PaeTec Named Rising Star in the Deloitte & Touche Technology Fast 500 Program

Business Wire, Nov 14, 2001

Business Editors

ROCHESTER, N.Y.--(BUSINESS WIRE)--Nov. 14, 2001

PaeTec Corp., a holding company whose principal subsidiary is PaeTec Communications, Inc., an integrated communications provider, has been named the No. 3 Rising Star on the 2001 Deloitte & Touche Technology Fast 500, a ranking of the 500 fastest growing technology companies in the U.S. and Canada.

A special category of 25 Rising Star winners, companies in business less than five years, but more than three years, are ranked based on percentage of growth in revenues for three years (1998 to 2000).

Arunas A. Chesonis, PaeTec's Chairman of the Board and CEO, credits the creativity, drive and commitment displayed by PaeTec employees for its compelling financial performance. Chesonis said, "Due to the amazing efforts of our employees, PaeTec has grown revenues over the past three years by an overwhelming 82,732% while maintaining strong operating margins and a fiscally conservative balance sheet. We remain steadfast in our commitment to exceed customers' expectations every day by offering the most comprehensive, cost-effective, and innovative communications solutions, as well as providing the highest levels of service excellence. We have put in place the discipline and efficiencies necessary to successfully execute our business strategies now and in the future."

"To rank on the Deloitte & Touche Technology Fast 500 Rising Star listing, companies must have phenomenal revenue growth in a three-year period. PaeTec has proven to be one of the fast-growth success stories, and we applaud their success and vision," said Timothy Culhane, Partner in Deloitte & Touche's Rochester practice.

"Making the Deloitte & Touche Technology Fast 500 is a testament to a company's leadership, commitment to technology, and ability to deliver the right solution at the right time. PaeTec has proven that its leadership has the vision and determination to succeed, and we at Deloitte & Touche salute their accomplishments."

PaeTec's increase in revenues of 82,372 percent over the three-year period of 1998 to 2000 resulted in PaeTec being named as the No. 3 Rising Star in the 2001 Deloitte & Touche Technology Fast 500. For the complete Fast 500 and Rising Star lists, visit www.fast500.com.

To qualify as a Rising Star in the Deloitte & Touche Technology Fast 500, entrants must have had 1998 operating revenues of at least $50,000 USD and $75,000 CD for the United States and Canada, respectively. Entrants are public or private companies headquartered in North America and must be a "technology company," defined as a company that develops proprietary technology which contributes to a significant portion of the company's operating revenues, manufactures a technology-related product, or devotes a high percentage of effort to research and development of technology.

About Deloitte & Touche

Deloitte & Touche LLP, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting services through nearly 30,000 people in more than 100 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for its innovative human resources programs, Deloitte & Touche has been recognized as one of the "100 Best Companies to Work For in America" by Fortune magazine for four consecutive years. Deloitte & Touche is the U.S. national practice of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity. For more information, please visit Deloitte & Touche's web site at www.us.deloitte.com.

Our Ohio Valley Practice consists of more than 1,437 people. With offices in Louisville, Kentucky; Indianapolis, Indiana; Cincinnati, Columbus, and Dayton, Ohio; Pittsburgh, Pennsylvania; and Rochester and Buffalo, New York, these professionals are well positioned to provide our clients with personalized, responsive service. The Ohio Valley is home to seven Fast 500 winners.

About Deloitte & Touche's Technology & Communications Group

The Technology & Communications Group is composed of service professionals who have a wealth of experience serving technology and communications companies throughout the world in areas including Internet, software, semiconductors, cable, media and publishing, communication utilities, networking, wireless, computers and peripherals, and related industries. These specialists understand the challenges that technology and communications companies face throughout all stages of their business growth cycle and are committed to helping them succeed. Deloitte & Touche is a leader in providing strategic, financial, operational, and information technology assistance to its technology and communications clients.

About PaeTec

Based in Fairport, NY, PaeTec Communications, Inc. is an integrated communications provider offering broadband services, including advanced voice and video, enhanced data, and communications management services to medium-sized and large businesses, colleges and universities, hospitals, governmental organizations and affinity groups. PaeTec serves customers in 27 markets, including: Albany, Baltimore, Boston, Buffalo, Chicago, Connecticut, Fort Lauderdale, Long Island, Los Angeles, Miami, New Hampshire, New Jersey, New York City, Orlando, Orange County, Philadelphia, Pittsburgh, Rhode Island, Rochester, San Diego, Northern Virginia, Syracuse, Washington DC, and Western Massachusetts. PaeTec currently has over 975 employees. For further information, please visit the PaeTec website at http://www.paetec.com.