Broadwing Sells Cincinnati Bell Supply to Management; Management Buyout Creates One of the Largest Minority-Owned Businesses in Cincinnati

Business Wire, May 23, 2000

Business Editors

CINCINNATI--(BUSINESS WIRE)--May 23, 2000

Broadwing Continues To Hone Focus On Data and

Internet Space

Broadwing Inc. (NYSE:BRW), today announced it has facilitated the management buyout of Cincinnati Bell Supply (CBS), a proven leader in business technologies, to Tom Revely III, the former president of CBS.

Mr. Revely, a 13-year employee of Cincinnati Bell, has served as president of CBS for the past 5 years. The new company will be named CBS Technologies LLC and has 80 employees.

"This is an exciting time for us as we become one of the largest minority-owned businesses in Cincinnati," said Tom Revely III. "As a well-respected, independent entity with highly focused management, CBS Technologies is in a great position to leverage its strengths, continue its rapid growth, and increase profitability as one of the leading communications equipment suppliers in the U.S."

"This is a milestone for the community and further proof that Broadwing is committed to helping drive economic development," said Jack Cassidy, president and COO of Cincinnati Bell. "CBS Technologies is in good hands with Tom's innovative and proven management skills leading the way."

CBS Technologies' core business will continue to be the refurbishing and selling telecommunications equipment and maintaining one of the largest national inventories of new and refurbished Lucent Technologies telecommunications products. In addition, the company will continue to handle customized fiber optic cable solutions for customers.

Rick Ellenberger, president and CEO of Broadwing Inc. said, "The sale is a natural progression that will allow for both companies to focus on their goals. Similar to the recent sale of our European joint venture, this will allow Broadwing to concentrate on providing total IP-based communications solutions and better position ourselves in the data and Internet space."

CBS Technologies will continue in its role as a primary supplier of both new and refurbished telephone products to Cincinnati Bell Telephone.

Terms of the sale have not been disclosed.

About Cincinnati Bell and Broadwing Inc.

Cincinnati Bell is a business unit of Broadwing Inc. Broadwing Inc. is an integrated communications powerhouse delivering voice, data and Internet solutions to a variety of customers nationwide. Broadwing combines unparalleled customer service with a premier next-generation fiber network and award winning IP backbone, to create data and internet solutions that are innovative, reliable, and provide businesses a competitive advantage. Broadwing sets the standard for customer accountability with its first-in-the-industry Installation Guarantee. Headquartered in Cincinnati, Ohio with 5,500 employees in 38 cities, Broadwing can be found on the Web at www.broadwing.com.