American Broadband to acquire Margaretville Telephone Company
Agreement continues 92 - year commitment to serving rural New York

Charlotte, NC, July 16, 2008: American Broadband Communications, LLC today announced that it has agreed to acquire all of the outstanding stock of Margaretville Telephone Company, Inc. (MTC)

Margaretville Telephone Company, Inc., located in Margaretville, NY in the Central Catskill Mountain Region serves approximately 4,100 customers in Ulster and Delaware counties, with a full range of voice, data, and video services. Since its establishment in 1916, MTC has kept pace with changing technologies, and has continually demonstrated a commitment to providing its customers with the best available products and services, making its name synonymous with reliability and service.

Larry Roadman, Chairman and CEO of Margaretville Telephone Company, Inc., stated: “The agreement with American Broadband is the culmination of a process we began approximately ten months ago to explore our strategic alternatives. In selecting American Broadband we have strongly addressed customer, employee and shareholder interests and have partnered with a company that has an impressive track record of serving communities like ours.”

“We are honored to have the opportunity to work with the strong MTC team to continue the traditions of service excellence and community commitment which have distinguished MTC for more than 90 years,” said American Broadband President and CEO Patrick Eudy.

The closing of the transaction is subject to regulatory approval and other customary closing conditions. Alpina Capital acted as exclusive financial advisor.

About American Broadband:
American Broadband is growing through strategic investments in rural communications companies designed to invigorate both the companies and the areas they serve. As part of the American Broadband family, our operating companies partner in the growth and economic vitality of their communities by providing broadband and other advanced services and by contributing to and supporting new business activity and job growth. American Broadband retains local management and staff to ensure continued superior levels of service to our customers.

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For further information, please contact:
Patrick L. Eudy
President & Chief Executive Officer
American Broadband Communications LLC
756 Tyvola Road, Suite 100
Charlotte, NC 28217
Telephone 704-665-9036
E-mail eudy@americanbb.com
Web www.americanbb.com

Douglas Hinkley
President
The Margaretville Telephone Company, Inc.
Telephone : 845-586-3311
e-mail: mtcdh@catskill.net