacific Corporation, a Chicago based private equity firm. The entities’ owners have extensive experience in the ownership and operation of various telecom assets, including local telephone exchanges, regional fiber optic transport routes, local cable TV systems, and regional wireless businesses, among others.

i700, LLC is the 17th largest holder of A & B block 700MHz spectrum from FCC auction 73. Its holdings consist of eight markets in a nearly contiguous footprint in eastern Illinois, Western Indiana, and Northwestern Kentucky, including the cities of Champaign, Terra Haute, Evansville and Paducah. Of companies in the top 20 largest holders, i700 was the winning bidder at the third lowest price per MHz PoP. “We are very proud of our cost basis, footprint, and size,” said Kenneth D. Anderson, Chairman and CEO of i700, LLC.

i700, LLC will rely on its owners’ successful telecommunications, operations and investment experience to maximize the value of its spectrum. It hopes to gain spectrum in other contiguous markets – either through outright purchase, collaborative partnerships or merger – to create a seamless footprint of mobile voice, video and data telecommunications to the residents and businesses in its territory.

Contact:

Christopher J. Jensen
Director of Business Development
i700, LLC
www.i700LLC.com

875 N. Michigan Ave
Chicago, IL 60611
(312) 602-5488
chris@andersonpacific.com