International FiberCom Announces Design- Build Agreements With AT&T Broadband and Internet Services; Initial Projects in San Francisco, Denver Areas

Business Wire, June 23, 1999

PHOENIX--(BUSINESS WIRE)--June 23, 1999--

International FiberCom Inc. (Nasdaq/NM:IFCI) and its Chairman and CEO Joseph P. Kealy Wednesday announced that IFCI will provide AT&T (NYSE:T) Broadband and Internet Services ("AT&T/BIS") design-build services for the upgrade of its cable systems.

Initially, IFCI will take on portions of AT&T/BIS's cable upgrade projects in the San Francisco Bay and Denver areas. Under these agreements, IFCI will be an essential contractor for AT&T/BIS.

IFCI plans to use these contracts as an opportunity to further leverage its relationship with AT&T/BIS. Ultimately, IFCI would like to provide AT&T/BIS with design-build services in those additional markets where system upgrades are underway or are contemplated and with local line installation and maintenance services as AT&T/BIS rolls out its new video, data and voice product lines.

Commenting on this exciting new opportunity, Kealy stated: "The prospect of taking on major design-build contracts for AT&T/BIS represents a huge step forward for IFCI. It fully validates our mission -- to provide full solutions and multiple services, to be a complete `one-stop shop' for our customers in the telecommunications marketplace."

This news release contains certain forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, by their very nature, include risks and uncertainties. Accordingly, the company's actual results could differ materially from those discussed in this release. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues, profitability, cash flows and capital needs. Such factors, many of which are beyond the control of the company, include the following: the company's success in obtaining new contracts; the volume and type of work orders that are received under such contracts; the accuracy of the cost estimates for projects; the company's ability to complete its projects on time and within budget; levels of, and ability to collect accounts receivable; availability of trained personnel and utilization of the company's capacity to complete work; the company's ability to complete proposed acquisitions and, upon their completion, to integrate the acquisitions into its organization and manage its growth; competition and competitive pressures on pricing; and economic conditions in the United States and in the regions served by the company. A more complete listing of cautionary statements and risk factors is contained in the company's report on Form 10-KSB for the year ended Dec. 31, 1998, filed with the Securities and Exchange Commission.