WASHINGTON -- The Association for Local TelecommunicationsServices (ALTS) today released an updated spreadsheet documenting the marketcapitalization of the publicly-traded CLECs. The spreadsheet shows that the publicly-tradedCLECs more than doubled their market value from $1.4 Billion at the end of 2002 to $3Billion on July 1, 2003.

"The increase in stock values of the publicly-traded CLECs over the first six months ofthis year is strong evidence of a revival of the CLEC industry," said John Windhausen, Jr.,President of ALTS. "As ALTS demonstrated with its Annual Report issued in April, theCLEC industry posted positive EBITDA in 2002 for the first time in its history. Today’sreport shows that investors are rewarding the CLEC industry for this progress towardprofitability by increasing their investments in CLEC stock."

"While analogies to the ‘phoenix rising from the ashes’ exaggerate the CLECs’ declineand growth, there is clearly renewed enthusiasm for CLECs on Wall Street. Of course, thefuture of competition is still highly dependent on the decisions to be made in Washington andin states over the next year. But clearly investors are beginning to show confidence thatcompetition can work if policy-makers allow it."

The spreadsheet includes publicly-traded companies whose principal business isto provide competitive local exchange service. Thus the spreadsheet does not include thestocks of long distance, wireless, energy, cable or other companies that happen to have aCLEC affiliate.

Association for Local Telecommunications Services (ALTS)